While the LEVER price gained more than 20% during the day, the famous market maker DWF Labs is preparing for a sale. Another altcoin whale has his eye on this altcoin project…
DWF Labs fills exchange wallets as altcoin prices rise
In the past few minutes, a major altcoin transfer took place that attracted the attention of observers. According to data tracked by EmberCN, DWF Labs transferred 1.8 billion LEVER to Binance. This transfer was worth approximately $3.1 million.
The hefty transfer quickly sparked speculation among market watchers and investors. It was a matter of curiosity why DWF Labs transferred such a large amount to Binance and what strategic move the company was planning. EmberCN provides a few clues about the company’s next move with past transfers.
转到 DWF Labs 的这 18 亿 LEVER($3.1M)，刚才转进币安了。 https://t.co/JD3kOKUXxC pic.twitter.com/bAPfnoxfm1
— 余烬 (@EmberCN) September 21, 2023
What is noteworthy is that just a few hours before this transfer, DWF Labs received the exact same amount, 1.8 billion LEVER, from a wallet marked “LeverFi: Farming Reserves.” At the time of this acquisition, LEVER was valued at approximately $2.85 million. This increase in the value of LEVER in a short time brings to mind that DWF Labs may have a positive expectation regarding this altcoin.
According to EmberCN’s reports, such large transfers can often cause significant movements in the market. Therefore, investors and market analysts are closely monitoring movements in LEVER and similar altcoins.
DWF Labs’ transfer comes amid LEVER price rally
Recently, the activity in the altcoin market continues. Especially altcoins such as LeverFi (LEVER) have an important place on the radar of investors. According to today’s data, LeverFi’s price is at $0.00173864. This altcoin, which attracted attention with an increase of 12.54% in the last 24 hours, experienced a gain in value of 34.25% in the last 7 days.
Ethereum is under selling pressure
In another transaction, Lookonchain reported large ETH sales by a whale. The Ethereum wallet, which has been dormant for a long time, offered 2,591 ETH for sale for approximately $4.18 million. This wallet had been holding these ETHs since November 2018. At that time, the value of Ethereum was only around $110. Currently, Ethereum is worth $1,634. This means that the whale’s ETH holdings have increased by 1,385% in almost five years.
Lookonchain stated that after this huge transfer, the whale converted its Ethereum into stablecoins called USDT and DAI. But this is not the only wallet that went dormant for a long time and then sold a large amount of Ethereum. Last week, another whale put up 10,000 ETH, or $16.5 million in reserves. This whale then transferred these Ethereums to Binance, KuCoin and OKX exchanges.
A wallet that had been dormant for 4 years sold all 2,591 $ETH for $4.18M stablecoins 6 hours ago.https://t.co/et78rXHG5u pic.twitter.com/pJanMLxwA3
— Lookonchain (@lookonchain) September 20, 2023
According to Lookonchain, this second whale transferred another 10,000 ETH this week. We observe a noticeable sales trend of Ethereum whales in the second and third quarters of 2023. According to crypto analysis company Santiment, Ethereum whales turned to selling during this period. Santiment’s marketing director, Brian Quinlivan, stated that these whales were making profits as the highest level of the last year was reached at $ 2,120. As we reported as Kriptokoin.com, it has been on the red list of whales in recent weeks.
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