BLUR, the native token of NFT platform Blur.io, is under selling pressure ahead of the massive token unlock on June 14. Selling BLUR at a loss, whales collect trending coins like PEPE and LINK.
Two whales sell BLUR at a loss ahead of token unlock
According to Lookonchain’s report, two whales, worried about the imminent massive BLUR unlocking, closed their positions at a loss in the past hours. One of them sold 101,796 BLUR tokens worth $32,500. The whale’s decision came despite its position at 68% loss. Thus, he accepted a total loss of $68,000.
Another whale sold 194,040 BLURs worth $61,000. He accepted the loss of 51% on this whale, making a total loss of $115,000. Whale sales are based on the day’s $62.64 million token unlock. As quoted by Kriptokoin.com, 196 million BLUR tokens will be released today, accounting for 6,533% of the total BLUR supply.
Probably worried about the upcoming 196M $BLUR ($62.3M) unlock, two guys sold all $BLUR at a loss today.
0x705d sold 101,796 $BLUR($32.5K) at a loss of $68K(-68%).
0x568e sold 194,040 $BLUR($61K) at a loss of $62K(-51%) again, and lost ~$111.5K on $BLUR in total. pic.twitter.com/OSyMiyUmbn
— Lookonchain (@lookonchain) June 14, 2023
While whales are selling BLUR, these altcoins are in accumulation phase
According to Santiment’s latest reports, whales are busy collecting LINK, which is trading at three-year lows. Analysis shows that wallets holding between 1,000 and 100,000 Chainlinks have accumulated 3.9 million LINK worth approximately $20 million in the last week. Major whale activity hit a record high for 2023, according to Santiment.
Pepe (PEPE)
PEPE, on the other hand, met a whale that invested $1.08 million in the last 4 days. According to spot on chain data, the giant whale address starting with 0x697 has accumulated 1.1 trillion PEPE in 4 days. The whale used 522.3 ETH and 117,000 USDC for the purchase.
In the meantime, let’s mention that another whale wallet provided the whale’s funds. In the period from April 17 to May 29 (42 days), it made a profit of over $2.13 million on PEPE trading on xvx.ETH. The price level information of the purchases made in the last 4 days is as follows:
Shiba Inu (SHIB)
Among the altcoins that saw accumulation in Shiba Inu. A Shiba Inu whale has recently accumulated more than 1.5 trillion SHIB as the price plummets. According to Lookonchain’s report, whale wallet “0x73AF” recently purchased $10 million worth of SHIB from Binance and Coinbase via Jump Trading and the address “0x66E0”.
The largest holder of $SHIB accumulated 1.5T $SHIB ($10M) from #Binance and #Coinbase again 4 hrs ago.
Address"0x40B3" holds 5.3T $SHIB($35.5M), and transferred 20T $SHIB($134.4M) to address "0x73AF" on May 16.
The whale is the largest holder of $SHIB excluding exchanges. pic.twitter.com/irMR39mfwE
— Lookonchain (@lookonchain) June 13, 2023
According to the data, this whale currently holds 5.2 trillion SHIB worth $36 million. However, this whale isn’t the only investor to buy the dip. Whale Alert reports that another whale recently purchased $25.8 million worth of SHIB.
🚨 🚨 3,821,233,843,288 #SHIB (25,881,216 USD) transferred from unknown wallet to unknown wallethttps://t.co/5oiHWQQ2fM
— Whale Alert (@whale_alert) June 13, 2023
This trader quickly turned $150 into $80,000
Whales are investors with wallets large enough to influence altcoin prices. They usually take positions at the right time and prefer small-volume altcoins. In one of the most recent trades, a hit whale investor quickly turned $150 into $80,000 with positions in Eye (EYE), Kermit (KERMIT) and Pepechain (PC).
A look at the on-chain data shows that the whale collected 8.7 million PCs at $0.000024 more than a month ago. The whale later closed its position when the price climbed to $0.06. He earned $55,500 from this trade with a 226x return. In the other transaction, it raised 849,000 EYE at $0.00034 about two weeks ago. EYE took a profit that the price reached $0.02 and earned a total return of $19,300…
At KERMIT, which took the last good position, it has made a profit of the past $6,000. Whale started this transaction with 9 million KERMIT while hovering at $0.00005 price. He then closed his entire position when the price reached $0.001. As a result, in about 1.5 months, EYE earned up to $80,000 with KERMIT and PC. The interesting thing is that the whale started this journey with only $150.
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