Whales Selling UNI and MKR Are Buying These 4 Altcoins!

UNI and MKR were on the red list today after massive funds flowed to the stock markets. Names like SHIB and LTC are seeing buying ahead of the upcoming news. What have whales been accumulating lately? Here are the details…

a16z transfers MKR to Coinbase

According to Ember’s report, two addresses of a16z transferred 6,586 MKR 3 hours ago, worth about $8.1 million. With the last transaction, all MKRs will be transferred to Coinbase in batches in the coming days. So far, 37,518 MKR (about $46.14 million) of a16z has been transferred to Coinbase in about a month.

Whales start UNI sales

Meanwhile, according to the information shared by Look On-Chain, a well-known ETH whale Stevu.eth has started to transfer UNI to the OKX exchange. Stevu.eth probably cashed out 200,000 UNIs by sending them to OKX. Look-On-Chain wrote on Twitter:

stevu.eth invested 200,000 UNIs (worth $1.29 million) in OKX to get a profit. Stevu.eth pulled 500,545 UNIs (worth $2.46 million) from OKX on June 29, when the price was $4.92. The profit of this investor according to the current price is 764 thousand dollars. It currently holds 300,545 UNIs (worth $1.94 million).

These coins find buyers while UNI and MKR are sold

Shiba Inu (SHIB)

Crypto analyst Ali Martinez reported in July that large sums of Shiba Inu (SHIB) were withdrawn from crypto exchanges. In the last two months, big whales have collected a total of 1.11 trillion SHIB, according to the chart he shared. These developments match the launch news of Shibarium, with SHIB being a key sponsor at the Blockchain Futurist Conference in August. It seems that the whales are interested in pre-buying the news.

Litecoin (LTC)

Santiment says that certain group of whales is accumulating LTC rapidly in anticipation of the upcoming Litecoin (LTC) halving. Medium-sized Litecoin whales have accumulated 205,400 LTC worth $19 million since June 14. This shows the interest of mid-level holders in LTC as the halving event approaches. As the altcoin approaches its halving event scheduled for August 2, whales are raising their bags, according to the analytics firm:

Key traders holding LTC between $9,500 and $950,000 are accumulating aggressively, as Litecoin’s highly anticipated halving event is at hand on Wednesday. Like most halvings, this is perceived by investors as a bullish event.

On the other hand, some crypto analysts predict that LTC may correct after the halving. He states that previous halvings were news sales events based on historical data. Litecoin is currently trading at $92.27 and analysts are keeping a close eye on the price action after the halving.

Ethereum Name Service (ENS)

Meanwhile, after a long hiatus, a major Ethereum Name Service (ENS) player has resurfaced. He bought millions of Ether (ETH) in the first transaction. Incorporating the famous “darkmarket.eth” ENS domain, the whale received a staggering 39,712 ETH during the transaction, which equates to around $74 million.

The high amount was initially tied to an offer at the time of its purchase via ENS. It remained dormant for a considerable time until its owner decided to take it back. The recovered funds were partially transferred to an alternative Ethereum address. The amount included 63,734 ETH, or about $118 million.

Nick Johnson, founder of ENS, provided some information via a tweet from February 2021. He noted that the first close to 40,000 ETH deposits were made in the early years of ENS operation. Johnson previously tried to guide the user to get their funds back. He now viewed the recent event as an opportunity to shed light on the procedure of others in a similar situation.

Ethereum (ETH)

Finally, Santiment noticed a correlation between the increase in whales’ DAI stablecoin and Ethereum rallies. Wallets holding $100,000 to $10 million worth of DAI now hold 42.1% of the token supply, according to the data. This is the highest level since December 2020.

As we have reported as Kriptokoin.com, Ark Invest has become active again today for stock sales.