4. Oktober 2023

Whale Alert: $91M Withdrawn and $7.1M Purchased in Ethereum Trades

• An Ethereum whale has been withdrawing tens of millions of dollars worth of ETH from Binance over the last month.
• Lookonchain also spotted another whale buying large amounts of ETH, CRV and LDO.
• A smart whale was able to make extremely clutch trades in the past, including selling Ethereum (ETH) at a local top and exchanging USDC for ETH before it lost its dollar peg.

Ethereum Whale Withdraws Over $90 Million in One Month

An Ethereum (ETH) whale has been identified as having withdrawn 50,100 ETH worth over $91 million from Binance since June 8th according to blockchain tracking firm Lookonchain.

Another Whale Makes Large Purchases

Lookonchain also spotted another whale making several large purchases, including borrowing 8 million USDC from Aave to buy 3,115 ETH at $1,926 and withdrawing 1.83 million CRV ($1.41 million) and 1,222 ETH ($2.35 million) from Binance. Additionally, 143,533 LDO ($326,000) were withdrawn from Binance with 800 ETH (1.42 million) being used to buy 737,921 LDO at $1.92 from June 7 to June 11th.

Smart Whale’s Clutch Trades

A smart whale was observed depositing 16 million USDC into Binance before dumping 34,000 ETH ($65.4 million), exchanging USDC for ETH during the USDC de-pegging event and withdrawing all assets from FTX right before withdrawals were suspended by the bankrupt centralized platform.

Daily Hodl Staff Advice

The Daily Hodl staff warns investors not to make high-risk investments in Bitcoin or other cryptocurrencies without doing due diligence first as any loses incurred are their responsibility alone and The Daily Hodl does not recommend the buying or selling of any such digital assets .

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