The cryptocurrency market is abuzz with significant transactions by 'whales'. Dormant wallets are reactivating, new whales are entering the scene, and long-term holders are adjusting their portfolios.
Return of the Ethermine Wallet
A seven-year-old wallet identified as 0xbc8, linked to Ethermine, has made a noticeable return after three years of partial dormancy, withdrawing 2,692 ETH ($5.01 million) from OKX, sparking speculation about potential future trades or investments.
New Players Stir the Market
A newly activated wallet, 0x7c9, has withdrawn 2.4 million OM ($15.54 million) from Binance, averaging $6.47 per OM. Further analysis reveals wallet 0x699 withdrew 0.499 ETH from Binance over the past 16 days, funding gas fees for four wallets with OM trading history. Currently, 11.64 million OM ($75.39 million) is held in two of these four wallets.
LINK Sales and New SOL Investments
A new whale, 2fyep, withdrew 201,755 SOL ($24.98 million) from Binance at an average price of $123.81 and promptly deposited the entire amount, indicating a long-term investment strategy. The well-known whale 0xc6f continues to sell LINK, most recently 217,421 LINK at $13.29 for $2.88 million USDC. Since resuming activity on March 11, 2025, after a 4.5-month hiatus, the whale has sold a total of 356,665 LINK at $12.88 for $4.59 million USDC. However, LINK holdings have now significantly decreased, with only 7,917 LINK ($106K) remaining across two wallets, predominantly held by 0xc6f.
The ongoing whale activity continues to impact market trends and pricing, highlighting the importance of monitoring such large-scale transactions for market participants.
