The past week saw increased activity among large crypto holders, often referred to as whales. On-chain trackers such as Whale Alert flagged a number of significant transactions, including record purchases of Ethereum.
Bitcoin Whale Activity
Several major Bitcoin transfers were reported during the week. Notably, on June 16, Whale Alert flagged a transaction that moved 1,111 BTC ($117.8M) between anonymous wallets, which was later revealed to be part of Metaplanet's accumulation. On June 18, an additional 1,028 BTC ($108.5M) was transferred between unknown addresses. Subsequent to this, wallets from Coinbase and Kraken were involved: moving 815 BTC ($85.8M) from an unknown source to Kraken and 514 BTC ($53.65M) from Kraken to an external wallet. According to market analysts, these movements, especially between major exchange addresses, indicate institutional rebalancing.
Ethereum Whale Activity
Ethereum also experienced significant whale transactions. On June 16, two large transactions totaling 68,000 ETH occurred within hours: 34,108 ETH ($89.63M) moved from an unknown address to Binance, and 34,000 ETH ($89.29M) from a identified CeFi address ('Ceffu') to another wallet. Furthermore, reports showed that a dormant genesis wallet (0xcF264), which had held 2,000 ETH since the launch of Ethereum, reactivated on June 15 and moved 500 ETH ($1.27M) to a new address.
Stablecoin, Memes and Institutional Flows
Stablecoin whale transfers were also significant. On June 20, a transfer of 100,000,000 USDT ($100.03M) was reported moving from an unknown Ethereum wallet into Binance. Additionally, the USDC treasury minted about 69.8 million USDC ($69.78M) on Ethereum and burned a nearly identical amount on Solana. Meme coins also demonstrated whale activity; on June 17, a wallet named 'qianbaidu.eth' moved 595.2 billion PEPE tokens ($6.52M) into Binance.
The concluded week was a big one for crypto whale transactions, with numerous significant on-chain moves involving exchanges or known whale addresses indicating capital rotation. Ethereum whales net purchased a record amount on June 15 and institutional-like trades (such as Metaplanet's 1,111 BTC) on June 16. Stablecoin flows and meme coin deposits showcased the market's activity. It's important to note that not all whale moves translate into immediate market impacts; some transactions signify portfolio rebalancing. Overall, it was a noteworthy week for crypto whale trading, which invites traders and analysts to pay close attention.
