In response to Bitcoin's unexpected rise to $110,000, there has been increased activity among crypto whales. Transaction volumes and fund movements have been noted across various blockchain networks.
Large Whale Transactions
Onchain data shows a significant number of large transactions among crypto whales today. For instance, a newly created whale wallet withdrew 150 million SAHARA tokens worth $12.1 million via Binance.
Meme Coin Purchases and Sales
One whale made an interesting yet unfortunate move. The wallet spent $1.59 million to buy a meme coin called COMPANY and sold it for $16,283 just a minute later, resulting in a loss of $1.58 million in less than a minute.
Investments in Decentralized Platforms
Another crypto whale deposited $8.76 million worth of USDC into decentralized crypto exchange Hyperliquid and then purchased $8.66 million worth of HYPE tokens. The average purchase price for the whale wallet was $40.13.
The activity of crypto whales during Bitcoin's price increase highlights market volatility and the potential opportunities available to participants, while also emphasizing the risks associated with cryptocurrency investments.
