Recent developments in the cryptocurrency market have drawn attention from traders and analysts alike. A significant whale's return to selling its assets raises questions about its impact on the market.
Whale Resumes Bitcoin Sales
A prominent whale, which became well-known in the market in 2016, has recently started selling its holdings again. This activity caught attention after the whale sold $4 billion worth of Bitcoin and exchanged them for Ethereum. According to Lookonchain, two addresses linked to the whale's main wallet sent 1,176 BTC worth approximately $136 million to Hyperliquid. "After a two-week hiatus, BitcoinOG has started selling BTC again, exchanging 35,991 BTC (worth $4.04 billion) for 886,371 ETH ($4.07 billion)!"
Activity Among Altcoin Whales
In addition to the large Bitcoin whale, altcoin whales are also quite active. Analyst Ali Martinez reported that 5.34 million Chainlink (LINK) were withdrawn from exchanges in the last 24 hours, equating to approximately $129.33 million at current Chainlink prices. Such large withdrawals are generally interpreted as signals of potential price increases for certain altcoins. Additionally, data show that whales continue to accumulate Ethereum (ETH), with a new wallet '0x9D99' withdrawing 5,297 ETH (worth $24.7 million) from Binance and Bitget.
XRP Trading: Sales Among Whales
XRP whales are also engaged in selling. Analyst Ali Martinez reported that whales sold 160 million XRP in the last two weeks, equivalent to $484.5K at the current XRP price. This could indicate a shift in market sentiments among XRP holders.
In conclusion, the recent activity of whales in the cryptocurrency market continues to attract the attention of analysts and traders. The sales of Bitcoin and accumulation of Ethereum may signal upcoming changes in market trends.
