Giant whale addresses continue to accumulate
The cryptocurrency market rebounded last night, and the activities of giant whales on the chain today are also extremely frequent. According to the information shared by Spot On Chain, a wallet address that has been silent for 215 days converted all the Stablecoin held in the wallet into stETH today. The data shows that this address bought a total of 3,595 stETH (total value of about 6.5 million US dollars).
On the other hand, Ember Yu, an on-chain data analyst, also pointed out that Justin Sun withdrew some of the Liquidity from BNB Chain’s Stablecoin swap protocol Ellipsis this afternoon, and transferred a total of 5.31 million BUSD, USDT, and TUSD Stablecoin into the currency. Ann, another 5 million USDD was transferred to Huobi Exchange. However, since the gold flow cannot be tracked after entering the exchange, it is not 100% sure whether Sun Yuchen intends to use these Stablecoin to buy spot.
Additionally, the whale that has been withdrawing ETH from exchanges for the past week resurfaced again today. The data shows that the giant whale address beginning with 0x2c74 transferred 1,269 ETH from the Kraken exchange today, and this address transferred a total of 24,930 ETH from the Kraken exchange in the past seven days.
Some people Buy the dip and some people escape the top
However, of course not all whales are accumulating cryptocurrencies. According to the information shared by Lookonchain, the wallet address starting with 0xd275 withdraws 1,140 WBTC and 15,000 ETH from the decentralized lending platforms Compound and AAVE today, and transfers them to Coinbase, Kraken, Binance, and Bitfinex exchanges. This address also performed a similar operation on June 19.
As of now, the address still holds a total value of more than $100 million in encrypted assets, the vast majority of which are ETH.
