Cryptocurrency Whale Keeps on Accumulating WBTC Despite Major Loss

A cryptocurrency whale purchases 124 Wrapped Bitcoin ($WBTC) worth $7.37 million. As reported by Lookonchain, an analytical firm, this whale has been accumulating $WBTC despite facing a major loss of around $2.8 million. This isn’t the first time this whale has acquired 124 $WBTC, rather he has been buying and accumulating $WBTC since the 4th of July 2024.

Cryptocurrency Whale Purchases Total 846.5 $WBTC From Binance

As of now, he has purchased a total of 846.5 $WBTC worth approximately $53.76 million. He bought Wrapped Bitcoins ($WBTC) in different segments at the average price of $63,513 from Binance and deposited them into the Aave account.

Tracking his purchases, it comes to the screen that he borrowed $USDT from Aave, deposited it to Binance and used it to buy Wrapped Bitcoins ($WBTC). Then he started buying $WBTC on 4th July 2024, bought in segments, and started accumulating. At the time of press, the whale is down $2.8 million on his $WBTC holdings relating to the current price of $WBTC.

Whale Keeps on Accumulating Despite Losses

The whale last bought six hours ago and consistently accumulates $WBTC regardless of losses. His actions might be closely watched by the market predictions and he might be waiting for the right time to hit the opportunity. Currently, the whale is down by $2.8 million at the current price of $WBTC. As the crypto market is evolving, whale’s decision might become fruitful for him in the coming time. But, for now, this whale is accumulating $WBTC despite major losses.