Recent on-chain reports have unveiled intriguing activities in the crypto space as Bitcoin ($BTC) and Wrapped Bitcoin ($WBTC) witnessed notable price movement.
Lookonchain data indicates that a savvy whale made strategic moves after Bitcoin surpassed the $45,000 mark. The whale deposited a substantial 1,000 $BTC ($22.47M) into Binance after the recent surge.
Impressively, over the past two weeks, this whale deposited a total of 4,000 $BTC ($178.7M) on Binance at an average price of $44,673, indicating a well-timed selling strategy at peak prices. Notably, this stash of 4,000 $BTC was withdrawn from HTX and OKX in June 2022 at an average price of $21,000, resulting in a staggering profit exceeding $90 million.
A smart whale deposited all 1,000 $BTC($22.47M) to #Binance after $BTC rose above $45K today.
The whale deposited 4,000 $BTC($178.7M) to #Binance at an average price of $44,673 over the past 2 weeks, selling at a high price each time.
Through on-chain tracking, the whale’s… pic.twitter.com/eSZ6B32BjU
— Lookonchain (@lookonchain) January 8, 2024
Simultaneously, another whale capitalized on the rising price of Wrapped Bitcoin ($WBTC). The whale executed sales of 355 $WBTC, fetching 15.9 million $USDT at an average price of $44,875, translating to a profitable venture yielding $5.6 million in profit within the past 24 hours.
A whale started selling $WBTC after the $WBTC price increased!
The whale has sold a total of 355 $WBTC for 15.9M $USDT at $44,875 in the past 24 hours, making ~$5.6M!https://t.co/1KIBMToIDI pic.twitter.com/3Qc5TB5Ghs
— Lookonchain (@lookonchain) January 9, 2024
More $WBTC And $ETH Whales Movements To Watch
Further insights from Spotonchain’s on-chain analytics revealed substantial movements by institutions FTX and Celsius. FTX and Alameda Research collectively transferred $35.1 million worth of $WBTC and $ETH to centralized exchanges (CEX) amidst surging prices. Notably, FTX and Alameda Research moved $11.72 million, including 200 $WBTC ($9.39M) to Binance at a price of $46,952 and 1,000 $ETH ($2.33M) to Coinbase at $2,330.
🚨 Institutions #FTX and #Celsius moved $35.1M worth of $WBTC and $ETH to CEX as the $BTC and $ETH prices surged sharply in 24H.
1. #FTX and #Alameda Research moved $11.72M, including:
– 200 $WBTC ($9.39M) to #Binance at $46,952
– 1,000 $ETH ($2.33M) to #Coinbase at $2,3302.… https://t.co/oggGMhcUC8 pic.twitter.com/o79tjOQWLk
— Spot On Chain (@spotonchain) January 9, 2024
Celsius Network, on the other hand, unstaked and relocated 10,000 $ETH ($23.39M) to Coinbase and FalconX at an average price of $2,339. While Celsius still maintains a staked position of 556,927 $ETH ($1.28B), there are plans to unstake existing ETH holdings for creditors in the near future.
These strategic moves by whales and institutional players underscore the dynamic nature of the crypto market, with participants capitalizing on price fluctuations to maximize returns.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: thvideo/123RF // Image Effects by Colorcinch
Source: https://nulltx.com/whale-movements-in-crypto-space-amidst-price-surge-to-watch/