The Fall in Bitcoin Stimulated the Altcoin Whales: Here are the Buyers, Sellers, Losers and Their Chosen Altcoins!

Surging Bitcoin Volatility Triggers Whale Activity

Amidst Bitcoin's recent two-way volatility, whale wallets have become active players. Some whales have capitalized on the decline, while others have seized the opportunity to sell during the rise.

Altcoin Market Movement

As BTC surged past $71,000 last week, altcoins experienced a parallel rise. However, with BTC's recent dip below $69,000, altcoins have also endured sharp losses.

Fresh Whale Wallets Acquire Altcoins

According to Lookonchain's observations, several newly created whale wallets have purchased UNI, BLZ, PEPE, and TRB from major exchanges Binance and OKX.

• 0x3492 acquired 870,827 UNI ($8.5 million) from OKX.
• 0xe841 acquired 7.69 million BLZ ($2.16 million) from Binance.
• 0x81cC and 0xf226 acquired 303.4 billion PEPE ($3.8 million) from Binance and OKX.
• 0x8499 acquired 20,628 TRB ($1.9 million) from Binance.

Sleeping Whale Sells Altcoin Holdings

Spot On Chain reports that a whale wallet that had been inactive for a year has recently deposited 3,800 MKR ($9.3 million) and 20,000 AAVE ($4.45 million) to Binance for sale.

• If sold at current market prices, the whale could potentially reap profits of $6.86 million (+281%) on MKR and $645k (+17%) on AAVE.

Unfortunate Whale Suffers Losses

An unlucky whale who believed they were purchasing at a low point has since sold their Ethenas (ENA) at a loss following the recent decline. This whale often purchases altcoins before major market movements, but has struggled to identify optimal exit points.

• This whale purchased 1.62 million ENA for $1.6 million USDC six days ago.
• As the price of ENA dropped by 23% (7D), the whale sold their entire position for only 1.32 million USDC.
• The whale incurred a loss of $283k (-17.6%) within a week.

Disclaimer: This article does not constitute investment advice.