- Crypto whales are actively buying some tokens in the market. One of the transactions is explosive.
- The whale spent $5 million to buy four cryptocurrencies.
Crypto whales are an important part of the crypto market. Some of the actions they take in the market can make other traders follow suit and do the same thing. However, it seems this particular whale is helping smaller crypto traders make trading decisions. So, here are the 4 cryptos the whale purchased.
Crypto Whales Activity Reveals a Goldmine
- Crypto whales are traders or investors that buy cryptocurrencies in large amounts. Many times, how they operate in the market is very crucial to what might happen. For instance, assuming a crypto whale is selling a particular crypto in large numbers, other smaller traders often panic. This is because selling off cryptos can make the price go down.
- Similarly, a whale buying and storing cryptocurrencies in large numbers represents something positive. This is because crypto whales usually invest with serious calculations and study. Most times, these crypto whales buying a particular cryptocurrency can make the price increase massively.
- The same happened when a crypto whale purchased large amounts of four cryptocurrencies. Apparently, these whales were buying from exchanges and transferring to unknown wallets. Even more, the choice of cryptocurrencies is interesting.
- Ethereum, Lido, Uniswap, and Aave are the four cryptocurrencies this whale purchased. Furthermore, the whale splashed a whopping $5 million USDT in buying these tokens. The whale bought 557 ETH at $1,676, 593,139 LDO at $1.69, 413,727 UNI at $4.83, and 17,203 AAVE at $58.
- Crypto analytics platform Lookonchain provided this data. Furthermore, Uniswap had the most purchases at $2 million. Also, the whale made purchases of Lido and Aave at $1 million each. The last here was Ethereum, and the purchase was nearly $1 million at $933k.
Current Price Range of Purchased Cryptocurrencies
- Sometimes, crypto whales can make purchases, and it ends in losses. Judging from the time when this whale purchased and the current price, there are some changes. At the time of writing, Ethereum is down by more than 2% at about $1646.
- On the other hand, Lido is down by more than 3% and is currently at $1.65. Uniswap isn’t doing well also, as it is down by more than 3% to $4.65. Lastly, Aave is down by nearly 1% to stand at $56.
- Apparently, all this shows that these cryptocurrencies suffered some losses since the whale bought them. However, from the look of things, it looks like the whale will hold them for a long time.
Conclusion
Crypto whales are an important part of the crypto industry. Some of their decisions can bring calm or fear in the market. Recently, Lookonchain made a discovery of tokens crypto whales are actively buying. Some of them are Ethereum, Lido, Aave, and Uniswap. To cap it all, the whale involved in this transaction spent a whopping $5 million for it.
