• Unknown investor deposits $16 million worth of stablecoins into Binance in what could be an attempt to purchase more crypto assets.
• Whale spotted withdrawing seven figures worth of Chainlink (LINK) from Kraken, with a total withdrawal of $9.67 million LINK over the past three months.
• Crypto trading firm Jump Trading identified as accumulating four altcoins: Lido DAO (LDO), Mask Network (MASK), Perpetual Protocol (PERP) and LeverFi (LEVER).
Smart Whale Deposits $16 Million in USDC
An unknown investor with a history of savvy trades has made a large deposit of $16 million worth of stablecoins into Binance, potentially to purchase more crypto assets. The whale, whose moves have been tracked by blockchain-tracking firm Lookonchain, previously sold Ethereum at its local peak, exchanged USDC for ETH before it lost its dollar peg, and withdrew all assets from FTX right before the platform suspended user withdrawals.
Whale Withdraws Seven Figures Worth Of Chainlink From Kraken
Lookonchain also spotted a whale withdrawing seven figures worth of the decentralized oracle network Chainlink (LINK) from the crypto exchange Kraken. Over the past three months, this whale has withdrawn a total of 1,588,500 LINK ($9.67 million), with an average withdrawal price of $6.78 each time.
Jump Trading Accumulating Four Altcoins
Jump Trading was also identified as accumulating four altcoins: Lido DAO (LDO), Mask Network (MASK), Perpetual Protocol (PERP) and LeverFi (LEVER). Currently they hold 1.59 million MASK ($6.15million); 1.09 million LDO ($2.11million); 509 million LEVER ($686K); and 1.07 million PERP ($545K).
Crypto Markets Show Signs Of Strength
The on-chain data indicates that despite current market conditions showing some signs of weakness overall, there are still whales out there willing to make risky bets on cryptocurrency markets in order to gain profits – even when prices are down or uncertain about future performance..
Conclusion
This latest move by the unknown investor shows that despite market uncertainty and volatility, there are still those who are confident enough to put large amounts into cryptocurrency markets in hopes for big returns later down the line – which is always a risk worth taking!