Crypto Whale Buys Big
Amid a market downturn, a major crypto whale strategically invests $120 million in Shiba Inu, PEPE, Ethereum, and other diverse assets.
Amid market turmoil, a notable whale has enhanced their portfolio. Significant transactions include acquiring 957.77 billion PEPE and 583.78 billion Shiba Inu tokens, plus other meme coins. The whale notably withdrew $120 million worth of various assets from Binance, showcasing a broad investment strategy across 14 different cryptocurrencies.
A fresh wallet withdrew more than $120M worth of assets from #Binance 2 hours ago.
Including:
40.7M $USDT
9,425 $ETH($30.15M)
957.77B $PEPE($9.84M)
583.78B $SHIB($9.68M)
16,192 $BNB($9M)
58.15M $DOGE($6.95M)
438,721 $RNDR($3.17M)
5.18M $MATIC($2.81M)
3M $FTM($1.59M)
9.49B… pic.twitter.com/lOrROZzVYl — Lookonchain (@lookonchain) July 3, 2024
The overall crypto market cap fell by 4.34% to $2.16 trillion due to liquidations and increased bearish sentiment, with nearly all cryptocurrencies showing negative price action.
Despite this turmoil, on-chain data shows many whales are selling their holdings. One whale transferred 1,723 BTC worth $106 million to Binance in the last 24 hours, showing a cautious approach. However, a new whale wallet is taking advantage of the price dip, actively accumulating various cryptocurrencies from Binance.
A new whale wallet has made significant investments, especially in Ethereum (ETH). The whale accumulated 9,425 ETH worth $30.15 million, likely expecting a price rise due to the upcoming launch of Spot Ethereum ETFs.
In addition to ETH, the whale has also invested heavily in meme coins. They acquired 957.77 billion PEPE tokens worth $9.84 million and 583.78 billion SHIB tokens worth $9.68 million, indicating a strategic purchase of undervalued assets.
The whale's diversified portfolio includes significant holdings in other meme coins and major cryptocurrencies, such as:
58.15 million DOGE worth $6.95 million
9.49 billion FLOKI worth $1.56 million
Other investments include:
40.7 million USDT (Tether)
16,192 BNB worth $9 million
438,721 RNDR worth $3.17 million
5.18 million MATIC worth $2.81 million
3 million FTM worth $1.59 million
104,128 LINK worth $1.5 million
840,776 FET worth $1.06 million
39,141 AVAX worth $1.05 million
2.76 million GRT worth $556,000
In conclusion, despite the bearish sentiment and significant sell-offs by other whales, this whale's aggressive strategy highlights a different approach. Investing in a wide range of assets, including Ethereum and meme coins, positions them to potentially benefit from future market rebounds and the anticipated surge in Ethereum's price due to the forthcoming ETFs.
This strategic move during a market downturn underscores the dynamic nature of whale activity in the crypto space and shows the varied strategies investors can take based on their market outlook.
