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While Bitcoin’s daily closing below $30,000 is making some investors nervous, the tense wait in altcoins continues.
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While investors were divided on the direction of the market, an intense sales traffic started in some altcoins.
Data analysis page Lookonchain, which tracks large purchases and sales by tracking wallets and on-chain data, recently drew attention to sales traffic in Compound.
Here are the latest movements of a whale wallet associated with the Compound team, as derived from on-chain data:
“So far 644,556 COMPs worth $47 million have been sent from Compound to a whale wallet.
This whale wallet sold $24 million worth of COMP in Cumberland and $725,000 worth of COMP on decentralized exchanges. He sent $6.5 million worth of COMP to Coinbase and Kraken.
It is stated that the whale wallet already has 402,462 COMP ($29.8 million) in Compound.
Whale last sent 20,000 COMP ($1.5 million) to Coinbase two hours ago.”