Whale Takes Action on These Three Altcoins: Withdraws Massive Amounts

On-chain analytics platform Lookonchain reported today that a newly created wallet withdrew three different altcoins from OKX. The total value of the transfers reached approximately $6 million, at the prices used for the sharing.

1.15 million $LIT was sent to a wallet starting with “0x1c75”. This portion was estimated to be worth approximately $3.31 million and constituted the largest item in the transfer package.

The same address also withdrew 7.995 million $ENA worth approximately $1.51 million and 7.31 million $ARB worth $1.18 million. Thus, the total value of the three assets was approximately $6 million.

While the consolidation of the transfers into a single new wallet is noteworthy, the owner of the address or the purpose of the transaction has not been disclosed. $LIT accounts for more than half of the total dollar value, while $ENA and $ARB were moved to the same wallet in smaller shares.

$ENA’s price, in particular, hit a sharp low during the recent altcoin downturn. Whether whale wallets took advantage of this low point and made purchases is not definitively known.

*This is not investment advice.