en.bitcoinsistemi.com
According to the latest onchain data, a newly created whale wallet withdrew millions of dollars worth of altcoins from cryptocurrency exchange Binance within an hour.
The whale, which attracted 5 million Storj (STORJ) worth $3.5 million and AAVE worth $4.3 million, bought these tokens from a central exchange, so it is unknown at what price level he bought them.
However, on the other hand, it is estimated that a malicious whale caused a sudden drop in the $YFI price. Its market value of approximately $250 million was later destroyed.
96.3% (approximately $60 million) of $YFI open positions on the decentralized exchange dYdX were liquidated. While $YFI is normally very rarely traded on dYdX, the recent increase in its price has seen open interest reach approximately $62 million.
dYdX founder Antonio Juliano, in his statement, argued that the price drop was due to the manipulation of a malicious person and announced that “excessively profitable trades” were banned on the platform.
The whale had managed to withdraw a large amount of USDC from dYdX just before the price drop. He also attempted an unsuccessful attack on the dYdX SUSHI market two weeks ago.
*This is not investment advice.