en.bitcoinsistemi.com
Whale activity in the cryptocurrency market has increased significantly in recent hours, with large-scale transfers and trading transactions becoming the focus of investors.
The reactivation of long-inactive wallets and the large-scale asset transfers have sparked discussions about potential market shifts.
According to recent developments, a whale that had been dormant for approximately 7 months deposited 51,750 Solana ($SOL) tokens into the Binance exchange for approximately $4.75 million. However, it appears that this investor incurred a loss of approximately $4.37 million with this transaction. It is known that the same whale previously withdrew 50,000 $SOL tokens for $9.12 million and used them for staking.
On the other hand, state-sponsored transactions are also noteworthy. The Royal Government of Bhutan transferred a total of 519.7 Bitcoin ($BTC), worth approximately $36.75 million, to two different wallets, one of which was transferred to an address linked to QCP Capital. The Bhutanese government is likely preparing to sell.
In addition, a newly created wallet was observed withdrawing 474.54 $BTC (approximately $33.59 million) from Binance. On the Ethereum side, a more widespread movement was observed. Seven new wallets withdrew a total of 74,959 ETH ($161.13 million) from Binance and distributed it to different wallets.
Another notable development in the market was the intense whale interest in the $HYPE token. An investor with the address “0x96d” invested 2 million $USDC, increasing their position to 427,851 $HYPE. Having made purchases worth $15.08 million at an average cost of $35.24, the whale’s current asset value has reached approximately $17.2 million, with a profit of $2.14 million. Similarly, the newly created wallet “0xa58” also invested 2 million $USDC and purchased 51,850 $HYPE at an average price of $38.57.
*This is not investment advice.