Big Crypto Whales Make Big Trades as the Market Rises – Here’s What They Trade

As the cryptocurrency market experiences bullish activity, the on-chain activity of some large whales is attracting attention. Recent data points to large-scale transactions, particularly on the Bitcoin and Ethereum side.

A whale with a wallet named bc1q0l, who had withdrawn 2,100 $BTC from Binance after holding it for about four months, deposited 1,000 $BTC (approximately $117.67 million) back into Binance just an hour ago, marking a profit. The whale had collected the Bitcoins at $84,861, a profit of approximately $68.8 million at current prices.

Meanwhile, Ethereum is also experiencing significant activity. A wallet with the address 0x247B, reportedly affiliated with the Ethereum Foundation, sold 1,207 $ETH for 3.61 million $USDC five hours ago.

On the same day, SharpLink Gaming, which received 10,000 $ETH ($25.7 million) directly from the Ethereum Foundation, followed up with an additional 21,487 $ETH ($64.26 million) from the over-the-counter (OTC) market and Coinbase Prime.

However, not every investor is bullish on the market. The rise in short positions in Ethereum is noteworthy:

• The wallet with address 0x8c58 deposited 3.74 million $USDC in the last hour, shorting 18,394 $ETH ($54.3 million) with 15x leverage.
• 0x2258 deposited 3.25 million $USDC and shorted 16,219 $ETH ($48 million) with 25x leverage.
• Another investor with the address 0xec4b opened a short position of 13,845 $ETH ($41.07 million) with 15x leverage.

Amidst all this trading, institutional activity continues. BlackRock's Ethereum ETF, ETHA, recorded its highest daily net inflow in history yesterday: 106,827 $ETH (approximately $320 million). This brings BlackRock's total $ETH holdings to over 2 million $ETH (approximately $6 billion).

*This is not investment advice.