Big Whales Are Active: Wallets That Have Been Dormant for a Long Time Made Altcoin Transactions Today

Whales were observed to be extraordinarily active in the cryptocurrency market today. Large volume transactions were particularly notable in assets such as Ethereum ($ETH), $SYRUP and $HYPE.

An Ethereum whale that has been dormant for nearly 8 years transferred 1,764 $ETH to the Kraken exchange today. The transfer is estimated to have made the whale a profit of $3.93 million.

However, another whale or institution that participated in the Ethereum ICO in 2015 and received 50,000 $ETH sent its last 10,195 $ETH (approximately $25.6 million) to Kraken. It was calculated that this address sold the $ETH it received for only $15,000 during the ICO period at an average of $1,555 over 8 years, generating a total income of $77.76 million and a return of approximately 5,000 times.

Another whale address sent 5 million $SYRUP tokens to Binance. The transfer was valued at around $2.27 million. The address in question reportedly traded $ENA and $SYRUP on Binance and Flowdesk platforms over the past two weeks, and currently holds around 121.15 million $ENA (around $43.97 million).

Over the past two days, five different whales have purchased a total of 794,104 $HYPE tokens (approximately $27.8 million).

*This is not investment advice.