Amid the volatility of the crypto market, crypto whales seem to seize the moment by throwing massive parties on weekends. They pulled millions of dollars worth of digital assets from Binance, the world's largest crypto exchange, in a move that surprised many.
Whale Targets Altcoins and Memecoin
According to data from Lookonchain, a leading blockchain monitoring firm, on Saturday (May 4, 2024), these crypto whales are carrying out a massive accumulation of digital assets from various high-profile projects.
Their target is Chainlink (LINK), a decentralized oracle token; Pepe (PEPE), a popular meme token; Uniswap (UNI), a leading decentralized exchange; Maker (MKR), a stablecoin governance token; and Ethereum Name Service (ENS), a decentralized domain naming system on the Ethereum blockchain.
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Whale Withdraws Billions of PEPE Tokens
One of the most attention-grabbing actions is a crypto wallet with a 0x1A2E... On May 4, the wallet withdrew 322.48 billion PEPE tokens worth $2.78 million (Rp44.61 billion) from Binance. At the same time, the aavebank.eth wallet also does not want to be left behind.
They withdrew 500,000 UNI tokens worth $3.75 million (Rp60.15 billion), 183,799 LINK tokens worth $2.62 million (Rp42.03 billion), 171 MKR tokens worth $500,000 (Rp8.02 billion), and 31,139 ENS tokens worth $483,000 (Rp7.75 billion).
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DWF Labs Saves 10 Million MATIC
Not only that, Lookonchain also found that DWF Labs, a well-known web3 investment firm, has transferred $2 million (Rp32.08 billion) worth of USDC to a multi-sign secure wallet that already stores 10 million Polygon (MATIC) tokens. This movement demonstrates DWF Labs' confidence in MATIC's future prospects.
Previously, at the end of April, Lookonchain had also reported the extraordinary actions of two crypto wallets that were whitelisted. Both wallets managed to score fantastic profits of 30,080 times that of meme assets built on Base, Coinbase's Ethereum (ETH) layer-2 scalability solution.
Memecoin BRETT
These whitelisted crypto wallets refer to addresses that have been approved to participate in certain crypto events, such as initial coin offerings (ICOs). According to Lookonchain, the two wallets spent 0.034 ETH worth $102 (Rp1.63 million) to purchase a total of 172.56 million BRETT tokens (BRETT) in February. Then, they sold the BRETT for 890.65 ETH for $3.14 million (Rp50.38 billion), making a tremendous profit.
Conclusion
The movement of these crypto whales shows some interesting things. First, they still seem optimistic about the prospects of the crypto market amid price fluctuations that occur.
Secondly, they have a strong belief in certain projects and are willing to invest heavily in those assets. Third, they take advantage of the moment carefully to look for maximum profit opportunities.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Latest Transaction Tracking Solution: Geth Live Monitoring Tool to Improve Ethereum Analytics
Ethena (ENA): Market Optimism and Whale Strategy
The United States Secretly Has 216,788 Bitcoins
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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