This Altcoin’s Biggest Whale Keeps Buying, Onchain Data Shows

The cryptocurrency whale, whose short address is 0xe8f and is the largest individual holder of the Bluzelle (BLZ) token, accumulated another 11.1 million BLZ ($2.06 million) from Binance at an average price of $0.185.

This comes after the same whale last accumulated 52.82 million BLZ ($4.72 million) from Binance at an average price of $0.08938 about two months ago, before a sharp price increase.

Interestingly, the whale with address 0xe8f has not accumulated any other tokens, including ETH, other than BLZ. Currently this whale holds a total of 63.92 million BLZ ($11.82 million), accounting for 12.8% of the total supply.

This move by the whale resulted in an estimated unrealized profit of $5.25 million (77.4%).

The other major BLZ token holder, the whale with short address 0xbf2, currently holds 56,959,910 BLZ ($6.74 million), or 11.4% of the total supply. These tokens were deposited from Binance on August 16, 2023 (67 days ago) at an average of $0.08723 ($4.97 million). This resulted in an unrealized profit of $5.77 million (+116%).

*This is not investment advice.