Whale Accumulates Nearly $53 Million Worth of Ethereum and Wrapped Bitcoin: Lookonchain
A single crypto whale has rapidly acquired approximately $53 million worth of Ethereum (ETH) and Wrapped Bitcoin (WBTC) since December 21st, according to blockchain tracker Lookonchain.
Lookonchain reports that this whale recently spent 20 million USDC, a popular stablecoin pegged to the US dollar, to purchase $10 million worth of ETH and $10 million worth of WBTC.
The whale has been steadily accumulating these assets, with a total of 13,843 ETH bought at an average price of $2,388, and 461 WBTC purchased at an average price of $43,168. WBTC, an ERC-20 token tied to the price of Bitcoin, allows traders to engage in Bitcoin speculation within the Ethereum ecosystem.
Interestingly, Lookonchain also discovered evidence of another mysterious whale or institution accumulating Chainlink’s native asset, LINK. This entity withdrew 2,745,815 LINK, valued at $49.9 million, from Binance using 49 new wallets. LINK, currently standing as the 13th-ranked cryptocurrency by market cap, has seen substantial gains of over 18% in the past seven days and more than 28% in the past month.
As the crypto space continues to witness large-scale transactions and accumulation by these significant players, the market remains dynamic and full of potential opportunities.
Generated Image: Midjourney