The cryptocurrency market has continued its upward trajectory
The cryptocurrency market has continued its upward trajectory, reaching a market value of $4 trillion by the weekend. This remarkable growth is marked by a 1.54% increase over the past 24 hours, drawing attention to significant investor activity, particularly from substantial crypto investors known as “whales.” These entities have been highly active, engaging in large-volume trades and playing a pivotal role in the market dynamics.
Ethereum Transactions and Major Acquisitions
On-chain data sources highlight substantial purchases of Ethereum
$4,302. Notably, a significant shareholder made massive transactions by acquiring 49,533 Ethereum via platforms like Galaxy Digital, FalconX, and BitGo, totaling $210.68 million. This investor holds approximately 940.7 million dollars worth of Ethereum, spread across six wallets.
In similar fashion, Arthur Hayes from Maelstrom adopted a diversified portfolio strategy. He invested a total of $6.85 million in Ethereum-related tokens, including Lido DAO, Ether.fi, and Pendle, enhancing his portfolio alongside 1250 ETH.
Analyst EmberCN mentioned, “On 8/2, believed BTC would drop to $100,000 and ETH to $3,000,” explaining the liquidation of ETH and ecosystem tokens in July, including ENA, AAVE, LDO, ETHFI, and PEPE.
Staking and Long-Term Gains
In addition to acquisitions, some whales have staked their assets for long-term passive income. For instance, an inactive address for three years staked 4,736 ETH, executing a $19.84 million transaction. This investor profited by $10.7 million, having initially entered the market with approximately $9.12 million worth of Ethereum.
Another significant wallet withdrew 2009 ETH from the Binance exchange for staking. OnChain Lens shared that 10,999 ETH ($46.69 million) was withdrawn and staked on EigenLayer and ETH2.0, resulting in a current profit of $13.53 million.
Major Sales and Profit Realizations
Some investors opted for profit realization recently. A fund associated with the 1inch team sold 5,000 ETH at an average price of $4,215, gaining 21 million USDC. Additionally, the team sold 1INCH tokens, earning a total profit of $8.36 million.
Furthermore, assets acquired through cyber attacks also changed hands. Lookonchain reported that Infini Exploiter sold 1,771 ETH ($7.44 million) today. Following a February 24 attack, 49.5 million dollars were stolen and used to purchase 17,696 ETH. As ETH appreciates, sales have proceeded, and they still hold 9,154 ETH ($38.85 million).
Beyond Ethereum, substantial investors have been active in other crypto assets as well. A participant borrowed 20 million USDC from Aave and acquired 109.6 WBTC on the Kraken exchange, increasing their total holdings to 603.5 WBTC. EmberCN disclosed, “This whale maintains a cyclical credit strategy via Aave, continuing WBTC acquisitions with an average cost of approximately $90,382.”
Investor Movements in Popular Assets
Finally, there have been significant movements among major investors in popular assets like Bitcoin
$122,064, Solana
$185, and LINK. One investor withdrew $32 million in Bitcoin, while Galaxy Digital transferred 224,000 Solana to exchanges, hinting at potential sales. Moreover, a savvy investor withdrew 210,000 LINK from Binance, and Nansen CEO Alex Svanevik transferred 1 million LDO to Coinbase.
These developments highlight the substantial and varied trading, profit-taking, long-term positioning, and speculative activities persisting among major investors and institutional actors.
