Big Crypto Whales Make Big Trades as the Market Rises – Heres What They Trade

As the cryptocurrency market experiences bullish activity, the on-chain activity of some large whales is attracting attention. Recent data points to large-scale transactions, particularly on the Bitcoin and Ethereum side.

A whale with a wallet named bc1q0l, who had withdrawn 2,100 BTC from Binance after holding it for about four months, deposited 1,000 BTC (approximately $117.67 million) back into Binance just an hour ago, marking a profit. The whale had collected the Bitcoins at $84,861, a profit of approximately $68.8 million at current prices.

Meanwhile, Ethereum is also experiencing significant activity. A wallet with the address 0x247B, reportedly affiliated with the Ethereum Foundation, sold 1,207 ETH for 3.61 million USDC five hours ago.

On the same day, SharpLink Gaming, which received 10,000 ETH ($25.7 million) directly from the Ethereum Foundation, followed up with an additional 21,487 ETH ($64.26 million) from the over-the-counter (OTC) market and Coinbase Prime.

However, not every investor is bullish on the market. The rise in short positions in Ethereum is noteworthy:

• The wallet with address 0x8c58 deposited 3.74 million USDC in the last hour, shorting 18,394 ETH ($54.3 million) with 15x leverage.
• 0x2258 deposited 3.25 million USDC and shorted 16,219 ETH ($48 million) with 25x leverage.
• Another investor with the address 0xec4b opened a short position of 13,845 ETH ($41.07 million) with 15x leverage.

Amidst all this trading, institutional activity continues. BlackRock's Ethereum ETF, ETHA, recorded its highest daily net inflow in history yesterday: 106,827 ETH (approximately $320 million). This brings BlackRock's total ETH holdings to over 2 million ETH (approximately $6 billion).

*This is not investment advice.