Tuesday, March 5, 2024

Whale Quickly Accumulates Practically $53,000,000 Value of Ethereum and Wrapped Bitcoin: Lookonchain

A single crypto whale has devoured up practically $53 million price of Ethereum (ETH) and Wrapped Bitcoin (WBTC) since December twenty first, in keeping with the blockchain tracker Lookonchain.

Lookonchain notes that the whale spent 20 million of the stablecoin USDC earlier this week to purchase $10 million price of ETH and $10 million price of WBTC.

USDC is the second-largest stablecoin by market cap and goals to take care of a 1:1 peg to the US greenback.

Since December twenty first, the whale has bought a complete of 13,843 ETH, at a median worth of $2,388, and 461 WBTC at a median worth of $43,168.

WBTC is an ERC-20 token pegged to the worth of Bitcoin (BTC), permitting merchants to take a position on Bitcoin whereas staying inside the Ethereum ecosystem. The Seventeenth-ranked crypto asset by market cap is buying and selling at $43,530 at time of writing. ETH is buying and selling at $2,411 at time of writing.

A mysterious crypto whale or establishment additionally seems to have not too long ago been accumulating the native asset for decentralized oracle community Chainlink (LINK), in keeping with Lookonchain.

The crypto tracker stories that the whale or establishment withdrew 2,745,815 LINK price $49.9 million from the highest crypto alternate Binance by way of 49 new wallets.

LINK is buying and selling at $18.47 at time of writing. The Thirteenth-ranked crypto asset by market cap is up greater than 18% prior to now seven days and greater than 28% prior to now month.

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