An unknown investor with a history of smart trades has deposited $16 million worth of stablecoins into Binance, possibly to buy more crypto assets.
First spotted by blockchain tracking company Lookonchain, the whale has already made three extremely peg transactions in the past, including selling Ethereum (ETH) to a local top, trading USDC for ETH before losing its dollar peg, and taking all of its money from crypto exchange pulled off FTX just before the bankrupt centralized platform suspended user withdrawals.
“A smart whale deposited 16 million USDC on Binance…
The smart whale:
34,000 ETH ($65.4 million) dumped when the price hit $1,930.
USDC exchanged for ETH during the USDC decoupling.
Removed all assets from FTX before FTX suspended withdrawals.
At the time of writing, it is still unclear what the whale did or plans to do with the $16 million worth of dry powder now on Binance.
Lookonchain also spotted a whale withdrawing seven digits of the decentralized oracle network Chainlink (LINK) from the crypto exchange Kraken, contributing to LINK’s withdrawal of $9.67 million.
“A whale has withdrawn another 353,500 LINK ($2.14 million) from Kraken…
The whale has taken a total of 1,588,500 LINK ($9.67 million) from Kraken over the past three months.
The average withdrawal price is $6.78.”
The blockchain tracker also saw wallets held by crypto trading company Jump Trading and identified four altcoins collected by the company, including liquid staking service provider Lido DAO (LDO), decentralized social network Mask Network (MASK), and decentralized derivatives platform. Perpetual Protocol (PERP) and the decentralized trading protocol LeverFi (LEVER).
“Jump Trading has collected MASK, LDO, LEVER and PERP over the past week.
Jump Trading currently has:
1.59 million MASK ($6.15 million);
1.09 million LDO ($2.11 million);
509 million LEVER ($686K);
1.07 million PERP ($545K).”
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Featured image: Shutterstock/Tithi Luadthong/Iryna_Khomenko
