What Did Huge Altcoin Whales Do During the Rally? They Couldn’t Escape On-Chain Data
By: bitcoin sistemi|2025/05/09 05:00:05
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According to onchain data provided by Lookonchain, an altcoin whale has started to take a particularly bullish view on Ethereum (ETH).According to data observed on decentralized cryptocurrency exchange Hyperliquid, this whale added $8.88 million worth of USDC to his previous long ETH position today. With this addition, the whale’s positions increased to $36.3 million and currently has an unrealized profit of $1.4 million.In addition, onchain data suggests that some institutional whales are also hoarding Ethereum. According to the data, Abraxas Capital pulled 49,644 ETH worth $92 million from cryptocurrency exchanges Binance and Kraken today.Related News: What to Expect for Bitcoin, Ethereum, XRP, and Cardano After the Surprise Rally? Experienced Analyst Shares What's Needed for a Bull RunThe data also revealed that two different crypto wallets, likely belonging to the same person or entity, spent a total of $14.54 million worth of DAI and USDT to purchase 7,293 ETH worth around $15 million. The average purchase price of the whales was $1,993.At the time of writing, ETH is trading at $2,079.*This is not investment advice. Continue Reading: What Did Huge Altcoin Whales Do During the Rally? They Couldn’t Escape On-Chain Data
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