With Bitcoin Drop, 7 Wallets Emptied These 2 Altcoins: Prices Are Falling!

While the decline in Bitcoin and cryptocurrencies in general continued, 7 wallets emptied 2 altcoins in Binance, further decreasing the prices.

On-chain data and analysis platform Spot On Chain's post on Twitter on July 3 included the large transfer of 7 wallets to Binance.

The 7 wallets in question recently deposited 2 altcoins to Binance at a loss of $12.38 million.

In total, the wallets deposited 4.44 million Lido DAO (LDO) to Binance, worth $7.91 million. It also transferred 49,771 tokens worth $4.47 million from decentralized finance (DeFi) giant Aave's native cryptocurrency, AAVE, to the exchange.

The total damage to the wallets is estimated at approximately $3.34 million.

In its statement, Spot On Chain examined the reasons behind wallets emptying tokens. The platform stated that although the launch of the Ethereum ETF is approaching, whales are still bearish and therefore they may be emptying their wallets.

According to CoinGecko data, LDO has been one of the most falling altcoins in the last 24 hours and is trading at $1.75 at the time of writing. On the other hand, it finds buyers at $88.31, with a decrease of 8.2% in the last 24 hours.