Wallets with large crypto token balances often attract the attention of other investors. These “whale” wallets create huge swings with their trades and often make significant profits from their trades. Tracking crypto whale movements allows investors to analyze assets for potential opportunities. To this end, many analytics platforms have become popular for those looking to track whale transactions. In a recent development, according to OnChain Lens, a crypto whale has chosen to invest in PEPE coin and several other altcoins.
Whale spent millions of dollars to buy PEPE coin$PEPE
According to a report by on-chain data monitoring platform OnChain Lens dated December 21, a crypto whale invested 3.82 million DAI in various cryptocurrencies in the last 16 hours. This large purchase attracted attention in the market. The transactions carried out by the whale are listed as follows:
He spent 2 million DAI to buy 576.36 stETH.
He spent 1 million DAI and bought 53.09 billion PEPE coins.
He spent 673,000 DAI to buy 193.59 ETH.
Spent 150,000 DAI to get 85,962 LDO tokens. LDO is the governance token of Lido DAO.
These large purchases have led to various comments on the market. While some analysts argue that this move by the whale could be a sign of recovery in the market, others say that the current market uncertainty continues and such large transactions can only have short-term effects. Due to the nature of the crypto market, it is important for investors to be careful and do their own research.
Crypto whales are individuals or organizations that hold cryptocurrencies in large amounts, typically large enough to influence market prices and trends. These whales can include early investors, institutional investors, crypto exchanges, and blockchain co-founders. Their large holdings can sometimes create artificial demand for certain cryptocurrencies or put downward pressure, allowing them to make large trades.
Crypto whales can own a significant portion of Bitcoin, Ethereum, and other altcoins by operating on different blockchain platforms. Large purchases or sales can lead to market volatility, price changes, or changes in market sentiment. Therefore, tracking whale trading activities is an important analysis tool for small investors and traders looking for valuable insights into market movements. Crypto whales can have a profound impact on the market with their large-scale transactions, affecting prices, liquidity, and even governance.
