In a remarkable move, a whale has lent a staggering $29.07 million worth of $BNB through Venus to engage in the latest Binance Launchpool initiative.

Just seven hours ago, this whale withdrew 336 $BTCB from Binance and borrowed 49,001 $BNB, subsequently depositing the entire amount back into Binance for the purpose of participating in new coin mining for $HMSTR.

This address currently holds assets valued at an impressive $138 million, showcasing the whale’s significant position in the market.

Whale Borrowed 65,000 $BNB Equivalent To $38 Million 

Shortly after, another prominent whale, identified by the address 0x1E7…861ae, borrowed 65,000 $BNB—approximately $38.7 million—from Venus. This amount was also deposited into Binance to take part in the same new coin mining activity. This borrower is likely the largest asset holder participating in the Launchpool through lending within the past 24 hours.

巨鲸通过 Venus 借出 2907 万美金的 $BNB 参与币安 Launchpool😲

7 小时前他从 #Binance 中提出 336 枚 $BTCB 并借出 49001 枚 BNB，随后全部存入币安，价值 2907 万美金，大概率是为了参与最新一期 $HMSTR 新币挖矿

该地址的资产价值高达 1.38 亿美金，钱包地址 https://t.co/iEQBkkb4NY pic.twitter.com/9uxTtgzkP0

— Ai 姨 (@ai_9684xtpa) September 23, 2024

These actions underscore the increasing interest and participation from large investors in new coin launches, particularly through lending platforms like Venus. The significant amounts being moved indicate a bullish sentiment among these whales regarding the potential of the $HMSTR token.

As the market evolves, the activities of such large holders will be closely monitored, as they often set the tone for price movements and investor sentiment in the broader cryptocurrency landscape. The implications of these sizable transactions could have lasting effects on the market dynamics surrounding Binance Launchpool initiatives.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: archnoi1/123RF // Image Effects by Colorcinch

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