Crypto NewsAltcoinSleeping Giant Whale Awakens: Dumps All This AI Altcoin to Coinbase

Sleeping Giant Whale Awakens: Dumps All This AI Altcoin to Coinbase

A huge sleeping cryptocurrency whale woke up from its slumber and transferred its entire altcoin to the crypto exchange Coinbase.

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A dormant cryptocurrency whale known by the short address 0x3c1 deposited 1.94 million Render (RNDR) tokens, equivalent to $19.8 million, to Coinbase. This move came after a 10-month period of inactivity.

Whale had previously withdrawn these RNDR tokens from Coinbase at an average price of $2.39, and the tokens cost an estimated total of $4.63 million between June 3-27, 2023. If Whale actually sold now, they would have made an estimated profit of $15.15 million, an increase of 327% on their initial investment in RNDR. As of now, the whale no longer holds any RNDR tokens.

In another development, a multisig wallet with short address 0xf39, thought to belong to an investor or the project's wallet, sold another 1 million APE tokens, equivalent to $1.91 million, for 538.04 ETH at an average price of $1.90. This transaction was carried out within the last 1.5 hours through an intermediary wallet with address 0x382.

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Remarkably, multisig 0xf39 had recently acquired a total of 7 million APE tokens. These tokens were initially distributed from three “Apecoin: Token Distributor” wallets two years ago, and after passing through multiple intermediary wallets, they finally reached multisig 0xf39 on March 5, 14, and 30, 2024. This suggests that multisig 0xf39 is probably an investor's or the project's own wallet.

Since March 6, 2024, multisig 0xf39 has sold 5.09 million APE tokens equivalent to $10.75 million for 2,859.2 ETH at an average price of $2.11. After each wave of selling, the price mostly fell. Currently, multisig 0xf39 still owns 1.91 million APE tokens, equivalent to $3.67 million, of which it stakes 953 thousand APE tokens, equivalent to $1.85 million.

*This is not investment advice.

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