While Bitcoin (BTC) and altcoin prices continue to move sideways, the same is not true for whales.
Although there is no movement in prices, large whales continue to trade.
According to Lookonchain’s report, a newly created wallet deposited a total of $4 million worth of USDC into the platform over the past four days. It then opened transactions in Bitcoin and Ethereum.
However, the whale is expecting a rise in one and a fall in the other. Specifically, the whale opened a long position in Bitcoin expecting an increase, while opening a short position in Ethereum.
Accordingly, the whale opened a long position on 218.6 Bitcoin, worth $19.15 million, with 10x leverage. Conversely, it opened a short position on 5,294 ETH, worth $15.5 million, also with 10x leverage.
Liquid prices were $71,392 for Bitcoin and $3,588 for Ethereum.
Another whale acquired a large amount of ZEC. Lookonchain reported that a newly created wallet (t1XKfb) purchased 30,000 ZEC from Binance, worth $13.25 million.
An institutional whale purchased a large amount of Worldcoin (WLD). Accordingly, a wallet (0xf000) affiliated with Multicoin Capital bought 60 million WLD, worth $30 million, at $0.50 per ton OTC.
Lastly, Erik Voorhees, one of Bitcoin’s early advocates and founder of ShapeShift, once again exchanged his Ethereum for Bitcoin Cash (BCH). He has been exchanging his ETH for BCH in recent weeks. Lookonchain reported that Erik Voorhees invested another 1,635 ETH ($4.81 million) in THORChain, exchanging it for BCH.
*This is not investment advice.
