New data shows that a deep-pocketed Ethereum (ETH) investor has woken up from a year of dormancy and is selling his crypto assets as the top altcoin loses momentum.
According to blockchain data tracker Lookonchain, the crypto whale has woken up from a twelve-month sleep and is sale its supply of ETH through decentralized exchange platforms (DEX).
“A whale that has been inactive for a year dumps ETH on DEX! So far, 18,865 ETH has been sold for four million DAI via four new wallets, the average selling price is $2,229. And currently has 5,588 ETH ($12.5 million) left.”
Ethereum is trading at $2,214 at the time of writing, down about 6% from its 2023 high of $2,359.
Lookonchain then turns its attention to the amount of decentralized oracle provider Chainlink (LINK) deposited into Binance, the top crypto exchange platform by volume. According to the data, there are non-circulating supply portfolios deposited 8.3 million LINK, worth $119 million at the time of writing, to Binance.
“The wallets [have] LINK has been deposited with Binance every three months since August 26, 2022.
Interestingly, the down payment is usually at the bottom of the price and the price rises after that.”
Chainlink is trading at $14.08 at the time of writing.
Concluding the analysis with the Solana-based (SOL) memecoin Bonk (BONK), Lookonchain say that while a smart trader lost $46,000 on November 1 and December 15, the same entity made a whopping $4.4 million trading the dog-themed meme asset.
“This trader has two wallets. Over the past year, the trader has withdrawn 334.5 billion BONK ($218,000). [from crypto exchange] MEXC and bought 32.18 billion BONK ($41,000) from DEX.
And deposited 204.2 billion BONK ($80,000) to MEXC, leaving 172.5 billion BONK (worth $132,000 on November 1). On November 1st he still lost $46,000, but today he made $4.4 million.”
BONK is trading at $0.0000205 at the time of writing.
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