The crypto market is curious about the recent whale activities, expecting something big to happen. During the volatile market, some whales are trying to sell their holdings to book some profit, and some are transferring USDTs to hold some assets.
On July 30, 3 different whale activities grabbed the attention of the audience when they collectively transferred 175.4 million USDT to the world‘s leading exchange, Binance. This news burst out when the Bitcoin price dropped from around $69K to $66.9K.
The transfer of assets is made through the Ethereum blockchain at different times between 03:11:59 UTC to 04:33:59 UTC.
The analysts are trying to figure out the cause of these transactions, as the original reason is still unknown. Some analysts predict that this transaction might end in holding precious assets like Bitcoin, and Ethereum. Some say that these whales might be interested in booking major Altcoins like Solana, XRP, and ADA.
The first wallet made its transaction through the Ethereum blockchain by transferring a total of 63 million USDT at 03:11:59 UTC. The second transfer of funds on Binance took place at 03:36:23 UTC, and the third transaction was done at 04:33:59 UTC.
Big Whale Movements Affecting Market Sentiments
Recently, on July 29, a big whale transferred $14,929,313 worth of XRP on BitStamp, making its price stay at $0.6. The activity showed that the holder of the asset wants to sell it by booking some profit.
A big price change is witnessed whenever a whale alert is witnessed in the market, leading coins to hold their position in the volatile market. Sometimes the whale transfers a portion of their holding to the exchange to avoid selling pressure on the coin, and the same is done while purchasing an asset to avoid an irregular boost in the price of the asset.
