Ethereum Whale Unexpectedly Spends $104,000,000 on Two Alternative Coins: On-Chain Data

Ethereum Whale Unexpectedly Spends $104,000,000 on Two Alternative Coins: On-Chain Data

A wealthy investor is speculating on two crypto assets worth more than $100 million.The Ethereum (ETH) wallet known as BlueWhale0208 recently made enormous purchases of two alternative currencies in a matter of seconds, according to blockchain tracking firm WhaleStats


    The whale initially invested $11,992,500 to purchase 11,250,000 native tokens of the decentralized cryptocurrency exchange Serum (SRM).


The native asset of the well-known FTX cryptocurrency exchange, 3,046,875 FTX Token (FTT), was the next purchase made by BlueWhale0208 for an astounding $93.5 million. 


  The whale began shifting a sizable portion of its holdings elsewhere within 24 hours. The whale sold $23,536,257 worth of ETH in addition to the recently obtained SRM and FTT, bringing the wallet's value to little more than $3.1 million at the moment. 


Under the pseudonym "BlueWhale," other wealthy cryptocurrency investors recently made some sizable purchases as well. BlueWhale0117 purchased Polygon (MATIC), a layer-2 scaling solution, for $4.2 million last week, and BlueWhale0116 devoured a staggering 7,112,942 FTT for $213.2 million.

Whalestats tracks the investments made by the top 5,000 ETH wallets. However, they also keep a sizable amount of the stablecoins US Dollar Coin (USDC) and Tether (USDT) on hand. Ethereum itself continues to be by far the most popular digital asset in the whales' bags. 

   Additionally, the whales typically own 2.4 billion of Dogecoin (DOGE), a rival cryptocurrency (SHIB). 

Chainlink, a decentralized oracle network, rounds out the top 10, with the whales holding an average of 1,849 LINK tokens worth $16,072 each.



Sixtus Onyedikachi

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