Altcoins
Whale Spends $24,700,000 on Ethereum Altcoins After SEC Approves Listing of Spot ETH ETF: On-Chain Data
A crypto whale was spotted over the weekend scooping up huge amounts of altcoins from the Ethereum ecosystem after listing approval. ETH exchange-traded funds (ETFs) from the United States Securities and Exchange Commission (SEC).
First reported by blockchain tracking company Lookonchain, a whale with a series of wallets bought Ethereum just above the $3,000 mark just before news of a likely ETH ETF approval does not surface.
Shortly after ETFs got the green light from the SEC, the whale began to accumulate Ethereum-based altcoins, such as Lido (YES), Uniswap (United), Aave (AAVE), Ethereum Name Service (ENS) and Fraxshare (FXS).
“Prior to the ETH ETF news, a whale spent 26.67 million USDT to purchase 8,733 ETH at $3,054.56 and made an unrealized profit of approximately $6 million.
After the SEC approved Form 19b-4 for ETH ETFs, the whale purchased $24.7 million worth of Ethereum ecosystem tokens and made an unrealized profit of approximately $1.1 million .
He deposited 19.75 million USDT on Binance and withdrew 4.04 million LDO ($9.3 million), 684,364 UNI ($6.7 million), 52,623 AAVE ($5.4 million ), 82,041 ENS ($2 million) and 250,969 FXS ($1.25 million) from Binance.
Source: Lookonchain/X
Lookonchain also spotted a whale on the Solana (GROUND) network turning their main holdings lie further out on the risk curve, opting for Dogecoin (DOGE) dogwifhat rival (Wireless).
“A whale spent 17,966 SOL ($2.98 million) to purchase 953,177 WIF at $3.13 in the last 5 hours, causing the price of WIF to increase by approximately 7%.
This whale previously spent 1 million USDC to buy 355,417 WIF at $2.81 on May 21, then sold it at $3.07 for 1.09 million USDC on May 22, or $90,000.
At the time of writing, WIF is trading at $2.99.
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