A crypto whale who masterfully traded Ethereum (ETH) to the tune of $36 million in profit last year is once again in accumulation mode. According to the on-chain analytics firm Looksonchain, the whale appears to be a smart money institution that bought ETH at the bottom and sold it at the top in 2022. This […]
The post Whale Who Netted $36,000,000 By Masterfully Trading Ethereum Is Now Accumulating Three ETH-Based Crypto Assets: Looksonchain appeared first on The Daily Hodl.
One of the largest Polygon (MATIC) and Shiba Inu (SHIB) whales on record is now accumulating a pair of Ethereum-based altcoin projects. The whale in question holds the keys to the 94th-largest Ethereum (ETH) wallet on record, worth about $132,163,000 at time of publishing. The whale’s top holdings include $22.9 million of Ethereum (ETH), $21.6 […]
The post Massive Polygon and Shiba Inu Whale Quietly Accumulating Ethereum-Based AI and Gaming Projects appeared first on The Daily Hodl.
A leading blockchain data monitoring website says a long-dormant Bitcoin (BTC) address is suddenly awakening after nearly 11 years of inactivity. According to BitInfoCharts, the address, which was last active in October 2012, recently transferred 412 Bitcoin valued at over $9.5 million at time of transfer. BTC was priced at about $12.50 when the wallet […]
The post Ancient Bitcoin Whale Moves $9,600,000 in BTC at 181,204% Profit in Sudden Awakening appeared first on The Daily Hodl.
A crypto venture firm has snapped up billions of Shiba Inu (SHIB) tokens during a massive multimillion-dollar accumulation spree. New data from blockchain search engine Etherscan reveals that Chicago-based trading firm Jump Trading has seen its trove of SHIB grow exponentially from 250,000 on February 4th to just over 130.7 billion at time of writing. […]
The post Crypto Venture Firm Acquires 130,722,306,727 Shiba Inu (SHIB) in Massive Accumulation Spree appeared first on The Daily Hodl.
As Bitcoin floats above $23,000, three huge Bitcoin and Ethereum whales are turning heads among crypto traders. In total, the whales moved a staggering $743 million in crypto in just three transactions. A Bitcoin whale made the first move on Friday, sending 13,369 BTC worth $311 million from one unknown wallet to another. The crypto […]
The post Bitcoin and Ethereum Whales Move $743,000,000 in Crypto in Three Massive Transfers appeared first on The Daily Hodl.
A few weeks ago, Binance CEO declared that exchanges moving large amounts of crypto to prove their wallet address is not good news.
Cryptocurrency exchange Binance is moving large amounts of cryptocurrency as part of its proof-of-reserve (PoR) audits, according to the CEO.
Binance sent 127,351 Bitcoin (BTC), or more than $2 billion, to an unknown wallet on Nov. 28, Whale Alert reported on Monday. According to on-chain data, the transaction occurred at 10:00 am UTC, costing Binance just a 0.000026 BTC ($0.42) fee.
The huge Bitcoin transaction has immediately triggered some FUD in the community, with many noting that Binance has moved an amount that is an entire fortune in one single transaction.
Binance CEO Changpeng Zhao subsequently took to Twitter to announce that the massive transaction is part of Binance’s PoR audit process. He also called the community to keep calm and ignore the FUD, stating:
“The auditor requires us to send a specific amount to ourselves to show we control the wallet. And the rest goes to a change address, which is a new address. In this case, the input tx is big, and so is the change."
The CEO also referred to an old post on Twitter that he posted four years ago, calling on the crypto community to “learn about blockchain transactions” and “change addresses.”
“We will be moving some funds between our cold wallets. A tell tale sign of a new cold wallet on Binance is two small transfers from and back an existing wallet, then a large transaction. No need to be alarmed,” Zhao wrote in a tweet in October 2018.
In response to growing FUD in his comments, Binance CEO posted another tweet, arguing that investors that “believe FUD all the time,” are also “likely to be poor.”
I know it's hard.
— CZ Binance (@cz_binance) November 28, 2022
If you thought a fraudster is legit, you probably are already poor.
But...
If you believe FUD all the time, you will also likely to be poor.
Life is not easy.
The latest Binance transaction has apparently raised eyebrows of investors as Zhao himself declared that exchanges moving large amounts of crypto to prove their wallet address is not good news. On Nov. 13, Zhao wrote on Twitter the following statement:
“If an exchange have to move large amounts of crypto before or after they demonstrate their wallet addresses, it is a clear sign of problems. Stay away. Stay #SAFU.”
The news comes shortly after former Kraken CEO and co-founder Jesse Powell argued Binance’s PoR approach was “pointless” without liabilities.
Related: CoinMarketCap launches proof-of-reserve tracker for crypto exchanges
A number of industry experts, including DAO Maker Hassan Sheikh and JAN3 CEO Samson Mow, are also confident that exchanges’ PoR practice is useless without liabilities because it’s very difficult for exchanges to fake liabilities.
On Nov. 16, 2022, at Bitcoin block height 763,474, someone transferred 6,522 bitcoin worth roughly $107 million after the coins sat idle for more than five years. While bitcoin’s value is 75% lower than it was a year ago, so-called sleeping bitcoins have been waking up amid the recent crypto market capitulation. While Bitcoin’s Price […]
On Nov. 11, amid the confusion concerning troubled crypto companies like FTX and Blockfi, 3,500 ‘sleeping bitcoins’ from a wallet created on Oct. 7, 2011, moved for the first time in over 11 years. $60 Million Worth of 11-Year-Old Bitcoins Move Amid the Crypto Market Rout A large string of so-called ‘sleeping bitcoins’ moved on […]
A Bitcoin whale has moved 3,500 BTC to new wallets for the first time since 2011, changing the address format from P2PKH to P2SH.
Amid the ongoing market turbulence for Bitcoin (BTC) and other cryptocurrencies, some big investors are waking up to move their BTC holdings that were untouched for about a decade.
According to on-chain data, seven dormant Bitcoin wallets awakened on Nov. 11 to move a total of 3,500 BTC ($60,6 million) to new addresses. A transaction fee for one of these 500 BTC transactions ($8.7 million) amounted to just 0.00011383 BTC, or $2.
Blockchain researcher and developer Kirill Kretov flagged the transactions in a LinkedIn post, noting that the new addresses were “not consolidated” yet.
Each of the mentioned seven addresses was holding 500 BTC for about 11 years, with all seven receiving the stash on July 10, 2011. All of the wallets received the amount at the exact same time, 12:22 pm UTC, and for each of them, it was the very first transaction.
Kretov pointed out that the new wallets have changed the address format from pay-to-public-key-hash (P2PKH) to pay-to-script-hash (P2SH). P2PKH is the most common script type for Bitcoin transactions, where transactions are resolved by sending the public key and a digital signature created by the corresponding private key.
Unlike P2PKH, the P2SH format allows transactions to be sent to a script hash instead of a public key hash, requiring recipients to provide a script hash and additional data. According to online sources, the recipient might need the signatures of several people to spend Bitcoin on P2SH format addresses, or a password might be required.
Related: How to transfer $1 billion for basically free: Bitcoin whale watching
The awakening of dormant BTC addresses isn’t something new to the Bitcoin community. In mid-October, a Bitcoin whale moved as much as 32,000 BTC for the first time since 2018.
Previously, another big BTC investor moved out as much as 48,000 Bitcoin from Coinbase Pro, CryptoQuant CEO Ki Young Ju reported. A large portion of the moved Bitcoin was reportedly dormant since 2011. Last year, Cointelegraph reported on a dormant Bitcoin wallet that moved 321 BTC for the first time since 2013.
Crypto whale action can affect the price of cryptocurrencies and tracking these whales can offer invaluable and timely insights into price movements.
Whale tracking tools like Whale Watchers, Whale Bot Alerts and others can help investors spot whale action and make quick and timely decisions.
Whale tracking tools come with different capabilities, some can be just a simple window on top of a blockchain, while others have analytics and charting capabilities across multiple blockchains. Some only cover crypto whale tracking, while others offer NFT whale tracking too.
Various analytics tools offer just simple analytics and notifications on whale activities, while others provide users with more comprehensive learning opportunities on charts and analytics. Some just do a simple feed, while others tap into channels like Twitter and Telegram to keep users informed.
Some of the key tools for whale watching are Whale Watchers, Whale Bot Alerts, Whale map, Whale alerts, Clank App and Coincarp. Apart from these, tools like Etherscan and Solscan sit on top of their respective blockchains to offer whale-tracking functionalities.
One can get as technically savvy as possible with whale tracking. Yet, market reaction to a whale transaction is not entirely predictable. It is useful to have information around whale behavior, yet, that is just one input that will affect the price action of cryptocurrencies. That is especially true in a market largely driven by macro-economic factors.
Thanks to whale tracking tools, investors are able to identify wallets that whales own and track them for buy and sell action due to the transparency that blockchain offers. Using tracking tools helps with the automation of the tracking process.
Most crypto investors own more than one cryptocurrency in their portfolio. In order to be informed of market movements, they will need to identify and track several wallets that hold large volumes of the cryptocurrencies they are interested in. On-chain analytics tools offer this functionality.
Tracking tools scan through a blockchain, and when a transaction gets committed by a whale wallet, spot them in real time and notify the user. These tools can also help identify transactions that are over a specific size, thereby allowing users to conduct discovery of the whales within that crypto ecosystem.
On a similar note, NFT collections can be tracked for actions like the listing of new nonfungible tokens below floor price, sale of NFTs at bid price, floor sweeps and others. The floor price of a nonfungible token collection is the minimum price at which an NFT can be bought. Occasionally, when the market appetite for an NFT collection is poor, the floor price comes down.
The fall in floor prices often begins with one holder of the NFT listing it below the floor price. Therefore, whale tracking tools can be used to spot such behaviors so that an investor is made aware and act accordingly.
Floor sweep, on the other hand, indicates high demand for an NFT collection. This refers to the action when someone buys many nonfungible tokens in a collection that are listed at the floor price. Whale tracking tools can spot when a whale’s wallet sweeps the floors of a new collection. This will alert NFT investors, who can then start tracking the new collection.
There are dedicated solutions to track the actions of crypto whales. These solutions can provide analytics on whale actions and, in some instances, can also make investment/trading decisions for the user.
Crypto traders and investors constantly track the amount of cryptocurrencies going in and out of exchanges. When a cryptocurrency like Bitcoin or Ether (ETH) is moved in large quantities into an exchange, it is expected to see some sell action resulting in a fall in price. Conversely, if cryptocurrencies flow out of exchanges into wallets, it is considered a precursor to a rise in price.
This is because when exchanges have a high net outflow of cryptocurrencies, they have reduced supply resulting in an increase in price. Oftentimes, a whale could buy cryptocurrencies on an exchange and move them into their wallets in large volumes. This could result in a bullish price action for the crypto.
In some scenarios, whales may choose not to disturb the markets by buying or selling on an exchange. They would do an over the counter (OTC) transaction between two wallets. For instance, they may send Bitcoin to a wallet that will send USD Coin (USDC) back, resulting in a sale of BTC without the market spotting the transaction.
When the blockchain records a large transaction, investors can study the transaction and pick up the wallets involved in it. If the wallets hold large cryptocurrency positions, they can be labeled as crypto whale wallets. From then on, a regular check on these wallets and the transactions that are conducted can be insightful in assessing price movements of the crypto held in the wallet.
Whale tracking can be equally beneficial in the NFT markets too. Most NFT communities have large holders of the collection. In many instances, these NFT holders are identified by the community. Tracking the behavior of wallets of these whales can help investors make quick buy/sell decisions.
For instance, if a famous NFT collector or a whale sweeps the floor of a nonfungible token collection, that can indicate high convictions. Followers of the NFT collection and the whale would notice that and purchase the nonfungible tokens. This behavior was noticed with Gary Vaynerchuk several times during the NFT bull market in 2021.
However, it can be overwhelming and time–consuming to manually stay on top of whale action, even when it is just for one cryptocurrency or NFT collection. This is where whale tracking tools come into play.
Most cryptocurrencies have a number of large holders of the asset who can influence the price of the crypto asset. For active investors and crypto traders, it helps to understand the market behaviors of these whales.
Crypto whales refer to large holders of cryptocurrencies. They can be individuals or organizations who often own more than 10% of crypto. For instance, MicroStrategy owns nearly 130,000 Bitcoin (BTC) and can move the price of BTC by their market participation. Therefore, tracking the action of crypto whales provides timely insights into the price movement of a crypto asset.
This is not just a crypto phenomenon. In traditional markets, when a big player like Warren Buffett, a brand or a hedge fund reveals that they have taken a position in a particular asset, the price of the asset rallies or vice-versa. That said, when these players sell an asset, the market typically follows.
With cryptocurrencies and nonfungible tokens (NFTs), all transactions are on-chain. Thanks to the transparency that blockchain offers, transactions performed by wallets held by whales can be spotted by the size of the crypto positions they hold. These wallets can be tracked to then understand how the wider market could behave.
