According to on-chain data, the largest non-exchange holder of dogwifhat, a Solana (SOL)-based Mimecoin, continues to accumulate WIF.
Blockchain tracking firm Lookonchain says Solana addresses beginning with “mmEAfW” have recently accumulated hundreds of thousands of WIF.
“The largest WIF holder used 1.54 million USDC to buy back 800,556 WIF at $1.92 each!
This whale currently holds 28 million WIF ($53.23 million) and has generated over $77 million in revenue from WIF!”
Last week, Lookonchain shared a chart showing the whales’ accumulation process: they bought aggressively during the March bull run, sold their profits in April and May, and are now slowly reaccumulating again.
At the time of writing, WIF was trading at $1.86.
Lookonchain also discovered another whale depositing a huge amount of Bitcoin (BTC) into Binance, the world’s largest cryptocurrency exchange, over the weekend, presumably to sell it on the open market.
According to blockchain tracker, this whale made millions of dollars in profits after holding BTC for months.
“A whale deposited 590 BTC ($38 million) into Binance to sell after the price of BTC went up, making over $15 million!
The whale bought 590 BTC ($22.7 million) on Binance on October 20, 2023, February 21, 2024, and April 16, 2024 at an average price of $38,472.
address:
18Txv4w4J31Un1gHBnxd6mPdNrkMaSvrJJ”
As of this writing, Bitcoin is trading at $64,145.
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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
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