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Home»ALTCOIN NEWS»Whale Quickly Accumulates Nearly $53,000,000 Worth of Ethereum and Wrapped Bitcoin: Lookonchain
ALTCOIN NEWS

Whale Quickly Accumulates Nearly $53,000,000 Worth of Ethereum and Wrapped Bitcoin: Lookonchain

By Crypto FlexsFebruary 9, 20242 Mins Read
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Whale Quickly Accumulates Nearly ,000,000 Worth of Ethereum and Wrapped Bitcoin: Lookonchain
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According to blockchain tracking firm Lookonchain, one cryptocurrency whale has gobbled up about $53 million worth of Ethereum (ETH) and Wrapped Bitcoin (WBTC) since December 21.

Look on chain note Whales spent $20 million of the stablecoin USDC earlier this week to purchase $10 million worth of ETH and $10 million worth of WBTC.

USDC is the second largest stablecoin by market capitalization and aims to maintain a 1:1 peg with the US dollar.

Since December 21, whales have purchased a total of 13,843 ETH (average price $2,388) and 461 WBTC (average price $43,168).

WBTC is an ERC-20 token pegged to the price of Bitcoin (BTC), allowing traders to speculate on Bitcoin while remaining within the Ethereum ecosystem. The 17th largest cryptocurrency asset by market capitalization is trading at $43,530 at the time of this writing. As of this writing, ETH is trading at $2,411.

Recently, a mysterious cryptocurrency whale or entity appears to have hoarded the native assets of the decentralized oracle network Chainlink (LINK), according to Lookonchain.

cryptocurrency tracker report Whales or institutions withdrew 2,745,815 LINK worth $49.9 million from leading cryptocurrency exchange Binance through 49 new wallets.

LINK is trading at $18.47 at the time of this writing. The 13th-largest cryptocurrency asset by market capitalization is up more than 18% in the past seven days and more than 28% in the past month.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and that you are responsible for any losses that may occur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Image created by: Midjourney

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