The latest figures show that an Ethereum whale deposited 3,000 ETH into Binance after making over 33.67 million USD in profits from ETH trading in the past 3 months.
This ETH deposit action was identified from the monitoring process of Ai Yi, who tracks the smart cash flows of Longling Capital, with the aim of having the ability to sell when the market is favorable.
MAIN CONTENT
The Ethereum whale believed to belong to Longling Capital has made a profit of 33.67 million USD from ETH trading since May 2023.
Recently, this whale transferred 3,000 ETH to Binance, a sign of preparing to sell.
Currently, the wallet still holds a large amount of 85,896 ETH, equivalent to about 260 million USD.
Which Ethereum whale has made a notable transaction recently?
Data from tracking expert Ai Yi shows that the Ethereum whale suspected to belong to Longling Capital made a significant transaction by depositing 3,000 ETH into Binance.
This action follows a series of low buy, high sell transactions that have helped profits from May 2023 to date reach up to 33.67 million USD. Transferring ETH to the exchange indicates preparation for liquidity or taking advantage of market opportunities.
What does a large deposit of ETH into the exchange mean?
When a large whale wallet transfers a significant amount of ETH to the exchange, this is often seen as a sell signal or preparation for liquidity trading.
"A large cash movement by whales increasingly affects market volatility, especially with ETH, where there is high liquidity and investor sensitivity."
Ngo Minh Quan, CEO of a blockchain analysis company, 6/2024
With 3,000 ETH deposited into Binance, the whale may be taking advantage of price increase opportunities or reducing risk during this period of high market volatility.
What is the current total ETH assets of this whale?
Although there have been many transactions out, this wallet still holds up to 85,896 ETH, equivalent to about 260 million USD at the latest market price, showing the scale of investment and influence in the cryptocurrency market.
"Holding a large amount of ETH shows a long-term investment strategy and the ability to influence global ETH price trends."
Tran Anh Tuan, cryptocurrency analyst from the Vietnam Blockchain Research Institute, 6/2024
Below is a comparison table of profits and the amount of ETH in the wallet of whales during the recent period
Time Estimated Profit (USD) Amount of ETH deposited to the exchange Amount of ETH still held May – July 2023 33.67 million Not disclosed ~85,896 14/7/2024 — 3,000 85,896
Frequently Asked Questions
What is an Ethereum whale?
These are large investors holding massive amounts of ETH, which can influence market volatility.What does depositing ETH into the exchange mean?
Typically to prepare for selling or liquidity trading, affecting supply and demand in the market.Who is Ai Yi in the field of cryptocurrency tracking?
An expert in smart cash flow analysis, monitoring whale activities in the cryptocurrency market.How to determine the profits of a whale?
Based on low buy high sell data and market prices at each point in time.How much is 85,896 ETH worth?
About 260 million USD at the current market price in mid-2024.
Source: https://tintucbitcoin.com/longling-capital-nghi-van-chuyen-3-000-eth/
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