Whales in the cryptocurrency market have executed strong transfer transactions and profit-taking on WBTC, generating profits of tens of millions of USD.
One whale bought 1,495 WBTC through a revolving loan and is gradually selling on Binance since the beginning of the year, yielding actual and potential profits of over 55 million USD.
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Whales bought 1,495 WBTC through revolving loans at an average price of 69,162 USD/WBTC.
Sold 923 WBTC on Binance at an average price of 99,957 USD/WBTC, realizing a profit of 28.42 million USD.
Still holding 553.8 WBTC with an unrealized profit of 27.2 million USD, total profits exceeding 55 million USD.
How did whales buy WBTC and what was the specific quantity?
According to on-chain analysis by expert Yu Jin published in mid-2024, this whale purchased a total of 1,495 WBTC between July and November 2023. The purchase method was using a revolving loan to leverage financial resources.
The average purchase price is about 69,162 USD for each WBTC, with a total transaction value of nearly 103 million USD, indicating the professional asset accumulation and growth strategy of the whale.
The use of revolving loans demonstrates the ability to manage risks and effectively leverage in cryptocurrency investments.
How much WBTC have whales sold and what profits have they made?
As of now, whales have sold 923 WBTC on Binance at an average price of 99,957 USD/WBTC, equivalent to nearly 92.26 million USD in revenue.
The actual profit from the sold WBTC amounts to 28.42 million USD, demonstrating high effectiveness in profit-taking when the market is bullish. Allocated selling in batches helps control liquidity and minimize price volatility risks.
The outstanding profits in WBTC trading indicate a calculated investment strategy and the ability to seize price appreciation opportunities in the cryptocurrency market.
Yu Jin, On-chain analysis expert, 2024
This is practical evidence of the successful application of trading techniques and large portfolio management in the cryptocurrency field.
How much WBTC are whales currently holding and what is the value of unrealized profit?
The unsold portion of WBTC remains at 553.8 WBTC, valued at approximately 65.51 million USD at current prices.
The unrealized profit based on this fluctuating value is approximately 27.2 million USD, raising the total profit (including realized and unrealized) to 55.62 million USD.
Continuing to hold a large amount of WBTC while taking partial profits shows a long-term investment strategy combined with the whales' ability to control cash flow flexibly.
Maintaining positions while taking profits helps reduce market pressure and optimize overall profits.
Yu Jin, On-chain analysis expert, 2024
Frequently Asked Questions
Who are the whales in the cryptocurrency market?
Whales are investors or institutions that own large amounts of cryptocurrency, capable of influencing the market through large transactions. The information is validated by in-depth on-chain analyses.
Why do whales use revolving loans when buying WBTC?
Revolving loans allow leveraging financial resources, increasing the capacity for larger investments while still controlling risks, enhancing portfolio management efficiency.
What is unrealized profit and why is it important?
Unrealized profit reflects the profit not yet realized on the held assets, serving to evaluate the potential for price appreciation or risks of price volatility in the future.
How do whales reduce risks when selling large assets?
Whales often sell in portions in small batches, taking advantage of market volatility to optimize profits and minimize negative impacts due to liquidity pressure.
How does the average buying and selling price of WBTC by whales affect the market?
The average buying and selling price from whales can create signals about price trends and liquidity, helping professional investors make timely decisions.
Source: https://tintucbitcoin.com/wbtc-ca-voi-chuyen-50-wbtc-binance/
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