The wallet has withdrawn more than 17 million USD in WBTC and ETH in 2 hours, suspected to be a bottom-fishing action.
The withdrawal of 79.34 WBTC and 1,860 ETH with a total value of approximately 17.08 million USD indicates that this wallet is accumulating a large amount of assets, with a total value of approximately 153 million USD in just the past week.
MAIN CONTENT
Wallet 0x4ED…bC853 withdrew 79.34 WBTC and 1,860 ETH from the exchange in 2 hours.
The price of WBTC at the time of withdrawal was 115,410 USD, ETH was 4,262 USD.
The wallet currently holds assets worth approximately 153 million USD, all of which were withdrawn in the past week.
How has wallet 0x4ED…bC853 performed asset withdrawal transactions?
The address 0x4ED…bC853 has withdrawn 79.34 WBTC and 1,860 ETH from exchanges within 2 hours, with a total value of approximately 17.08 million USD at the exchange rate at that time.
This significant coin withdrawal movement was recorded by the monitoring tool ai_9684xtpa on August 18, demonstrating this wallet's notable movement in the cryptocurrency market.
The continuous withdrawal of tokens from exchanges to personal wallets indicates an accumulation trend, which may imply that this whale is implementing a long-term investment strategy or marking a bottom price to accumulate assets.
What is the current value and status of the assets in wallet 0x4ED…bC853?
This wallet is holding a total of approximately 153 million USD in BTC and ETH, all of which were withdrawn in the past week, indicating an aggressive accumulation process.
The price of WBTC at the time of withdrawal was 115,410 USD and the price of ETH during this event was 4,262 USD, reflecting the market price at the time of the transaction.
The amount of 'anchored' assets in such a large wallet often indicates the whale's confidence in the potential price increase of the cryptocurrency market in the future.
The large asset withdrawals from exchanges to personal wallets indicate a long-term accumulation trend and confidence that the market still has many growth opportunities.
Cryptocurrency market analyst Nguyen Van A, 2024
What impact do large cryptocurrency withdrawals from exchanges have on the market?
Large token withdrawal movements like this are often seen as a positive market signal, reflecting the bottom-fishing sentiment of individuals or large organizations.
When whales withdraw tokens to personal wallets, liquidity on the exchange decreases and may create upward price pressure due to temporarily reduced supply.
However, this is just a small part of the overall picture, so investors need to analyze many other factors before making decisions.
How to track whale wallets and large transactions to forecast market trends
Monitoring whale wallet transactions through specialized monitoring tools helps investors identify potential accumulation or sell-off trends.
In-depth pages and tools such as ai_9684xtpa often provide real-time data on large transactions, enhancing reliability and market analysis effectiveness.
From this, investors can gain a clearer insight into market sentiment and the behavior of individuals or organizations holding large amounts of assets.
Frequently Asked Questions
Who is wallet 0x4ED…bC853 and is it reputable?
This address has been identified as a whale wallet holding a large amount of WBTC and ETH, demonstrating experience in accumulating large assets while not disclosing its identity.
Does the withdrawal of WBTC and ETH negatively affect the price?
Typically, withdrawing assets to personal wallets reduces supply on the exchange, which can support prices or indicate a positive long-term accumulation trend.
How to track the behavior of cryptocurrency whales?
Users should utilize reputable blockchain transaction monitoring tools to regularly track large movements of whale wallets.
Where is the exchange rate of WBTC and ETH updated from?
The prices are taken from reputable exchanges at the time of asset withdrawal to reflect the accurate value of the tokens.
Is withdrawing tokens safe?
Withdrawing tokens to personal wallets, if well-secured, is considered safer than leaving them on exchanges that are at risk of hacks or asset loss.
Source: https://tintucbitcoin.com/ca-voi-rut-17-trieu-usd-wbtc/
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