The activity of crypto whales is always something worth monitoring, especially at times when you are looking for a broader picture of what is going on in the crypto market. That’s why we bring you a summary of the most relevant activity with USDT and BTC during these last hours.
For this, we will use the Whale Alert reports on Twitter. According to these, the crypto whales‘ preferred currencies so far have been USDT and BTC. This does not mean that other crypt currencies have not been mobilized, but that the percentage of activity is much higher with these.
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Crypto whales mobilize USDT and BTC, in what sense?
So far, at least 52,000,000 USDT have been mobilized from the Tether treasury to exchanges. Mainly, they have been taken to Binance, which indicates that there is a great demand for this stablecoin on the platform. The interesting thing is that this has been done through 4 operations, all of them for more than 10,000,000 USDT.
On the other hand, two other operations took 70,000,000 USDT from Tether’s treasury to unknown wallets, which indicates that there is also some accumulation interest. However, this has to be contrasted with the number of transactions that took place from unknown wallets to exchanges in order to truly determine today’s trend.
In that sense, we have recorded five trades that introduced USDT liquidity into the market, especially in Binance and Bitfinex. Two of these five ended up in Binance, and the rest in Bitfinex. Thus, the total introduced was 244,505,659 USDT. With this, it’s clear that the whales that are active today don’t intend to accumulate this cryptomone currency, but quite the opposite.
Therefore, the total mobilized only today is 324,505,659 USDT, up to the moment of publication.
Then, in the case of Ether (ETH), only two transactions have been registered and both were made between unknown wallets. The total of both was 238,833 ETH (US$ 92,675,514 approximately).
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What’s wrong with Bitcoin?
Today, August 27th, only five transactions have been recorded with Bitcoin, four of which were from unknown wallets to exchanges like OKEx and Binance. These four totaled 6,109 BTC, which would mean that the whales are now looking to take advantage of the Bitcoin price to make a profit.
However, although the clear trend right now is to sell, or introduce liquidity into the market, the amounts are not large enough to turn the trend of Bitcoin in one direction or another.
Finally, the other transaction made by the whales with Bitcoin pulled 1,000 BTCs from OKEx and led them to an unknown wallet. We’ll have to wait until the end of the day to see if the whales change their course.
However, this seems unlikely, since the value of Bitcoin Era at the moment is $11,198.22. This translates into a decrease of more than 2% compared to yesterday.
In the last few days we’ve noticed a significant correction in the price of BTC, which briefly reached US$ 12,000. Therefore, there are whales that perhaps seek to hold out and sell some of their BTCs before it continues to decline.