A major Hong Kong crypto company, Metalpha, just moved a huge chunk of Ethereum to Binance, the world’s biggest crypto exchange.
Metalpha’s Big Transfer
According to crypto tracker Lookonchain, Metalpha deposited a whopping $77.55 million worth of Ethereum (ETH) into Binance over the past few days. This includes a single transfer of 10,000 ETH, worth $23.45 million, just on Monday. Even after this move, Metalpha still holds a hefty $120 million worth of ETH.
Smart Whales on the Move
It’s not just Metalpha making big moves. Lookonchain also spotted a “smart whale” snapping up 5,000 ETH for $11.46 million recently. This whale seems to have a knack for timing, having bought a similar amount of ETH in November 2022 and selling it for a profit of over $4 million a few months later.
Solana Whale Sells Big
Meanwhile, a Solana whale (someone holding a large amount of SOL) sold off 20,000 SOL worth $2.66 million on Monday. This whale has been selling off SOL since the start of the year, with a total of $102 million worth of SOL sold so far. They still hold a significant amount of SOL, though, with 1.84 million SOL worth $246 million staked.
Ethereum and Solana on the Rise
Both Ethereum and Solana are doing well right now. Ethereum is up 1.5% in the past 24 hours, while Solana has gained over 0.5%.
Disclaimer: This information is for general knowledge and should not be considered investment advice. Always do your own research before making any investment decisions.
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