The cryptocurrency market has experienced its biggest crash in recent days, with the Ethereum (ETH) price falling nearly 6% in the last 24 hours. However, this decline seems to have served as an opportunity for whale investors who used the situation to accumulate more ETH.
A notable giant whale known as ‘Whale 0xb15’ deposited a staggering amount of 55.00 million USDT onto Binance. This whale has a history of depositing large amounts of stablecoins onto Binance before launching ETH trading rounds.
Interestingly, the whale earned $16.25 million from 7 of the 8 ETH trades he completed, achieving a win rate of 87.5%.
As another important development, DWF Labs withdrew 280 ETH from Bitfinex, corresponding to 626 thousand dollars. It was noted that this was the market maker’s largest ETH accumulation in the last two months.
On the other hand, a whale adopted a different strategy during the decline period. Hong Kong cryptocurrency exchange Hashkey allegedly deposited 3,500 ETH ($7.87 million) to Binance when the price dropped to $2,247.
Interestingly, HashKey’s alleged address had withdrawn 26,114 ETH ($60 million) from Binance over the past six days at an average price of $2,297. This could be a stop-loss sell triggered by the 5% drop in ETH price in the last 24 hours.
Despite the recent market crash, HashKey allegedly still holds 22,683 ETH ($51.00 million) across five addresses. The company’s loss so far from ETH trading is $1.37 million.
*This is not investment advice.
