It has been observed that large whales have been moving intensively in the cryptocurrency market in recent hours.
On-chain data reveals both large transfers from long-dormant wallets and large transactions between exchanges.
A newly created wallet withdrew 10,009 ETH (approximately $41 million) from Binance. Similarly, another new wallet moved 5.01 million ASTER tokens ($7.65 million) from Binance to its cold storage.
Meanwhile, it was discovered that 11,885 BTC (approximately $1.34 billion) worth of assets belonging to the LuBianCom mining company, which had been dormant for three years, were moved to new wallets. Following this development, the US Department of Justice (DOJ) reportedly continues to track the 127,271 BTC linked to the LuBian hack through a network known as the Prince Group, which is associated with cybercrime and forced labor operations.
Short-term trading activity is also notable. Three days ago, a whale withdrew 5,255 ETH ($22 million) from Crypto.com and sold it on the HyperLiquid exchange, opening a BTC short position with 5x leverage. Today, the same address deposited $10 million in USDC, increasing its position to $140 million.
Additionally, another newly created wallet withdrew $10 million in USDC from Coinbase, deposited $9 million of it into HyperLiquid, opened a 3x leveraged ETH long position, and purchased XPL with a $3 million TWAP order.
Finally, a whale that had been inactive for 3 years realized its profit by investing its assets in Kraken:
- •2,538 ETH ($10.41 million) – approximately $11.13 million in profits from previous sales
- •3,142 LINK ($59,972) – approximately $56,000 profit
*This is not investment advice.