Large investors, or whales, are accelerating their actions as the cryptocurrency market plummets. On-chain data revealed millions of dollars in position changes over the past 24 hours.
A notable trade occurred in Solana during a period of intense selling pressure in the market. The big whale with the short address DYzF92 has exited the market after selling 33,366 SOL it purchased seven months ago for approximately $4.71 million. This investor acquired 32,083 SOL for $4.94 million and earned 1,283 SOL ($181,000) from staking during that time. Nevertheless, he closed his position with a total loss of approximately $230,000.
Another whale trade within the Solana ecosystem involved Zcash (ZEC). ZEC whales spent $3.01 million today to purchase 3.22 million GHOSTs. This whale currently holds 944 ZEC ($650,000) and has earned over $334,000 in ZEC trades so far.
On the Ethereum side, large-scale outflows are noticeable. In the past hour, a whale withdrew 2,450 ETH ($7.91 million) from Binance. The same investor had also collected 2,560 ETH ($7.96 million) and withdrew it from the exchange two days earlier.
One of the most notable moves came from an investor known as the “66,000 ETH Debt Whale.” The whale withdrew 199,720 ETH ($632.47 million) from Aave V3, significantly narrowing his position. He then transferred 44,000 ETH ($140.24 million) to Binance. These movements are interpreted as investors starting to close out their long positions in ETH.
*This is not investment advice.
