Whales Have Started Accumulating Large Amounts of This Altcoin – Here Are the On-Chain Data
Recent movements by whales in the cryptocurrency market are attracting attention. On-chain data indicates both large transfers from major exchanges and the reactivation of wallets that had been inactive for a long time.
First, a strong accumulation of ZEC was observed. The wallet with the short address “t1dHhe” withdrew 202,077 ZEC from Binance approximately 16 hours ago, moving assets worth $91.4 million off the exchange. Similarly, another address, “t1Nt2i,” withdrew 4,257 ZEC (approximately $1.93 million) 5 hours ago.
Activity continues on the front of Arthur Hayes, a name closely watched in the market. Hayes has been seen transferring another 680 ETH (approximately $2.03 million) for sale as part of his strategy to shift his portfolio towards “high-quality” DeFi tokens.
On the other hand, a wallet dating back to Ethereum’s early days and inactive for over 10 years has been reactivated. The address, starting with “0xbDb6,” transferred its 2,000 ETH (approximately $5.96 million) to a new wallet. It is estimated that this investor acquired these ETH for only $620 during the early days, achieving a return of 9,616 times the current value.
On the Bitcoin side, a large transaction signaling a “buy the dip” caught attention. Three newly created wallets, believed to belong to the same whale, purchased a total of 2,509 BTC (approximately $221 million) via FalconX in the last 14 hours.
