As per a detailed report by on-chain analytics provider Spotonchain, an anonymous Ethereum whale has made their first-ever acquisitions of two altcoins over the past 8 hours – snapping up over $1.15 million worth of ONDO tokens and $330,000 in AXL amidst substantial short-term price rises.
The whale, identified only by their wallet address 0xd6a75b427b73a7afa65cade2445185b44fb7be98, spent a staggering 1.60 million USDT in combination with 40 ETH (valued at roughly $172,000 at current prices), bringing their total outlay to approximately $1.72 million for this series of transactions.
What you'll learn 👉
First-Time Picks: ONDO and AXL in Focus
Significantly, this represents the first occasion that the Whale has purchased either ONDO or AXL tokens for their portfolio, potentially signaling meaningful long-term conviction in the two cryptocurrencies.
In detail, the whale obtained over 2.59 million ONDO tokens at an average price of $0.444 each, along with 223,350 AXL at $1.477 per token on average. Additionally, they snapped up 503,043 RBN coins at around $0.477 a piece – adding to the nearly 584,000 RBN they acquired only 3 days prior by swapping 100 ETH at the time.
Hence, when combined with their previous purchase earlier in the week, the whale now holds more than 1.08 million RBN overall, worth approximately $518,000 at today’s prices. At the time of the report, ONDO and AXL prices ballooned by 21.1% and 17.3% respectively, contrastingly RBN declined nearly 3% over the same timeframe.
Current Price Action
According to the latest pricing data from CoinMarketCap, ONDO currently trades at $0.444834, up over 40% in the last 24 hours alone, while AXL sits at $1.53 after a more than 19% single-day rally. RBN changed hands at $0.492145 as of this writing, down by over 5% thus far today.
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Show more +While the motivations behind this series of large, first-time purchases remain unclear, the break from typical trading patterns for Whale 0xd6a has certainly caught the attention of many cryptocurrency analysts.
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