In a recent analysis by Spot On Chain, a prominent figure in the crypto community known for their insightful whale tracking, a new whale has been identified.
This individual, operating under the Ethereum address 0x6950b033a816d04894da0929db9f96a82fad2808, has been making some big moves in the crypto ocean.
The whale, referred to as “0x695” for brevity, has been observed accumulating a significant amount of various cryptocurrencies from Binance, one of the world’s leading cryptocurrency exchanges. The accumulation occurred over the past 35 hours, with the total cost of the acquired assets amounting to an impressive $12.9 million.
The Breakdown
The whale’s shopping list is diverse, including a variety of cryptocurrencies. The most notable acquisition is 4.6 million ARB tokens, purchased at an average price of $1.268, totaling approximately $5.8 million. This purchase was made just an hour prior to the analysis, indicating a potential bullish sentiment towards ARB.
In addition to ARB, the whale has also withdrawn:
- 9 million more ARB tokens
- 250 billion PEPE coins
- 3 million GRT tokens
- 450,000 MATIC tokens
- 40 billion SHIB tokens
The Impact
The activity of 0x695 has not gone unnoticed. The whale appears to be behind several pumps of the ARB token. These actions have the potential to significantly influence the market dynamics of the respective cryptocurrencies, especially ARB.
The emergence of this new whale serves as a reminder of the significant impact that large-scale investors can have on the crypto market. It also underscores the importance of whale tracking as a tool for understanding market trends and dynamics.
As always, Spot On Chain continues to provide valuable insights into the movements of crypto whales, shedding light on the often opaque world of large-scale crypto investments.
