On-chain analysis reveals a surge in activity from cryptocurrency whales, who have made significant transactions across various altcoins. One notable example includes a whale buying $2 million worth of Fartcoin (FARTCOIN), following an earlier full sale. This purchase resulted in a profitable trade with the whale generating $368,500 profit.
Another interesting transaction involved Nasdaq-listed company Metalpha. The firm withdrew a substantial sum of 18,000 Ethereum worth $48.05 million from Binance. It then used these ETH for various activities including borrowing USDS and DAI stablecoins before ultimately depositing the funds back into Binance.
Further observation shows a crypto whale utilizing his $11.8 million worth of Solana (SOL) to secure a loan of $4 million on Kamino, followed by bridging USDC tokens and depositing them to Hyperliquid exchange. This action allowed the whale to purchase and stake 126,353 HYPE tokens at an average price of $39.1.
*This is not investment advice.*