{"id":31141,"date":"2024-04-13T19:55:58","date_gmt":"2024-04-13T19:55:58","guid":{"rendered":"https:\/\/icoinmarket.com\/these-crypto-whales-predicted-market-dip-sold-over-100-million\/"},"modified":"2024-04-13T19:55:58","modified_gmt":"2024-04-13T19:55:58","slug":"these-crypto-whales-predicted-market-dip-sold-over-100-million","status":"publish","type":"post","link":"https:\/\/icoinmarket.com\/these-crypto-whales-predicted-market-dip-sold-over-100-million\/","title":{"rendered":"These Crypto Whales Predicted Market Dip, Sold Over $100 Million"},"content":{"rendered":"
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In the last 24 hours, Ethereum, Bitcoin, and altcoins encountered significant volatility, resulting in a notable decline, with the overall crypto market capitalization dropping by approximately 8%, settling at $2.53 trillion.<\/p>\n
This swift market fluctuation may have taken many retail traders by surprise. However, insights from on-chain data reveal that certain large-scale investors, colloquially known as crypto whales, foresaw the downturn and offloaded a substantial portion of their holdings.<\/p>\n
On-chain analysts reported that several institutional investors strategically sold portions of their holdings during the market downturn. Four crypto whales collectively offloaded 31,683 ETH, valued at approximately $106 million.<\/p>\n
Among the identified crypto whales were notable entities such as Cumberland, an address linked to the bankrupt Alameda\/FTX estate, and two undisclosed altcoin wallets. <\/p>\n
Cumberland, a prominent institutional crypto investment firm, deposited 17,206 ETH, amounting to $57.3 million, across various exchanges. On the other hand, two crypto whales, \u20180xC3f8\u2019 and \u20180x1717\u2019, moved 7,976 ETH worth $26.6 million and 4,000 ETH worth $13.32 million, respectively, to Binance and other exchanges. <\/p>\n
Similarly, the FTX\/Alameda estate transferred 2,500 ETH, valued at around $8.33 million. Interestingly, this is not the first time the failed exchange has effectively been able to time the market before drastic sell-offs.<\/p>\n
\n\u201cSince March 1, FTX and Alameda have deposited 15,850 ETH, worth $58 million into centralized exchanges at roughly $3,659, and dramatic price changes tended to follow afterward,\u201d blockchain firm SpotOnChain said.<\/p>\n<\/blockquote>\n