Crypto Whales Boost ETH Holdings as Major Liquidations Hit BTC Markets
Large-scale whale movements saw $105M in ETH withdrawn to Binance and $30.69M in SOL redeemed, amid $14M losses from liquidations in volatile markets.
BTC
ETH
SOL
Summary
In the past 24 hours, whales borrowed 80 million USDC from Aave to Binance and withdrew 30,549 ETH worth $105 million, raising weekly holdings to 385,706 ETH valued at $1.32 billion. The whale address 'Maji' incurred $14.21 million in losses from ETH and UNI liquidations. Concurrently, FTX/Alameda redeemed 193,800 SOL worth $30.69 million. Additional whale activity included ETH transfers to OKX and Bybit.
Terms & Concepts
- USDC (USD Coin): A stablecoin pegged to the US dollar, used for digital transactions and trading without exposure to price volatility.
- ETH (Ethereum): A leading blockchain platform enabling smart contracts and decentralized applications, with ETH as its native cryptocurrency.
- Liquidation: The forced closure of a leveraged position when margin requirements are no longer met, resulting in partial or total loss of the invested amount.