Major Cryptocurrency Transfer Yields $9 Million for XRP Whale, Detailed Events Explained
Loosen Up and Dive into the Crypto Sphere 🌪️⚡️
Hey there, crypto enthusiasts! Today, we're going to chat about some juicy happenings in the world of digital assets, so buckle up and grab a cold one. 🍻📈
First off, let's delve into the profits reaped by a mysterious crypto whale. This elusive trader has been hodling (long-term holding) on various top coins such as BTC, ETH, and XRP for the past month. The anonymous whale owns 1,500,000 XRP worth around $3.3 million, 70.8197 BTC valued at nearly $6.8 million, 5,000 ETH, 50,000 SOL, and more.
By doing some sleuthing, Lookonchain, a popular analytics account on the X social media network, shared that this secret trader also bagged an unrealized profit of over $5 million from a recent purchase of 309 Bitcoins, averaging $79,792 per coin! 💰💸
Next, we've got some exciting movement in the Bitcoin ETF world. Data from the same source reveals that on Friday, May 2, 10 spot Bitcoin ETFs received net inflows amounting to approximately $311.43 million, or roughly 3,215 Bitcoins. The largest inflows went to the BlackRock ETF, amassing $352.17 million and 3,636 Bitcoins. BlackRock now owns a whopping 607,685 BTC, worth a staggering $58.86 billion! 💼🚀
Bitwise and Fidelity are right behind BlackRock, with 198,640 and 38,688 Bitcoins, respectively. The weekly inflows for these three giants amounted to 15,035 BTC, worth an impressive $1.46 billion. Ark 21Shares, Grayscale, and Franklin ETF experienced outflows, with Ark 21Shares losing 903 BTC and Grayscale shedding 347 BTC. Despite this, the overall inflows for the crypto ETF sector remain strong! 📈💰
Now, let's touch on the performance of our favorite altcoins during this period. High flyers like LAYER (+15%) and VIRTUAL (+14%) soared, indicating that whales might have been chasing the pump in these assets. THETA, KAIA, BCH, and FLR saw gains of around 6%, while DEEP experienced a pullback of -17%, and TRUMP saw a -10% correction.
Overall, a (long-term) strategy that includes hodling BTC and ETH is likely to bring solid returns, while XRP and select alts could offer some exciting upside for those aiming to time entries strategically. However, keep in mind that the crypto market is super volatile, so keep a close eye on your positions! 📈💥
Stay tuned for more cryptocurrency updates right here at U.Today! 🤙😎
Note: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
- With the potential for significant profits, crypto trading has become a hot topic, attracting even the largest players in the market known as whales.
- These whales are not just Hoarding Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), but also other cryptocurrencies such as Solana (SOL).
- A recent analysis by Lookonchain revealed that one of these whales made an unrealized profit of over $5 million from buying 309 Bitcoins at an average price of $79,792 each.
- In the world of crypto exchange-traded funds (ETFs), BlackRock leads the pack, owning a massive 607,685 Bitcoins, worth over $58.86 billion.
- The Bitcoin ETF sector in general continues to see strong inflows, with close to 15,000 Bitcoins ($1.46 billion) being added by the top three ETF providers in a single week.
- While Bitcoin (BTC) and Ethereum (ETH) might offer long-term stability, altcoins like LAYER, VIRTUAL, and select others could potentially provide exciting returns for those who strategically time their entries. However, due to the volatile nature of the crypto market, it's essential to keep a close watch on trading positions and, when in doubt, seek the advice of financial experts.
