crypto whales
Analysis

Weekly summary of crypto whales activity

With less than seven days to end the month of February, we bring you a weekly summary of the activity of crypto whales on the market.

Beginning from February 16, crypto whales mobilized 6410 BTC, of ​​which 5810 BTC ended up in exchanges. At this time the accumulation of Bitcoin was not the strongest trend. Instead, crypto whales concentrated on selling their cryptocurrencies for profit and thereby injected liquidity and increased the supply available in the market. 

Then, on February 17 we can say that the trend with respect to Bitcoin was inverse to that of the previous day. The five Bitcoin transactions recorded by Whale Alert this day were directed from exchanges to unknown wallets, totaling 5453 BTC. The largest was for 1500 BTC from Binance .

The other cryptocurrencies mobilized by crypto whales this day include ETH, XRP and XTZ. As for the trend with them, it could be said that the aim of the whales was their accumulation. For example, 2,193,871 XTZ ended up in unknown wallets after being taken out of Binance. Also, an equivalent of USD 14,805,363 in ETH was sent from Bithumb to an unknown wallet.

February 18: The day Bitcoin was the favorite of whales

During this day approximately 3,214,443 XTZ were mobilized through five movements, most of them were made from Binance to unknown wallets. 

On the other hand, the most mobilized cryptocurrency on this day was Bitcoin. Crypto whales moved a total of 25015 BTC throughout this day, through 25 operations, and 15 of them were from exchanges to unknown wallets. The platforms used were Coinbase, Binance, Bitfinex and OKEx mainly. 

Other cryptocurrencies used were LINK, USDT and BUSD. For example, more than one million dollars in LINK was transferred from Bithumb to an unknown wallet. 

February 19: Whales sell Bitcoin

This day, crypto whales mobilized a total of 7294 BTC, through eight operations. Most of them, seven of eight, went from unknown wallets to exchanges such as OKEx, Binance, Huobi and Korbit. With this, we can say that the tendency to accumulate was not present. On the contrary, these whales decided to exchange their assets for money to take advantage of the Bitcoin bullish peak, at a time where it was above $10,000.

The second most mobilized cryptocurrency this day was USDT. We know that 5 million of this cryptocurrency was taken from Tether’s treasure to an unknown wallet, and then USD14,999,990 was mobilized in two different transfers from unknown wallets to OKEx. 

February 20: Crypto whales opt for USDT

This day, unlike previous ones, Bitcoin was not the only currency preferred by crypto whales. For example, we have 1,391,531 XTZ mobilized through four operations. However, there was no marked trend because 50% of them were directed from unknown wallets to exchanges, and the rest in the opposite direction.

Additionally, a great interest in the sale of USDT was observed. Whale Alert reported movements for more than 5million USDT throughout the day. Most of them were for sale or exchange for fiat money. Without a doubt, this day was the busiest for this cryptocurrency.

On the other hand, we also witnessed the mobilization of 10,100 BTC throughout the day and through 13 operations. Of this total, six of those operations were made from exchanges to unknown wallets and the rest in the opposite direction. By this time Bitcoin had already fallen below its resistance level, that is, below $10,000.

Ending the week, February 21 and 22

On February 21, when Bitcoin was around $9600, crypto whales mobilized 5545 BTC over eight transactions. Of this amount, approximately 2944 BTC moved from exchanges like Coinbase and OKEx to unknown wallets. The remainder was reversed. This demonstrates that for this day the trend was not entirely defined.

Also, other cryptocurrencies such as XTZ accumulated. In two different movements, we could observe the transfer of a total of 466239 XTZ from Binance to unknown wallets. Unlike previous days, USDT did not have much prominence on this day.

Finally, from February 22 we can highlight a transfer for 2500 BTC from an unknown wallet to Bitstamp. This is equivalent to $24million  at the time it was made.

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