{"id":22476,"date":"2024-06-10T23:00:22","date_gmt":"2024-06-10T20:00:22","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22476"},"modified":"2024-06-10T17:22:37","modified_gmt":"2024-06-10T14:22:37","slug":"bitcoins-decline-activates-altcoin-whales","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoins-decline-activates-altcoin-whales\/","title":{"rendered":"Bitcoin\u2019s Decline Activates Altcoin Whales"},"content":{"rendered":"<p>The recent volatility in Bitcoin has stirred <strong>altcoin<\/strong> whales into action. Some whales took advantage of the dip to buy, while others capitalized on the rise to sell.<\/p>\n<p>As Bitcoin surged past $71,000 last week, <strong>altcoins<\/strong> also saw gains. However, when Bitcoin dropped to $69,000, <strong>altcoins<\/strong> experienced sharp declines.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bitcoins-decline-activates-altcoin-whales\/#New_Wallets_Purchase_UNI_BLZ_PEPE_and_TRB\" title=\"New Wallets Purchase UNI, BLZ, PEPE, and TRB\">New Wallets Purchase UNI, BLZ, PEPE, and TRB<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bitcoins-decline-activates-altcoin-whales\/#Dormant_Whale_Sells_MKR_and_AAVE_for_Profit\" title=\"Dormant Whale Sells MKR and AAVE for Profit\">Dormant Whale Sells MKR and AAVE for Profit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/bitcoins-decline-activates-altcoin-whales\/#Unfortunate_Whale_Sells_ENA_at_a_Loss\" title=\"Unfortunate Whale Sells ENA at a Loss\">Unfortunate Whale Sells ENA at a Loss<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"New_Wallets_Purchase_UNI_BLZ_PEPE_and_TRB\"><\/span><strong>New Wallets Purchase UNI, BLZ, PEPE, and TRB<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>According to <a href=\"https:\/\/coinengineer.net\/blog\/gmx-whales-in-action-millions-of-dollars-worth-of-gmx-purchased\/\">Lookonchain<\/a>, five newly created whale wallets recently bought UNI, BLZ, PEPE, and TRB from Binance and OKX.<\/p>\n<p>&#8220;New whale wallets are buying UNI, BLZ, PEPE, and TRB.<\/p>\n<p>Wallet 0x3492 withdrew 870,827 UNI ($8.5 million) from OKX an hour ago.<\/p>\n<p>Wallet 0xe841 withdrew 7.69 million BLZ ($2.16 million) from Binance an hour ago.<\/p>\n<p>Wallets 0x81cC and 0xf226 withdrew 303.4 billion PEPE ($3.8 million) from Binance and OKX 11 hours ago.<\/p>\n<p>Wallet 0x8499 withdrew 20,628 TRB ($1.9 million) from Binance 25 hours ago.&#8221;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Dormant_Whale_Sells_MKR_and_AAVE_for_Profit\"><\/span><strong>Dormant Whale Sells MKR and AAVE for Profit<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Spot On Chain reports that a dormant <strong>altcoin<\/strong> whale transferred 3,800 MKR (worth $9.3 million) and 20,000 AAVE (worth $4.45 million) to Binance for profit after holding for a year.<\/p>\n<p>&#8220;A dormant whale, after holding for a year, transferred 3,800 MKR ($9.3 million) and 20,000 AAVE ($4.45 million) to Binance for profit!<\/p>\n<p>If sold now, the profit would be $6.86 million (+281%) for MKR and $645,000 (+17%) for AAVE.&#8221;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Unfortunate_Whale_Sells_ENA_at_a_Loss\"><\/span><strong>Unfortunate Whale Sells ENA at a Loss<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>An unfortunate whale, thinking they were buying the dip, failed to sell their Ethena (ENA) during the rise and ended up selling at a loss following recent declines.<\/p>\n<p>&#8220;This whale typically bought various <strong>altcoins<\/strong> before pumps but was not successful with timing.<\/p>\n<p>Six days ago, just before the price rose above $1, this whale spent $1.6 million USDC to buy 1.62 million ENA.<\/p>\n<p>With the price now down 23% (7D), the whale sold all ENA for only $1.32 million USDC.<\/p>\n<p>This results in a loss of $283,000 (-17.6%) in less than a week.<\/p>\n<p>Overall, this whale often bought tokens before pumps but failed to choose ideal exits.&#8221;<\/p>\n<div id=\"gtx-trans\" style=\"position: absolute; left: 254px; top: 685.297px;\">\n<div class=\"gtx-trans-icon\"><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The recent volatility in Bitcoin has stirred altcoin whales into action. Some whales took advantage of the dip to buy, while others capitalized on the rise to sell. As Bitcoin surged past $71,000 last week, altcoins also saw gains. However, when Bitcoin dropped to $69,000, altcoins experienced sharp declines. New Wallets Purchase UNI, BLZ, PEPE,<\/p>\n","protected":false},"author":1,"featured_media":8839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[1195,466,1995,2013],"class_list":["post-22476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-blz","tag-pepe","tag-trb","tag-uni"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin\u2019s Decline Activates Altcoin Whales - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoins-decline-activates-altcoin-whales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin\u2019s Decline Activates Altcoin Whales - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The recent volatility in Bitcoin has stirred altcoin whales into action. Some whales took advantage of the dip to buy, while others capitalized on the rise to sell. As Bitcoin surged past $71,000 last week, altcoins also saw gains. However, when Bitcoin dropped to $69,000, altcoins experienced sharp declines. 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