Crypto whales start September with strength
Since the beginning of September, Whale Alert has been full of reports and notifications of the constant activity of crypto whales. However, this time we bring you a summary of the highlights of their activity with Ether (ETH), Bitcoin (BTC) and yearn.finance (YFI).
YFI triples Bitcoin in value
Crypto whales accumulate ETH in September
A lot has happened in the last few weeks with respect to the Ethereum. With the rise of decentralized finance (DeFi) some whales have become a little more interested in the Ethereum ecosystem, and so since the beginning of September a marked accumulation of ETH has been noticed.
Exactly, since September 1st, they have carried out nineteen operations for a total of 1,074,958 ETH, of which 51.02% were taken from exchanges to unknown wallets. The accumulated total was 548,349 ETH, while other whales introduced 276,610 ETH in different exchanges for sale taking advantage of the slight price increase of this cryptomone currency.
Finally, in the case of Ether, 249,999 ETH were also moved between unknown wallets.
Interest in YFI is growing considerably
In that sense, it is also worth highlighting what happened with YFI. This crypt currency has had an impressive growth, even exceeding the value of Bitcoin. Since then, crypto whales have accumulated a total of 1,058 YFI.
At the time of writing this publication, this crypt currency has a value of US$ 23,703.31 according to CoinMarketCap. This is 6.24% more than yesterday, but it still doesn’t reach the US$ 34,916 of last August 31.
However, the predominant trend was to take the tokens from unknown wallets to exchanges probably to sell them. Thus, crypto whales carried 54.87% of the total YFI mobilized to different exchanges.
At the time of publication, 3,490 YFI have been mobilized through 26 operations since the beginning of September. This is equal to US$ 82,724,551.9.
Therefore, we can affirm that the whales increased their interest in taking advantage of the profits from the sale of this cryptomone while it reached its maximum price so far. Other whales that bet on its growth are those that accumulated the 1,058 YFI reflected in the summary table.
What do whales do with Ripple and Bitcoin?
More than 80,000 BTC since the beginning of September
In this first week of September, Bitcoin whales performed 47 operations with BTC. These total 80,889 BTC. The predominant trend was to take the tokens from unknown wallets to exchanges, specifically 45,055 BTC, or 55.7% of the total.
Meanwhile, the accumulated total was 27,274 BTC. This means that at the moment whales are looking to secure the benefits generated by the crypto currency trade while BTC still faces a price correction, but that there are still whales appealing for the long term and therefore they continue to accumulate. Likewise, a total of 8,560 BTCs were mobilized between exchanges as shown in our summary table.
Since September 3rd, Bitcoin Code has been declining considerably in terms of price. At the time of writing this publication changes hands for a price of US$ 10,241.39 according to CoinDesk. This represents an increase of 1.33% from yesterday, but still doesn’t match the prices of the beginning of the week.
Therefore, it is understandable that in the midst of all this many whales considered taking advantage of the moments when it was still close to US$ 12,000 before it continued to lose strength. But in doing so, they increased the available liquidity and thereby supported the reduction of the price of cryptomoney.
In this same sense, it is not surprising that others who bet on the medium and long term were precisely those who accumulated the 27,274 BTC described above.
Whatever the case, the truth is that the whales mobilized the equivalent of US$ 828,415,795.71 in only six days.