Giant Ethereum (ETH) Whales Move Over $110,000,000 In Crypto As Market Stalls – Here’s What They’re Doing

A pair of “giant” whales are carrying out large transactions on the Ethereum (ETH) network, chain data explorers report.

According to blockchain tracking firm Lookonchain, two whales each staked 8 digits of ETH and Staked Ethereum (stETH) early Monday.

Lookonchain says the two whales staked their coins through Agility, a liquid stake derivative (LSD) and trading platform.

“We noticed 2 giant whales staked 29,073 stETH ($60.7 million) and 26,550 ETH ($55.4 million) via
Agility LSD.”

Whale ‘0x3f34 bet 18,694 stETH($39M) and 11,550 ETH($24M).

CZSamSun staked 10,379 stETH ($21.7 million) and 15,000 ETH ($31.4 million).”

One of the wallets, branded as CZSamsun, has over $193 million in assets, according to Web3 portfolio tracker Debank. The other wallet has $93 million, according to Debank.

Lookonchain also recently tracked wallets sending money to crypto exchange Binance to acquire Ethereum scaling solution Loopring (LRC) and Fantom (FTM), one of ETH’s biggest rivals.

According to the firm, a whale sent Tether (USDT) to Binance and picked up nearly $1 million in FTM and over $3 million in LRC to add to their large stacks.

“A whale transferred USDT to Binance to buy FTM and LRC.

The whale received 7.56 million LRC ($3.1 million) and 1.84 million FTM ($981,000) ~1 hour ago.

Currently holding $9.75M FTM ($5.2M) and $9.3M LRC ($3.8M).

The purchase cost of mFTM is ~$0.4040 and the purchase cost of LRC is ~$0.4157.”

At the time of writing, Ethereum is trading at $2.079, while FTM is trading at $0.523 and LRC is trading at $0.40.

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Featured image: Shutterstock/Vanessa SG/Natalia Siiatovskaia