According to data from Arkham, a prominent crypto whale identified as 6VaxPg…CEJsMvK made a significant move today, transferring all 308.166 billion BONK tokens to Coinbase at 15:49 UTC+8.
The transferred BONK is valued at approximately $14.43 million. This whale first acquired BONK on December 18, 2023, and steadily increased its holdings from late last year until April 2024.
According to Arkham, the whale: 6VaxPg…CEJsMvK transferred all of its 308.166b BONK to Coinbase at 15:49 UTC+8 today, worth about $14.43 million. The whale first held BONK on December 18, 2023, and gradually increased its holdings of these BONKs from December last year to April…
— Wu Blockchain (@WuBlockchain) November 25, 2024
In a related transaction, another address, 8BD1q…RABXv, withdrew $2.05 million worth of $WIF and $558,000 worth of $BONK from Binance roughly seven hours ago. These movements have raised speculation about the whales’ strategies amid the current market downturn.
七小时前，地址 8BD1q…RABXv 从 #Binance 提出价值 205 万美金的 $WIF 和 55.8 万美金的 $BONK
帽子狗和 BONK 在过去七天内分别下跌了近 12% 和 7.5%📉看来这位巨鲸是打算逢低建个仓，赌后续的反弹了
钱包地址 https://t.co/qH9oB0qfdB pic.twitter.com/9lEvo7N53x
— Ai 姨 (@ai_9684xtpa) November 25, 2024
Both Hatdog and BONK have experienced significant price drops over the past week, falling by nearly 12% and 7.5%, respectively. The recent downturn in these tokens suggests a potential buying opportunity for larger investors aiming to capitalize on a rebound. Observers speculate that the whale’s decision to move BONK to Coinbase could indicate plans to liquidate or reposition for strategic gains.
The crypto market’s volatility continues to provide opportunities for whales and experienced traders to make calculated moves during periods of price fluctuation. With BONK and other tokens currently at lower valuations, many are watching closely to see if the whale’s actions signal confidence in a broader market recovery or a short-term exit. This transfer highlights the ongoing influence of high-stakes players in shaping market and price movements.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any stocks.
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