Crypto News

Market Rebound: Whale Activity And Cosmos ICO Developments

After a slight market rebound, a prominent whale who previously incurred an $8.22 million loss from long-leveraged Ethereum positions is ramping up their investments again.

Just 10 hours ago, this whale withdrew 1,401 ETH, worth approximately $3.39 million, from Binance. They subsequently deposited these funds into Compound and borrowed 2.3 million USDT to reinvest in Binance.

Currently, the whale has pledged a total of 2,794 ETH to borrow 4.53 million USDT, maintaining a health level of 1.23. However, if the price of ETH drops to $1,965, this position risks liquidation.

In a related development, a developer from the Cosmos network, @interchain_io, recently sold 4,000 ETH, valued at about $9.5 million, that was raised during their April 2017 ICO. Over the past five months, they have sold a total of 15,100 ETH, accumulating approximately $37.09 million.

Cosmos Currently Holds 383 BTC And 23,587 ETH After Selling Off Some Position 

Cosmos originally raised around $17 million through its ICO, which included 4,882.7 BTC and 246,891 ETH. Since then, the team has sold 4,499 BTC and 223,305 ETH, totaling around $132.2 million based on the transfer prices.

Presently, they hold 383.8 BTC and 23,587 ETH. Thanks to the significant appreciation in BTC and ETH prices over the past seven years, the value of their unsold tokens now exceeds $80.86 million, far surpassing the original funds raised.

On another note, October 4 marked a total net outflow of $3.1955 million from Ethereum spot ETFs, reflecting the ongoing shifts in market sentiment. With these developments, the landscape remains dynamic as investors navigate the evolving crypto space.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: thediver123/123RF // Image Effects by Colorcinch

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