Warren Buffet usually go into assets and asset classes he find undervalued, and he recently bought Bitcoin. Meanwhile, many big crypto whales are selling ETH in the last week. Here is some
A whale in the crypto-verse refers to an exchange, institution, or individual who currently holds a large number of tokens related to a given cryptocurrency. For example, in the case of Bitcoin, a BTC whale is any entity that has more than 1,000 Bitcoins in its possession.
For this reason, Cryptolists has established that whales can significantly impact the crypto industry, especially whenever they make a move. An excellent example are these two scenarios below:
I. When a whale decides to hodl and refuses to sell their coins, they reduce the number of coins available in the market. It results in an upward pressure that causes the prices to begin rising.
II. If the whale decides to exit/sell their crypto, such a move leads to volatility in the market. In general, the prices begin to reduce as the number of available coins increases.
The team at Crypto Lists recently analyzed the crypto market and prepared the following list of those that bought more crypto and those that made exits in the past three days.
Whales That Bought More Crypto
Both Warren Buffet and Light are adding in crypto related assets, especially linked to Bitcoin.
Warren Buffet Dumps Visa and MasterCard and Invest $1B in..
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Warren Buffet, popularly known as the ‘Oracle of Omaha,’ dumped a large chunk of his Visa and MasterCard holdings in favor of Bitcoin. In a securities filing made on February 14th, Warren disclosed that he had acquired $1 Billion worth of stock in Nubank.
Nubank is Brazil’s largest FinTech handling Bitcoin investments in South America.
Light’ Buys $4,665,309 worth of BTCB
“Light” is a top SHIB investor who has recently gained an appetite for Bitcoin. According to WhaleStats, a Twitter handle that tracks crypto buys and sells, the investor recently acquired BTCB—Bitcoin BEP2 worth a whopping $4,665,309.
In a series of tweets, the handle also mentioned that this investor holds Shiba Inu coins totaling $23,223,612. According to the feed, these holding accounts for about 5.18% of his entire crypto portfolio.
Still, on “Light,” the investor on the same day also grabbed 341 ETH worth around $1,071,526. WhaleStats has ranked him at number 778 on its list of investors with large crypto holdings.
Whales That Sold
0x96ec13657d2a31b955fd75f5b5de70cbf5954db7 Moves $38M Worth of ETH
An ethereum holder associated with the above address on February 14th moved ETH holdings amounting to $38,494,202 off Gemini.
The sale matters as moving it from the exchange mean that the account holder intends to hold on to this investment for a bit longer.
It could also be their way of protecting their investment from theft.
bc1q7xa6hs9v83876qt6vwk8ycpzqs2yayv3utvctz Moves 156M Worth of BTC
An anonymous crypto wallet with more than $156,500,503 of Bitcoin on February 17th transferred their crypto holdings to Gemini.
While the transaction was recorded as anonymous, it was traced to a wallet tied to bc1q7xa6hs9v83876qt6vwk8ycpzqs2yayv3utvctz.
The particular transaction matters as the account holder can single-handedly impact market prices if they decide to exit their current position.
0xf9225f3288f6cb0d0f80a5561e73102565e8bd8c Moves $76M Worth of ETH
As seen on this cryptolists list of whales that sold, most investors appear to be exiting their ETH positions.
It could be that they want to look into other altcoins or are looking to safeguard their holdings.
An investor linked to this address 0xf9225f3288f6cb0d0f80a5561e73102565e8bd8c moved ETH totaling $76,869,984 to this address 0xdbfc4549b325b6f00013a3861b87aab6696fdbee on February 14th.
If the recipient decides to exit the position, they could cause enough push to force ETH prices to start reducing.
It typically takes between $15 to $30 million of selling pressure to force a price reduction on an exchange. It’s why such a position can likely cause untold panic on the markets.
0x712d0f306956a6a4b4f9319ad9b9de48c5345996 Moves $54M Worth of ETH
In yet another sale affecting ETH, the crypto investor linked to this address anonymously moved $54,209,280 worth of ETH to 0x11d625109d9257c24d8a3ab8128c4a95a2cf5c31.
The recipient and the sender are both unknown, making it difficult to identify them with anything more but the address linked to the transaction.
0x4c35626f430145746c73fed9dc3a600e61db974b Moves $59M Worth of ETH
Last but not least, on these crypto lists of whales that sold is yet another anonymous ETH transaction totaling $59,028,094.
The transaction which was recorded on February 16th involved two anonymous addresses with the sending address being 0x4c35626f430145746c73fed9dc3a600e61db974b and the receiving address being 0x69c488bcda156379b6661f08a35db627e5d467dd.
Many of the sales or exits recorded since February 14th have affected ETH. It appears that some of these investors are either looking to protect their holdings or preparing to invest in other coins.
Trending Crypto News
According to WhaleStats, most large crypto investors prefer ERC-20 and ETH tokens instead of BSC. Today, SHIB is regarded as the largest token in terms of USD value.
It’s a token held by more than 1,000 major Ethereum investors. It’s estimated that these investors now hold more than 54,640,355,419,904 SHIB worth $1,596,262,985.
These holdings account for about 16.65% of their crypto holdings.