In a significant move today, a whale or institution made notable purchases of AAVE and UNI. This entity deposited 4 million USDC to Kraken and subsequently withdrew 35,983 AAVE (valued at $3 million) and 123,183 UNI (valued at $1 million).
Currently, the whale holds a substantial amount of both tokens: 142,296 AAVE ($12.1 million) and 1.43 million UNI ($11.6 million).
A whale/institution bought $AAVE and $UNI again today.
He deposited 4M $USDC to #Kraken, then withdrew 35,983 $AAVE($3M) and 123,183 $UNI($1M) from #Kraken.
He currently holds 142,296 $AAVE($12.1M) and 1.43M $UNI($11.6M).https://t.co/I5GL4GXr1L pic.twitter.com/7Qj0h3lP0F
— Lookonchain (@lookonchain) July 10, 2024
According to icrypto data, Wofhaley.eth, a prominent trader, has also made strategic shifts in his holdings.
He recently moved part of his portfolio from LINK to AAVE and SNX. Earlier today, Wofhaley.eth purchased 33.41K LINK (~$428.6K), making LINK the most accumulated token among smart money in the past 24 hours.
However, just 20 minutes ago, he swapped a portion of his LINK holdings for $44.3K worth of SNX and $65.36K worth of AAVE. His return on investment (ROI) with LINK from these transactions is +3%.
Wofhaley.eth just shifted part of his holdings from $LINK to $AAVE and $SNX🤔
His address here: https://t.co/hB1A6oMkKv
He is the one who bought 33.41K $LINK ~ $428.6K 6 hours ago, making $LINK the top 1 accumulated token of smart money in the past 24 hours.
However, 20… pic.twitter.com/RHHgRVaiWV
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) July 10, 2024
Other Technical Outlook To Monitor For Chainlink LINK
Santimentfeed data suggests that Chainlink’s weak hands are beginning to capitulate, releasing significant amounts of LINK. The $60 million in LINK realized losses yesterday points to substantial trader fear, uncertainty, and doubt (FUD), which could indicate a local bottom for the token.
🔗 Chainlink's weak hands have just shown signs of giving up hope and released significant levels of coins. The 60M in LINK realized losses yesterday is indicative of significant trader FUD, and increases the likelihood of a local bottom. 👍 pic.twitter.com/EeC4LFSoQz
— Santiment (@santimentfeed) July 9, 2024
These moves highlight a strategic reallocation of assets among savvy investors, focusing on AAVE, UNI, and SNX while reducing exposure to LINK. The whale’s substantial holdings and Wofhaley.eth’s recent trades reflect a calculated approach to capitalize on current market conditions and potential growth opportunities.
The activity surrounding AAVE and UNI, coupled with the shifting sentiment in LINK, underscores the dynamic nature of the crypto market. Investors are keenly observing these developments, as they could signal emerging trends and potential investment opportunities in the near future.
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: alfazetchronicles/123RF // Image Effects by Colorcinch
