Cryptocurrency market’s recent movements have drawn significant attention due to major transactions involving large holders, often referred to as “whales.” These transactions highlight potential fluctuations and losses that can occur even in substantial investments. Investors closely monitor whale movements, making it useful to know which altcoins they are targeting.
Massive LDO Transfer to Coinbase
Nine hours ago, according to monitoring by @ai_9684xtpa, a whale transferred 3.76 million Lido DAO (LDO) tokens to Coinbase. This transfer, valued at approximately $6.89 million, indicates a significant move given the history of this position.
This investor opened a position of 6.94 million LDO on April 12, 2023, at an average price of $2.32 per token. The current price has dropped to $1.84 per token. Four days before this latest transaction, the same investor was suspected of selling 3.17 million LDO. If the recent transfer to Coinbase is also a sale, the investor will incur a loss of $3.05 million.
Significant Moves in ENA Tokens
Thirteen hours ago, Lookonchain recorded another significant movement involving ENA tokens. An ENA staker released all 23.24 million ENA tokens, valued at approximately $17.3 million, and sold 19.36 million ENA tokens at a significant loss.
This staker withdrew 23.24 million ENA, worth about $30 million, from Binance between April 5 and April 10, when the cryptocurrency ENA price was $1.29 per token. The current assets amount to 3.88 million ENA, worth approximately $2.74 million. Thus, the whale has incurred a loss exceeding $13 million from this transaction.
Additionally, in another ENA transaction, Scopescan reported that an address named Safe Multisig withdrew 9.3 million ENA from Bybit. These tokens, valued at approximately $6.9 million, were then staked at Ethena Labs, marking another significant transaction involving large amounts of ENA tokens.
Finally, despite the significant amounts of money moved, we see substantial losses highlighting the volatility of crypto investments. For instance, the LDO whale has seen a significant decrease in the value of their assets, while the largest ENA staker has faced even greater losses.
