The Corporate Whale That Always Bought Bitcoin (BTC) Suddenly Changed Its Mind and Started Selling! – Ethereum Whales Defy the Drop and Purchase $1...
The cryptocurrency market experienced significant downturns with Bitcoin (BTC) falling below $100,000 and Ethereum (ETH) dropping to $3,000. MARA Holdings, a Nasdaq-listed Bitcoin mining company, sold $236 million worth of BTC after steady accumulation, transferring 2,348 BTC to various platforms while still holding 53,250 BTC valued at $6.17 billion. Meanwhile, Ethereum whales took advantage of the ETH price decline, collectively purchasing 323,523 ETH worth $1.12 billion at an average price of $3,469 over the last two days, as per Lookonchain analysis.
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Market Turmoil and Major Declines
The market has experienced another bloodbath over the past two days. Following the decline in Bitcoin (BTC) and altcoins, liquidations reached billions of dollars, while BTC fell below $100,000 and Ethereum (ETH) fell to $3,000. Some investors see this decline as a buying opportunity, purchasing more assets, while others continue to sell.
MARA Holdings Sells Bitcoin
At this point, cryptocurrency analysis platform Lookonchain reported that MARA Holdings sold $236 million worth of BTC after steady accumulation. According to Lookonchain, Nasdaq-listed Bitcoin mining company MARA Holdings, previously a frequent buyer of BTC, suddenly started selling its BTC holdings.
Details of MARA Holdings' Transactions
Over the past 12 hours, addresses believed to belong to MARA Holdings transferred a total of 2,348 BTC (worth approximately $236 million) to various platforms, including FalconX, 2Prime, Galaxy Digital, and Coinbase Prime. Despite these transactions, MARA Holdings still holds 53,250 BTC, valued at approximately $6.17 billion.
Ethereum Whales on the Move
While MARA Holdings is attracting attention with its Bitcoin transactions, Ethereum whales are taking advantage of the huge drop in ETH. According to Lookonchain data, five Ethereum whales amassed a total of 323,523 ETH worth $1.12 billion over the past two days. The average purchase price of ETH in these transactions was $3,469.