A smart whale, known as “0x257,” recently made a significant transaction involving assets worth $7.96 million. Spot On Chain data identified the whale’s deposit of several DeFi tokens to Binance from multiple addresses. The deposit included $AAVE, $LINK, $UNI, and $EIGEN tokens, with $AAVE being the largest asset. The crypto community took notice of this transaction because the whale decided to send these assets.
In a recent development, the smart whale “0x257” deposited $7.96 million worth of four assets, including three major DeFi tokens, to Binance. The breakdown of assets is as follows:
– 13,816 $AAVE tokens ($3.54 million) → $2.56 million profit (+255%)
– 161,463 $LINK tokens ($3.13 million) → $2.13 million profit (+213%)
– 85,529 $UNI tokens ($758,000)…
The smart whale’s success with long-held $AAVE and $LINK tokens is evident. The whale transferred 13,816 $AAVE tokens, equivalent to $3.54 million, resulting in a profit of $2.56 million, or 255%. Additionally, the whale moved 161,463 $LINK tokens, amounting to $3.13 million, and made a profit of $2.13 million, a 213% increase. Furthermore, 85,529 $UNI tokens were transferred, earning a profit of $258,000, or 52%.
It is worth noting that the whale has held these tokens since 2022, indicating a long-term investment strategy. Along with these tokens, 289,399 $EIGEN tokens were also transferred. These tokens, valued at $531,000, were earned through staking $ETH with EigenLayer, showcasing the whale’s diverse investment approach.
The large transactions made by the smart whale suggest an adjustment in its portfolio and may also influence market trends. Such transfers at significant profits indicate a response to the current market conditions. Moreover, as large players often have an impact on the market, this action may serve as a signal for future moves.
The cryptocurrency market closely monitors large transactions, as reported by Spot On Chain, as they can shape the overall market sentiment. This is just one example of how crypto investors, particularly the larger ones, diversify their portfolios.