Whales Shift Over $380 Million in Bitcoin, Ethereum, Dogecoin, and Gnosis – Insights into the Future Trajectory of Cryptocurrencies

On a single day, Wednesday, whales orchestrated transactions involving Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Gnosis (GNO), moving assets valued at over $380 million.

Blockchain-tracking platform Whale Alert has reported significant movements of BTC and other cryptocurrencies by a few whales.

Leading US crypto exchange Coinbase engaged in the transfer of 2,500 Bitcoin, valued at over $74.3 million, to an undisclosed wallet. Additionally, an unidentified wallet transferred 2,616 BTC, approximately $77.8 million, to Coinbase.

Gemini, a New York-based exchange, facilitated the movement of 4,000 Bitcoin, valued at over $119.1 million, to another unknown wallet. Currently, BTC is trading at $29,625.

Concerning substantial Ethereum transactions, two unattributed wallets carried out sizable transfers to Coinbase. One wallet sent 18,920 ETH, valued at more than $35.1 million, while another moved 19,046 ETH, roughly $34.9 million, as per Whale Alert's data.

Another anonymous wallet transferred 15,000 Ethereum, worth over $27.8 million, to the Cayman Islands-based exchange Gate.io. The current value of ETH stands at $1,855.

Coinbase also received a substantial amount of the popular memecoin Dogecoin, with an unknown wallet transferring 67,881,717 DOGE, valued at over $5 million. DOGE is currently valued at approximately $0.0754.

Regarding other altcoins, Gnosis, an Ethereum sidechain, moved 92,000 GNO worth more than $10.2 million to an unidentified wallet. GNO's trading value currently stands at $111.51.

Aug 10, 2023

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