In recent days, as the cryptocurrency market experiences volatility, the actions of large investors continue to draw significant attention.
Data from the on-chain analysis platform Lookonchain reveals substantial accumulation in AAVE, Chainlink, and Ethereum, contrasting with a dramatic liquidation event involving Zcash.
AAVE Accumulation by a Major Investor
During the recent market pullback, a prominent AAVE whale, identified by the address 0xE9D0, purchased an additional 40,433 AAVE tokens over the past five days. This purchase, valued at approximately $7.1 million, brings the whale's total accumulated AAVE holdings to 292,838 tokens over the last three years. The total purchase cost for this extensive portfolio was $54.5 million, with an average acquisition price of $170 per token. This significant investor currently holds approximately $4.6 million in unrealized profits.
Chainlink Reserve Expansion
On the Chainlink front, a notable update to the reserve has been observed. In the last 24 hours, the Chainlink Reserve added 89,079 LINK tokens, increasing its total reserve to 973,752 LINK. This current holdings amount is valued at approximately $12.89 million.
Ethereum Whale Activity and Potential Purchases
A whale on the Ethereum network is also attracting attention. An investor acquired 4,322 ETH, equivalent to approximately $13 million, on Binance. Additionally, the investor deposited another $4.65 million in USDC to the exchange. This subsequent transfer has been interpreted as an indication that the investor is planning to purchase more ETH. Reports suggest that the same whale has achieved a total profit of $3.5 million from recent trading activities on the HyperLiquid platform.
Royal Government of Bhutan's ETH Transaction
Another noteworthy transaction involved the Royal Government of Bhutan. A sum of 160.35 ETH, approximately $483,000, was transferred from the official wallet to QCP Capital. It remains unclear at this time whether Bhutan is executing an over-the-counter (OTC) sale of ETH or engaging in another form of financial operation.
Zcash Faces Massive Liquidation
In contrast to the accumulation trends, the privacy-focused cryptocurrency Zcash (ZEC) has experienced a significant liquidation event. As the ZEC price experienced a sharp decline, a whale's leveraged long position was completely liquidated, resulting in a loss of $1.59 million. This investor reportedly lost a total of $2.39 million, with only $24,000 remaining in their account.