Whales wake up and do damage amid the latest crypto crash

Things are messed up and messy in the crypto space at the minute, and whales are doing what they always do: damage. But for once, it isn’t unilateral.


For the first time since, well pretty much ever, whales are beginning to show signs that they might be considering offloading some of their holdings as over 50,000 bitcoins have been transferred to various exchange platforms from cold and hot wallets.


On top of that, you’ve got giant investment firms like Cypherpunk Holdings that are trying to paper their losses by selling stuff.


The company has sold around 205 ETH for $227,000 and 214 BTC $4.7 million.


I’m assuming that they did it because they bought these ETH and these BTC back when they were worth like 2 cents. In fact, they did say that they turned a profit from the sales. But it still doesn’t make much sense.


Actually, it does. Which makes it worse. I never sold my BTC or my ETH when they were worth $69k and $4.8k respectively so I would only sell now if I absolutely had to. Which fortunately I don’t but it seems that some of these giants do.


I bought some ETH yesterday. I bought some BTC this morning. I may be a beer tomorrow.


Cheers.



I’ve crossposted this article on readcash, LeoFinance and Publish0x, a social media platform that pays you small amounts to create and/or read content. You need to sign up but it’s 100% free.

Bitcoinea is unsponsored and independent. If you like the content please subscribe to the WordPress website, follow on Instagram it helps a bunch. Also, if you want to support the website with Crypto, any donation in Eth (or any other Ethereum-based token), Btc, Nano, is highly appreciated (see address below) Thank you.

Eth: 0xF8D5df20ed7B80624B02F21661DD0Fd57bf27F0D

Btc: bc1q40wwu2qshpwkpurtyyrhs5t3kq0szrfjlyzmku

Nano: nano_3931o9kgduoqpt6wi6148dbooj8458wzi6djqkiocyqkkfyus71agxbtzg13

Doge: DD7use8x8Zw37XumJcwQxfkiqYR4eo5pjF


Use this link to get a discount on Undone Watches

Use this link to get a discount on your first Glovo order

Use this link to get up to $250 in crypto on your first deposit on BlockFi

Use these links to get free crypto on your deposit CoinbaseCrypto.comWirexNexo or Binance

Use this link to get free diamonds use my CoinmarketCap code.

If you haven’t yet, consider using Revolut as a substitute to traditional banking.

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s