Whale Withdrew Thousands Of ETH To Purchase UNI And AAVE

Published 26/06/2023, 06:54
©  Reuters Whale Withdrew Thousands Of ETH To Purchase UNI And AAVE
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  • Earlier today, a whale withdrew millions worth of ETH from Binance to buy UNI and AAVE.
  • Both UNI and AAVE saw their prices rise by more than 10% over the past day.
  • ETH’s price was able to increase by just over 1% despite the massive ETH withdrawal by the whale.

In one of their latest tweets, the analytics platform, Lookonchain, revealed that approximately two hours ago, a prominent whale made a significant Ethereum (ETH) withdrawal. The post revealed that 2,096 ETH (equivalent to $4 million) was withdrawn from the popular cryptocurrency exchange, Binance.

Shortly after, the whale proceeded to utilize 500 Ethereum (approximately $960,000) to purchase 184,664 units of Uniswap (UNI) tokens at a price of $5.2 per token. Additionally, the whale spent 862 Ethereum (about $1.65 million) to acquire 24,252 Aave (AAVE) tokens at a price of $68.25 per token.

Meanwhile, data from CoinMarketCap indicated that both UNI and AAVE saw huge increases in their prices over the past 24 hours of trading. UNI was trading hands at $5.39 after it saw a more than 11% price rise. This pushed the crypto’s weekly performance further into the green at +19.78%.

UNI price (Source: CoinMarketCap)

Furthermore, UNI’s 24-hour trading volume saw a 118.55% increase, which left it standing at around $106 million at press time. Since reaching its all-time high (ATH) in May of 2021, UNI’s price has slipped by more than 88%.

AAVE price (Source: CoinMarketCap)

AAVE was one of the biggest gainers among the top 50 biggest cryptocurrencies after it saw its price rise by more than 24% over the past day. As a result, AAVE was worth $72.09 at press time, leaving it trading close to its 24-hour high of $73.53.

The altcoin’s weekly performance was also firmly set in the green zone at +39.84% after its latest ascent. Its market cap of $1,037,394,232 ranked AAVE the 40th biggest crypto in terms of market capitalization.

Despite the whale’s massive ETH withdrawal, the altcoin leader was still able to print a 1.23% gain over the past day of trading. Consequently, ETH was trading at $1,910.73.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post Whale Withdrew Thousands Of ETH To Purchase UNI And AAVE appeared first on Coin Edition.

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