Bluzelle

Notable

<p>In a recent exploration, on-chain analyst <a href="https://twitter.com/lookonchain/status/1711951949296451616" target="_blank" rel="noopener noreferrer nofollow">Lookonchain</a> has shed light on some intriguing whale activities surrounding the Bluzelle (BLZ) token, which have notably influenced its market position.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="357" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-1024x357.png" alt="" class="wp-image-353589" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-1024x357.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-300x105.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-766x267.png 766w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-1536x536.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-2048x714.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-430x150.png 430w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-100x35.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-1004x350.png 1004w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-262-788x274.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="strong-sudden-deposit-triggers-a-price-drop-strong"><strong>Sudden Deposit Triggers a Price Drop</strong></h2>
<p>A substantial deposit has been observed in the crypto sphere, where a whale wallet has deposited a whopping 12.16M BLZ, equivalent to $1.45M, to Binance, causing a notable disturbance in the market. This action resulted in a ~14% drop in the price of $BLZ, showcasing the significant impact that whale movements can have on cryptocurrency prices.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="513" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-1024x513.png" alt="" class="wp-image-353597" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-1024x513.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-300x150.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-767x384.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-1536x769.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-2048x1026.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-299x150.png 299w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-100x50.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-699x350.png 699w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-263-788x394.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Moreover, it’s crucial to note that there are three whale wallets that collectively hold 134.5M BLZ, which translates to $16.2M and represents 27% of the total supply. For those considering shorting BLZ, it’s advisable to keep a close eye on these wallets and observe whether they engage in selling BLZ, as such actions could further influence the market dynamics.</p>
<h2 class="wp-block-heading" id="strong-potential-synchronized-whale-activity-strong"><strong>Potential Synchronized Whale Activity</strong></h2>
<p>Intriguingly, two wallets, labeled as 0xBf2B and 0xE8F1, may be under the control of the same whale entity. These wallets withdrew a substantial 109.8M BLZ ($13.22M), accounting for 22% of the total supply, from Binance during a price surge of $BLZ in August. The whale, currently in a profitable position, possesses the potential to significantly impact the market if they decide to sell, given the substantial amount of $BLZ they hold.</p>
<p>Further analysis reveals that wallet 0xCc82 withdrew 24.75M BLZ ($2.98M) from Binance on September 26, when the price was pegged at $0.19. Notably, 0xCc82 executed the $BLZ withdrawal from Binance on the same day as the whale wallet that dumped $BLZ recently, leading to a plausible assumption that they might be the same entity.</p>
<p>Given this context, there’s a likelihood that this wallet may dump $BLZ at a loss in the future. Such a move would be particularly noteworthy for traders and investors to monitor, as it could present further fluctuations in the $BLZ market.</p>
<p>The activities of whale wallets, particularly in the context of $BLZ, underscore the profound influence that large-scale movements can exert on the cryptocurrency market. For traders and investors, keeping a vigilant eye on such activities and understanding the potential implications of these large transactions can be pivotal in navigating the often tumultuous waters of cryptocurrency trading.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/3-notable-bluzelle-whales-to-monitor-for-potential-blz-shorting/">3 Notable Bluzelle Whales to Monitor for Potential BLZ Shorting</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

3 Notable Bluzelle Whales to Monitor for Potential BLZ Shorting

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