Ethereum

dogwifhat

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whales-suffer-losses-in-bitcoin-and-ethereum-transactions/" data-wpel-link="internal">Whales Suffer Losses in Bitcoin and Ethereum Transactions</a><br></p>
<p style="text-align: justify">Although cryptocurrency whales have been making headlines with their transactions recently, it seems they do not always profit. While it is generally believed that whales make purchases with a <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future</a> outlook, there have been instances where these purchases resulted in losses. One such instance was recently uncovered by Lookonchain.</p> 
<h2 style="text-align: justify" id="whale-suffers-losses-in-bitcoin-and-ethereum">Whale Suffers Losses in Bitcoin and Ethereum</h2> 
<p style="text-align: justify">According to Lookonchain, known for revealing notable transactions in cryptocurrencies, an Ethereum whale suffered a loss of approximately 4 million dollars this summer after purchasing 8,825 ETH before a market downturn a few weeks ago.</p> 
<p style="text-align: justify">Lookonchain revealed that the whale bought 8,825 Ethereum between July 27 and August 3 from Binance at an average price of $3,169 per ETH, spending $27.96 million. An incredible drop occurred in cryptocurrencies on August 4.</p> 
<p style="text-align: justify">On Monday, it was observed that all the ETH purchased by this whale were deposited into Binance for $24 million, resulting in a loss of $3.96 million.</p> 
<p style="text-align: justify">Lookonchain also suggested that institutions might be selling ETH. It was observed that the digital asset <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">financial services</a> firm AmberGroup deposited 6,443 ETH worth $17.62 million into Binance and Kraken, and the crypto trading firm Cumberland sent 6,439 ETH worth $17.66 million to Binance.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-383965" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-coin-turk-com-1.png" alt="" width="1835" height="883"></p> 
<p style="text-align: justify">As of the time of writing, Ethereum continues to trade below $2,500. ETH, the second-largest cryptocurrency by market value, has experienced a drop of over 4% in the last 24 hours.</p> 
<h2 style="text-align: justify" id="whales-wif-move">Whales’ WIF Move</h2> 
<p style="text-align: justify">Meanwhile, another whale made significant purchases of dogwifhat (WIF), one of the leading meme coins on the <a href="https://en.coin-turk.com/solana-price-increases-by-19-in-the-past-week/" data-wpel-link="internal">Solana</a> (SOL) network, as revealed by a crypto watcher.</p> 
<p style="text-align: justify">On Monday, this whale deposited 700,000 WIF worth $1.25 million into Marginfi, a decentralized lending and borrowing protocol, and purchased 110,000 WIF for $197,000 USDC. In total, the whale holds 3.3 million WIF worth $5.94 million.</p> 
<p style="text-align: justify">As of the time of writing, WIF is trading at $1.57. Among meme coins, WIF ranks 4th and has experienced an 8% drop in the last 24 hours.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/whales-suffer-losses-in-bitcoin-and-ethereum-transactions/" data-wpel-link="internal">Whales Suffer Losses in Bitcoin and Ethereum Transactions</a></h5>
<p>The post <a href="https://en.coin-turk.com/whales-suffer-losses-in-bitcoin-and-ethereum-transactions/" data-wpel-link="internal">Whales Suffer Losses in Bitcoin and Ethereum Transactions</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Whales Suffer Losses in Bitcoin and Ethereum Transactions

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