DeFi

Million

Spot

<h2 id="key-points">Key Points</h2>
<ul>
 <li>On-chain data shows crypto whales offload DeFi tokens on Binance.</li>
 <li>Yesterday, BlockTower Capital deposited over $16.7 million in UNI, LINK, MKR and ENA on Binance.</li>
</ul>
<p>During the past two days, a crypto whale deposited considerable amounts of DeFi tokens to Binance, marking significant profits, while a VC also offloaded tokens to the exchange, marking both profits and losses.</p>
<h2 id="crypto-whale-deposits-almost-8-million-in-defi-tokens-to-binance">Crypto Whale Deposits Almost $8 Million in DeFi Tokens to Binance</h2>
<p>According to on-chain data, a whale starting with “0x257” offloaded $7.96 million worth of four assets, including three major DeFi tokens to Binance.</p>
<p>The whale deposited 13,816<a href="https://crypto.ro/en/cryptocurrencies/aave/" rel="noopener noreferrer nofollow"> AAVE</a> tokens worth around $3.54 million, seeing a profit of over 250% of $2.56 million.</p>
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" src="https://pbs.twimg.com/media/GjAPlPzbUAA3dcY?format=jpg&amp;name=4096x4096" alt="Spot on Chain data" width="2142" height="1312" title="Crypto Whales Are Offloading DeFi Tokens on Binance With Millions in Profit 38">
 <figcaption>
  Spot on Chain data
 </figcaption>
</figure>
<p>The same whale also deposited 161,463<a href="https://crypto.ro/en/cryptocurrencies/chainlink/" rel="noopener noreferrer nofollow"> LINK</a> tokens worth over $3 million, recording a 213% profit of $2.13 million.</p>
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" src="https://pbs.twimg.com/media/GjAPlP2a4AMI-Oc?format=jpg&amp;name=4096x4096" alt="Spot on Chain data" width="2148" height="1316" title="Crypto Whales Are Offloading DeFi Tokens on Binance With Millions in Profit 39">
 <figcaption>
  Spot on Chain data
 </figcaption>
</figure>
<p>The same whale offloaded 85,529<a href="https://crypto.ro/en/cryptocurrencies/uniswap/" rel="noopener noreferrer nofollow"> UNI</a> coins worth $758,000, seeing a 52% profit – a realized gain of $258,000.</p>
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" src="https://pbs.twimg.com/media/GjAPlPya4AQkAgF?format=jpg&amp;name=4096x4096" alt="Spot on Chain data" width="2148" height="1314" title="Crypto Whales Are Offloading DeFi Tokens on Binance With Millions in Profit 40">
 <figcaption>
  Spot on Chain data
 </figcaption>
</figure>
<p>Also, the whale deposited 289,399 <a href="https://crypto.ro/en/cryptocurrencies/eigenlayer/" rel="noopener noreferrer nofollow">EIGEN</a> coins worth $531,000 on Binance, according to Spot on Chain data.</p>
<p>The funds came from an EigenLayer airdrop claim, and the whale was reportedly a signed contributor, and a rewards coordinator as well, according to the same data.</p>
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" src="https://pbs.twimg.com/media/GjAPlPza4AA7ja-?format=jpg&amp;name=large" alt="Spot on Chain via X" width="1542" height="1004" title="Crypto Whales Are Offloading DeFi Tokens on Binance With Millions in Profit 41">
 <figcaption>
  Spot on Chain via X
 </figcaption>
</figure>
<p>Spot on Chain also noted that this whale had been a long-term holder of AAVE, UNI, and LINK since mid-2022. Also, the whale claimed EIGEN coins by staking ETH with EigenLayer.</p>
<p>Yesterday, Spot on Chain also highlighted how a VC deposited DeFi tokens to Binance, seeing considerable net losses.</p>
<h2 id="blocktower-capital-deposited-over-16-7-million-in-defi-tokens">BlockTower Capital Deposited Over $16.7 Million in DeFi Tokens</h2>
<p>BlockTower Capital institutional investment firm reportedly deposited $16.78 million in four DeFi coins to <a href="https://crypto.ro/en/exchange/binance/" rel="noopener noreferrer nofollow">Binance</a> on February 4 in a few hours.</p>
<p>The VC took a net loss of $2.94 million, according to <a href="https://x.com/spotonchain/status/1886634795666694204" rel="noopener noreferrer nofollow" target="_blank">Spot on Chain</a> data. Here are the VC’s deposits from the other day:</p>
<ul>
 <li>The firm deposited 532,753 UNI coins worth over $5 million, earning $579,000, or a profit of 12%.</li>
 <li>The VC deposited 197,450 LINK coins worth over $4 million, recording a loss of 9%, or $426,500.</li>
 <li>The firm also deposited 3,861<a href="https://crypto.ro/en/cryptocurrencies/maker/" rel="noopener noreferrer nofollow"> MKR</a> coins worth over $3.7 million, seeing a loss of 31%, or $1.7 million.</li>
 <li>BlockTower Capital deposited 5,153 <a href="https://crypto.ro/en/cryptocurrencies/ethena/" rel="noopener noreferrer nofollow">ENA</a> coins worth over $3.4 million, seeing a loss of 29% or $1.39 million.</li>
</ul>
<p>BlockTower Capital received the coins a few days ago, according to the same on-chain data.</p>
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" src="https://pbs.twimg.com/media/Gi6sJ6Pa4AgW15Z?format=jpg&amp;name=large" alt="Spot on Chain via X" width="1434" height="1382" title="Crypto Whales Are Offloading DeFi Tokens on Binance With Millions in Profit 42">
 <figcaption>
  Spot on Chain via X
 </figcaption>
</figure>
<p>Spot on Chain noted that currently, the VC still has around $21.7 million in assets left, including over $5.4 million in AAVE, and over $4.8 million in <a href="https://crypto.ro/en/cryptocurrencies/ethereum/" rel="noopener noreferrer nofollow">ETH</a>.</p>

Crypto Whales Are Offloading DeFi Tokens on Binance With Millions in Profit

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