Large-scale investors holding thousands of Bitcoin (BTC) and Ethereum (ETH) have begun to dump their assets in favor of more lucrative investment prospects. Notably, several Bitcoin (BTC) whales have been seen selling off their BTC assets amid the current downward trend in the cryptocurrency market.
Many of these high-volume investors have shifted their attention towards innovative projects like ETFSwap (ETFS). Among other things, this trading platform allows users to trade Spot Bitcoin ETFs, an asset class that was a primary contributor to Bitcoin’s rise to new all-time highs.
Large Scale Investors Sell Off Bitcoin (BTC) Holdings
The blockchain data analytics platform Lookonchain, has disclosed a massive Bitcoin transaction that was executed by a crypto whale. Taking to X (formerly Twitter), the data analysis platform revealed that an anonymous crypto whale had panic-sold approximately 1,200 BTC valued at $75.55 million.
According to Lookonchain, the large-scale investor liquidated their holdings at a significant loss, with the current value of their assets falling below the initial purchase price.
Lookonchain revealed that when the price of Bitcoin experienced a decline of 7% on March 16, the investor had bought 1,332 Bitcoin (BTC) worth $90.8 million on the dip. However, earlier on March 19, the same crypto whale had initiated a similar BTC transaction, dumping 630 BTC worth $39.8 million at another loss.
This consistent loss underscores the risks associated with Fear Of Missing Out (FOMO) buying and panic selling. At the time of writing the price of Bitcoin is viðskipti at $63,534, according to CoinMarketCap.
Ethereum Whale Suffers Loss After Selling ETH Tokens
In another X post, Lookonchain ljós that Ethereum (ETH) whales were mirroring the selling pressures observed among Bitcoin (BTC) whales. Notably, a crypto whale recently dumped approximately 10,701 ETH valued at $33 million.
According to Lookonchain, the investor had sold off his holdings on Binance to repay a debt, amassing a loss of over $4 million. This transaction marked the second occasion that this particular whale incurred losses by going long on Ethereum (ETH) and selling during bearish periods.
Previously, on March 25, the crypto whale had deposited 11,275 Ethereum (ETH) tokens worth about $37.4 million to Binance. The transaction saw the same whale record a significant loss of about $500,000.
Eins og er, verð á Ethereum (ETH) is $3,086, reflecting a 13.89% decline over the past month.
ETFSwap (ETFS) Sees Influx Of Whales Amid Disappointing Market Performance
As the cryptocurrency market continues on its downward momentum, this presents an opportunity for investors who have suffered from financial losses to pursue other safer and more lucrative investment avenues within the crypto space.
Within the industry, the emergence of Spot Bitcoin ETF trading has provided retail and institutional investors the opportunity to make significant returns on their investments.
Unlike crypto exchanges like Binance, which primarily offers cryptocurrency trading, ETFSwap (ETFS), a groundbreaking DeFi platform, allows users to seamlessly trade both cryptocurrencies and ETFs, allowing users to potentially gain access to the massive funds flowing into this developing asset class.
By offering market-making and perpetual trading services, ETFSwap (ETFS) ensures that traders can access ETFs from different sectors, including high-value industries such as technology, energy, and healthcare. Moreover, investors can potentially amplify their profits by utilizing up to a 10x leverage on all trades available only in ETFSwap (ETFS).
This platform incorporates all the top principles of traditional finance and the DeFi ecosystem to enable users to trade using the best features and cutting-edge tools. Investors can track the performance of the ETFs they trade, keeping watch on market movements and fluctuations in asset value, all in a single decentralized platform.
Að auki ETFSwap (ETFS) integrates blockchain technology to provide a safe and reliable trading environment for users. CyberScope, a leading cyber security and blockchain audit firm, has also audited the platform. The audit’s findings ljós no technical flaws in ETFSwap’s (ETFS) underlying infrastructure or security measures.
Due to ETFSwap’s trading system’s robust security and anonymity protocols, numerous crypto whales are flocking to its ongoing presale, where they can purchase large amounts of ETFS tokens and gain access to the vast array of investment opportunities available on this platform.
Presently, more than 10% of the supply of ETFS tokens, exceeding 18.8 million tokens, have been sold in its first presale stage. Unlike Bitcoin (BTC) and Ethereum (ETH), which often demand substantial initial investments before yielding any potential profits, investors can acquire ETFS tokens at a low value of $0.00854, making it a cheaper and potentially more valuable investment option. The cryptocurrency’s price is expected to increase to $0.01831 in the upcoming second stage of the presale.
For more information about the ETFS Presale:
Visit ETFSwap Presale
Join The ETFSwap Community
Upplýsingagjöf: Þetta er kostuð fréttatilkynning. Vinsamlegast gerðu rannsóknir þínar áður en þú kaupir hvaða cryptocurrency eða fjárfestir í verkefnum. Lestu tilkynninguna í heild sinni hér.
Source: https://nulltx.com/bitcoin-btc-whales-dump-75-million-in-btc-for-etfswap-etfs-ethereum-eth-whales-follow-suit/