Giant Ethereum (ETH) Whales Move Over $110,000,000 in Crypto As Markets Stall – Here’s What They’re Up To

A pair of “giant” whales are conducting big transactions on the Ethereum (ETH) network, on-chain data sleuths report.

According to blockchain tracking firm Lookonchain, two whales each staked 8 figures worth of ETH and Staked Ethereum (stETH) early on Monday.

Lookonchain says the two whales staked their coins through Agility, a liquid staking derivatives (LSDs) and trading platform.

“We noticed 2 giant whales staked 29,073 stETH ($60.7M) and 26,550 ETH ($55.4M) via
Agility LSD.”

Whale ‘0x3f34 staked 18,694 stETH($39M) and 11,550 ETH($24M).

CZSamSun staked 10,379 stETH($21.7M) and 15,000 ETH($31.4M).”

Source: Lookonchain/Twitter

One of the wallets, labeled as CZSamsun, has over $193 million in assets, according to Web3 portfolio tracker Debank. The other wallet has $93 million, according to Debank.

Lookonchain also recently tracked down wallets sending money to crypto exchange Binance to scoop up Ethereum scaling solution Loopring (LRC) and Fantom (FTM), one of the ETH’s biggest rivals.

According to the firm, a whale sent Tether (USDT) to Binance and picked up nearly $1 million worth of FTM and over $3 million worth of LRC to add to its big stacks.

“A whale transferred USDT to Binance to buy FTM and LRC.

The whale received 7.56M LRC($3.1M) and 1.84M FTM($981K) ~1 hr ago.

Currently holding 9.75M $FTM ($5.2M) and 9.3M $LRC ($3.8M).

The buying cost of mFTM is ~$0.4040, and the buying cost of LRC is ~$0.4157.”

Source: Lookonchain/Twitter

At time of writing, Ethereum is trading at $2,079, while FTM is trading for $0.523 and LRC is going for $0.40.

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Featured Image: Shutterstock/Vanessa SG/Natalia Siiatovskaia

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