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Crypto whales kick off September strong


Since the beginning of September Whale Alert has been full of reports and notifications of the constant activity of crypto whales. However, this time we bring you a summary of the highlights of its activity with Ether (ETH), Bitcoin (BTC) and (YFI).

Crypto whales accumulate ETH in September

In recent weeks, a lot has happened regarding Ethereum. With the rise of decentralized finance (DeFi) some whales have become a little more interested in the Ethereum ecosystem, and therefore since the beginning of September a marked accumulation of ETH has been noticed.

Exactly, since September 1 they have carried out nineteen operations for a total of 1,074,958 ETH, of which 51.02% was taken from exchanges to unknown wallets. The accumulated total was 548,349 ETH, while other whales introduced 276,610 ETH in different exchanges for sale taking advantage of the slight price increase of this cryptocurrency.

Finally, in the case of Ether, 249,999 ETH were also mobilized between unknown wallets.

Interest in YFI grows considerably

In that sense, it is also worth highlighting what happened with YFI. This cryptocurrency has had impressive growth, even exceeding the value of Bitcoin. Since then, crypto whales have accumulated a total of 1,058 YFI.

As of this writing, this cryptocurrency is worth US $ 23,703.31 according to CoinMarketCap. This is 6.24% more than yesterday, but it still does not reach the US $ 34,916 of last August 31.

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Crypto whales have been active during the first week of September, mostly with ETH, BTC, and YFI. Source: Whale Alert

However, the predominant trend was to take the tokens from unknown wallets to exchanges, probably to sell them. Thus, crypto whales carried 54.87% of the total YFI mobilized to different exchanges.

At the time of publication, 3,490 YFI mobilized through 26 operations, since the beginning of September. This is equal to US $ 82,724,551.9.

Therefore, we can affirm that the whales increased their interest in taking advantage of the sale benefits of this cryptocurrency while it reached its highest price so far. Other whales that are betting on their growth are those that accumulated the 1,058 YFI reflected in the summary table.

More than 80,000 BTC since the beginning of September

In this first week of September, the Bitcoin whales carried out 47 operations with BTC. These in total add up to 80,889 BTC. The predominant trend was to move tokens from unknown wallets to exchanges, specifically 45,055 BTC, or 55.7% of the total.

Meanwhile, the cumulative total was 27,274 BTC. This means that at the moment the whales are seeking to ensure the benefits generated by the cryptocurrency trade while BTC still faces a price correction, but that there are still whales appealing to the long term and therefore continue to accumulate. Likewise, a total of 8,560 BTC was mobilized between exchanges as shown in our summary table.

Since September 3, Bitcoin has been falling considerably in terms of its price. At the time of writing this post it changes hands for a price of US $ 10,241.39 according to CoinDesk. The above represents an increase of 1.33% compared to yesterday, but it still does not match the prices of the beginning of the week.

Therefore, it is understandable that in the midst of all this many whales considered taking advantage of the moments when it was still close to $ 12,000 before it continued to lose strength. But, by doing this, they increased the available liquidity and thereby supported the reduction in the price of the cryptocurrency.

In that same sense, it is not surprising that others that bet on the medium and long term were precisely those that accumulated the 27,274 BTC described above.

Whatever the case, the truth is that the whales mobilized the equivalent of US $ 828,415,795.71 in just six days.

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