25 April, 2024

ETH Whale On An ETH Buying Spree After FTX Crash

01 Dec, 2022

22 Nov, 2023

Many bizarre events ensued in the crypto industry following the FTX crash. Added to the streak of events is an anonymous ETH Whale going on an Ethereum buying spree after the crash.

Since November 8, the ETH whale in question has purchased 17,225 ETH, per Lookonchain. These are worth approximately $21.25 million, with an average purchase price of $1,234.

Unearthing the shocking update, Lookonchain tweeted:

The whale’s address is tagged with the name, “Maker Vault Owner.” The said ETH whale is now the 101st largest Ethereum token holder, with 116,274 ETH, worth around $147 million.

The concerned ETH whale bought 5,923 ETH, worth about $7 million, from the Kraken crypto exchange. Whereas, 11,302 ETH, worth about $14.2 million, were bought by the ETH whale from the decentralized platform, Uniswap.

The identity of the whale is still a secret, but the community is curious about what propelled this particular person to go on an ETH buying spree.

Since the FTX disaster, a lot of intriguing things have been happening around Ethereum. Recently, the FTX hacker started swapping decentralized stablecoin DAI for ETH. Then, the FTX hacker went on to swap millions worth of ETH for RenBTC tokens.

On November 21, 180K $ETH, or almost $199M, were transferred from the FTX Accounts Drainer wallet to 12 separate new addresses. Each of these addresses is now holding 15K $ETH.

Ethereum co-founder, Vitalik Buterin, is also under the radar for some interesting transactions. A few days back, Vitalik Buterin sent about 40,000 ETH to the 0xD04…8fd7 address. The receiving address now has 64,301 ETH, or roughly $76.5 million.

On top of that, following the FTX crash, Vitalik Buterin dumped around 3000 ETH tokens. He swapped these ETH for about $4 million USDC in three transactions, on the Uniswap V3 platform.

The FTX crash did trigger the whole industry to make sudden choices for their assets. The community is still monitoring the movements of all the industry biggies in taking precautions for fund safety. Would any unfortunate Cryptoverse event take place next? Hopefully not!!


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