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- 🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Essay Content Directio
Giant whale shook the crypto market: It brought in billions of dollars!
A massive whale wallet has injected 3.22 billion USDT into the crypto market since October 20, 2023.
The cryptocurrency market has been trending upwards in recent days. The permanence of Bitcoin (BTC) above 50 thousand dollars attracted large investors as well as small investors. Many whales started to move large amounts of cash assets to the stock markets.
On-chain research organization Lookonchain stated in its post on the X platform that a big whale has injected cash into the crypto market. According to Lookonchain, the whale injected 3.22 billion USDT into the crypto market.
According to Lookonchain's on-chain research, a massive whale wallet has injected 3.22 billion USDT into the market since October 20, 2023. Additionally, the whale deposited 148.5 million USDT into exchanges in the last 26 hours.
The cryptocurrency market took off with the creation of the spot Bitcoin ETF agenda in September 2023. A remarkable data emerged in the market, which has continued its rise since then. A giant whale has begun injecting cash into the crypto market with the start of the spot Bitcoin ETF agenda. Whale moved 3.22 billion USDT into the market in a period of approximately four months. It is estimated that the whale carried out transactions on Bitcoin and Ethereum with this cash. Another view is that the whale is a market maker.
This whale wallet, which crypto investors call The Injector, continues to inject USDT into the market. Balina transferred 148.5 million USDT, withdrawn from Tether reserves in the last 26 hours, to the exchanges.
Whale first injected 40 million USDT into the markets on October 20, 2023. On this date, the BTC price corresponded to 28 thousand dollars. Whale accelerated its cash injection between November and December, when the spot ETF agenda was intensifying. During this period of time, the whale introduced approximately 1.5 billion USDT into the markets with 6 different transfers.
The whale, which has been silent since January, broke its silence with the transfer of 148.5 million USDT recently. Investors were excited when the whale injected USDT into the markets again after a one-month break.