Crypto Whales Are Gambling on Uptober-Here’s How!

by

My dear reader, over the weekend, the crypto market extended its rally, as if it were a well-rehearsed play. 🐳 The total market cap reclaimed the $4 trillion mark, and Bitcoin, that perennial showoff, hit fresh highs. A delightful spectacle, isn’t it? 💰

Meanwhile, on-chain data revealed a surge in whale activity-those mysterious figures who trade in the shadows, sipping champagne while the rest of us sip lukewarm coffee. 🥂 Profit-taking, accumulation, and strategic positioning? How very quaint. The crypto world is a stage, and these whales are the stars of the show.

1. Ethereum (ETH)

Ethereum, that charming second-place finisher, appreciated by over 10%-a modest rise, but enough to make the whales squeal with delight. 🐳 It even managed to surpass the $4,500 mark, a feat it previously lost in late September. How dramatic! On the buying side, a new wallet address (0x982) received 26,029 ETH-worth a tidy $116.8 million. A new entry in the crypto elite, no doubt. 🎩

Another whale scooped up 7,311 ETH at an average price of $4,514. The address later supplied the tokens to Aave for lending. The investor transferred 33 million USDC into Hyperliquid to make the purchase. How very… strategic. 🧠

“Currently, the whale holds 38,275 ETH worth $172.9 million and 35.18 WBTC worth $4.34 million in lending in multiple wallets,” OnChain Lens added. A masterclass in diversification, if ever there was one. 🎭

Lookonchain noted that address (0xa312) pulled 8,695 ETH, valued at around $39.5 million, from Binance. While some whales were in accumulation mode, others chose to cash out. Trend Research remained on the selling side, continuing to reduce its Ethereum exposure. How very prudent. 🧠

According to Lookonchain, the firm transferred another 77,491 ETH worth around $354.5 million to Binance for potential sale. Since October, Trend Research has offloaded a total of 143,124 ETH, valued at roughly $642 million. A veritable goldmine of profit-taking. 💸

In addition, an old Ethereum whale (0xf97) deposited 4,500 ETH valued at about $20.4 million to Kraken as part of a broader trend. Over the past 4 months, the OG has deposited a total of 5,502 ETH ($23.38 million), after being dormant for 2 years and still holds 3,051 ETH ($13.8 million). A phoenix rising from the ashes? 🦅

“Over the past 4 months, the OG has deposited a total of 5,502 ETH ($23.38 million), after being dormant for 2 years and still holds 3,051 ETH ($13.8 million),” OnChain Lens posted. A tale of patience and profit. 🧠

Two additional long-term wallets, 0xeA4 and 0x3Ec, also sent funds to Kraken after four years of inactivity. The first deposited 1,000 ETH for a $10.4 million profit, while the second moved 800 ETH for about $1.04 million in gains. Together, both still hold 1,828 ETH worth roughly $8.28 million. A well-timed return to the spotlight. 🎭

Lastly, in a more speculative move, whale 0x0fec sold 1,001 ETH worth $4.55 million. The address then opened a 15x leveraged long on 15,023 ETH (about $67.8 million)-signaling rising confidence in short-term bullish momentum. A gamble, but a bold one. 🎰

2. Bitcoin (BTC)

Bitcoin had a remarkable weekend. The flagship cryptocurrency surged to a new all-time high above $125,000, continuing the bullish momentum of ‘Uptober.’ Some investors saw this as a major profit-taking opportunity. How very clever of them. 💸

Wallet 3NVeXm transferred 1,550 BTC worth approximately $193.75 million to Binance after the price hit its new peak. Earlier, an address linked to Alameda Research moved 250 BTC worth roughly $30.1 million to the same exchange. A well-timed exit, no doubt. 🧠

Despite this wave of deposits, institutional interest in Bitcoin remained strong. BitcoinTreasuries revealed that corporate players continued to increase their holdings. Over the past week alone, 14 companies increased their Bitcoin reserves, while only one reduced its position. A testament to the enduring allure of the digital gold. 🏆

The largest addition was 5,268 BTC from Metaplanet. Marathon Digital and CleanSpark added 373 and 308 BTC, respectively. Meanwhile, (Micro) Strategy expanded by 196 BTC. Other notable increases included Cango, with 101.7 BTC, and S-Science, with 265.5 BTC. A feast for the crypto elite. 🍽️

“The top 100 public companies jointly hold 1,038,119 BTC,” BitcoinTreasuries added. A veritable empire of digital assets. 🏰

3. Altcoins (ASTER, ONDO, and LINK)

Lastly, whales were also active across several major altcoins, signaling broader market engagement beyond Bitcoin and Ethereum. A crypto whale acquired 1.69 million Aster (ASTER) tokens for approximately $3.14 million. A bold move, if ever there was one. 🎩

Meanwhile, a Gnosis Safe Proxy wallet moved 11.67 million ONDO tokens-valued at around $10.87 million-into exchanges, which could hint at potential profit-taking. A calculated risk, no doubt. 🧠

“Of this amount, 3.89 million ONDO ($3.63 million) was moved into Arthur Hayes Bybit deposit address. Over the past month, a total of 40.77 million ONDO ($41.25 million) has been deposited into Arthur’s Bybit address,” OnchainLens wrote. A dance of numbers and ambition. 🎭

Finally, Arkham Intelligence data revealed that another whale deposited 700,000 Chainlink (LINK) worth roughly $15.52 million to Binance. A well-timed entry, if ever there was one. 🎩

Overall, whale activity over the weekend reflected a mix of strategies in the crypto market. While some large holders positioned for further upside, particularly in Ethereum and select altcoins, others used recent highs to lock in gains. With institutional demand for Bitcoin holding steady, the broader trend suggests continued confidence in the ongoing crypto rally. A delightful dance of greed and grandeur. 🎭

Read More

2025-10-06 08:33