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Blockchain tracking firm Lookonchain says a crypto whale suddenly withdrew $5 million worth of Solana (SOL) to possibly buy more artificial intelligence (AI) related tokens. According to Lookonchain, an anonymous deep-pocketed investor spent nearly $8 million of Solana to buy AI-focused altcoins AI Rig Complex (ARC) and ai16z (AI16z) and then withdrew more than 25,000 SOL from Coinbase. The whale may now use the SOL to buy even more AI-related tokens, as Lookonchain suggests the AI token trend may be making a “comeback.” “The mysterious whale withdrew another 25,306 SOL ($5 million) from Coinbase [Tuesday], possibly to buy more AI tokens. [Earlier ] the whale spent 38,138 SOL ($7.8 million) buying arc and ai16z.” AI16z is trading for $0.4746 at time of writing, down 8.9% in the last 24 hours. With a market cap of $530.2 million, the Solana-based token is the 158th largest crypto project. Meanwhile, ARC is trading for $0.3285 at time of wr...

A cryptocurrency whale has sold off tens of millions of dollars worth of Solana (SOL) since the year started, on-chain data shows. According to blockchain tracker Lookonchain, the whale initially sold the first batch of SOL on January 15th. Over the ensuing weeks and months, the whale unloaded 614,000 SOL worth $89 million on Coinbase, OKX and Binance crypto exchanges, per on-chain data. Source: Lookonchain/X The whale has averaged one sale per week, according to Lookonchain. Source: Lookonchain/X Looking closer at on-chain data, it appears that a stash of approximately 100,000 SOL was withdrawn from staking platforms over the last 30 days before being deposited into the three crypto exchanges. Source: Lookonchain/X SOL is trading at $142.66 at time of writing. In a new report, digital assets manager CoinShares says that Solana institutional crypto investment products witnessed millions of dollars in outflows last week. “ Solana saw outflows of US$39 milli...

The cryptocurrency industry has been on a roller coaster ride. Meme coins like PEPE have been undergoing significant volatility. The altcoin saw more than 34% rise over the past seven days. However, the meme coin was trading at $0.000008376 at press time, with a 0.26% drop over the past 24 hours. The 42% rise in daily volume increased selling activity instead of buying since the asset price did not see a massive surge. According to data from Changelly, PEPE is expected to record an uptick in the next couple of days. The asset will trade around $0.00001041 on August 15, following a 24% surge from its current price level. This surge, eliminating a zero, gives meme coin investors a much-needed boost. Whale Activity and Market Impact Whale’s Buying Spree Amidst this, a prominent whale named “cookislandstrust.eth” was seen making news for its moves. The whale has been buying a large amount of meme currency. Recent Purchases Recent data shows the whale bought an impressive 420 billion PEPE t...

In recent weeks, XRP has increasingly consolidated around the $0.5 mark as investors await a possible breakout .  Notably, amid the dormancy in XRP’s price, new on-chain data indicates that whale investors have been accumulating the token, possibly in anticipation of a rally. Particularly, addresses with at least 100 million coins have been buying more XRP tokens during the dip in the first ten days of June. Adding weight to this observation is the Mean Dollar Invested Age (MDIA) metric, which provides further insight into investor behavior. As of June 1, the 90-day MDIA for XRP stood at 1,812, indicating investors prefer to hold onto their XRP holdings rather than engage in active trading. Picks for you Ethereum to 'attack' its all-time high, lead altcoins at 'upwards only' market 26 ...

Tether’s Bitcoin (BTC) holdings have come under scrutiny from CryptoQuant. It deciphers whale behavior while emphasizing the need for meticulous Analysis . In a recent Twitter post, the on-chain data provider addressed the growing skepticism around Tether’s BTC holdings. 1-3/ Can we verify @Tether_to being the 11th largest #Bitcoin holder with the on-chain data? 4-6/ What is the blind spot of on-chain data when monitoring #Whales' behavior? Let's BUST this week's FUDs with our on-chain data. Thread — CryptoQuant.com (@cryptoquant_com) August 10, 2023 In its quarterly report, Tether disclosed its possession of around $1.67 billion in Bitcoin. This revelation ranks Tether as the 11th largest holder of the asset. However, CryptoQuant’s analysis reveals discrepancies that deviate from Tether’s official report. Moreover, Tether’s Bitcoin accumulation journey further underscores the intricacies of on-chain data interpretation. The company...