Corporate giant whales have become active in the cryptocurrency market, with one purchasing $87 million worth of Bitcoin while two others made significant sales in two different altcoins, causing prices to drop.
As the market sees a recent recovery in Bitcoin and altcoins, whales are either selling for profit or accumulating assets. Two whale addresses recently bought 1,210 BTC worth $86.81 million from Binance, indicating a strong interest from institutional investors.
On the other hand, two other whale addresses, believed to be institutional investors, sold 371,000 LINK worth $6.48 million and 541,000 UNI worth $5.89 million on Binance. This caused a 4% drop in the prices of both altcoins, despite their recent rally in late May following the excitement around Ethereum ETF approval.
While Bitcoin prices remained stable, LINK saw a 2.8% increase and UNI decreased by 3.9% in the last 24 hours. It is important to note that these actions are not investment advice, and traders are advised to conduct thorough research before making any investment decisions.