• Unknown investor deposits $16 million worth of stablecoins into Binance.
• Investor has previously made savvy trades, including dumping Ethereum at a local top and exchanging USDC for ETH before it lost its peg.
• Blockchain-tracking firm Lookonchain also spots whale withdrawing seven figures worth of Chainlink from Kraken exchange and Jump Trading accumulating four altcoins.

Smart Whale Deposits $16 Million in Crypto

An unknown investor with a history of savvy trades has deposited $16 million worth of stablecoins into Binance, potentially to purchase more crypto assets. The whale has already made three extremely clutch trades in the past, including selling Ethereum (ETH) at a local top and trading USDC for ETH before it lost its dollar peg.

Kraken Whale Withdraws Seven Figures Worth Of Chainlink

Blockchain-tracking firm Lookonchain also spotted a whale withdrawing seven figures worth of the decentralized oracle network Chainlink (LINK) from the crypto exchange Kraken, adding to its $9.67 million LINK withdrawal streak.

Jump Trading Accumulates Four Altcoins

Lookonchain also identified four altcoins being accumulated by crypto trading firm Jump Trading, which currently holds 1.59 million MASK ($6.15million), 1.09 million LDO ($2.11million), 509 million LEVER ($686K), and 1.07 million PERP ($545K).

Crypto Markets Show Signs Of Strength

The on-chain activity indicates that crypto markets may be showing signs of strength as investors are looking to make strategic investments in cryptocurrencies with potential upside potential.

Disclaimer

Opinions expressed by The Daily Hodl are not investment advice – investors should do their due diligence before making any high-risk investments in cryptocurrencies or digital assets, especially given the volatile nature of prices in this space.