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An unidentified major crypto investor, whose wallet begins with 0x04d8, has withdrawn altcoins valued at approximately $16.06 million from the Binance exchange. The transaction was tracked by the analytics platform Lookonchain.
The anonymous “whale” has nearly emptied their Binance wallet, which now holds assets worth $348.34. Within a span of two hours, the following amounts were withdrawn:
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43.49 million ENA tokens valued at $4.07 million;
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32,872 AAVE worth $3.64 million;
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249,741 AVAX priced at $2.37 million;
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595,886 UNI totaling $2.13 million;
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8.07 million ONDO amounting to $2.05 million;
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1.49 million PENDLE valued at $1.81 million.
The future of these assets remains uncertain.
In the comments on Lookonchain’s announcement, there were speculations that the wallet might belong to Arthur Hayes, co-founder of the BitMEX exchange. Since August, Hayes has been gradually liquidating his altcoin holdings, selling ENA, PEPE, LDO, PENDLE, and others. At the end of February, the crypto entrepreneur stated that, aside from Bitcoin, he is focusing solely on Ethereum, Zcash, and the Hyperliquid platform token.
Analysts from CryptoQuant noted that there is currently a decline in investor interest, including from large players, in altcoins. Trading volumes for these coins on Binance, the largest exchange by this metric, are now around $7.7 billion, while the total volume on other major platforms has decreased to approximately $18.8 billion. In comparison, during peak days last year, figures reached $91 billion.
Meanwhile, significant holders of Bitcoin and Ethereum have become more active. Recently, a “whale” that had been inactive for over two years moved 15,000 ETH worth $30.9 million to the American exchange Coinbase. This investor acquired 17,400 ethers back in 2014 at an average price of $11.6 per token.
