News

ETH Whales Frontload $925 Mln FTX Tokens Before Major Deal

Major Ethereum whales may have traded on insider information before FTX announced an expansion into Canada on Friday, on-chain data shows. 
Published by
ETH Whales Frontload $925 Mln FTX Tokens Before Major Deal

Major Ethereum whales may have traded on insider information before FTX announced an expansion into Canada on Friday, on-chain data shows.

Advertisement

“BlueWhale0016” adds 33 mln FTX Tokens

According to the whale transaction tracker WhaleStats, a Wallet address named “BlueWhale0116″’ single handedly added $782.6 million worth of FTX tokens. This acquisition added over 33 million FTT tokens in just 2 transactions. The wallet added $462.7 million worth of FTX tokens in the biggest transactions.

“BlueWhale0116” added another $319.9 million worth of FTT tokens in the second transaction. As of now, the wallet address is holding around $472 million worth of FTX tokens. Meanwhile, other Whale wallets named “Bonobo” and “BlueWhale0079″ added 3 million FTT tokens (approx worth $142 million) each.

It is important to note that these transactions took place before the deal was announced. Since then the token price jumped by over 4%. The FTT token is trading at an average price of $24.46, at the press time. However, the FTX prices have slumped by around 13% in the past 7 days. It is still holding a market cap of around $3.32 billion.

Advertisement

FTT slips Shiba Inu

The whale transactions have helped FTT to flip the Shiba Inu token as the biggest coin held by the top ETH whales by the dollar value. As per the data, top whales are holding around $762 million worth of FTX tokens.

One of the world’s largest cryptocurrency exchanges, FTX is obtaining Bitvo Inc. It is reported that the Canadian crypto exchange is regulated by all 13 commissions of the nations. This move has landed amid increased volatility in the global cryptocurrency market. The cumulative crypto cap has declined to stand at $900 billion.

However, the terms of the acquisition haven’t been revealed by FTX or Bitvo. Meanwhile, it is expected to close by the third quarter of this year within the view of pending regulatory approval.

Advertisement

Share
Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at ashish@coingape.com

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions

Standard Chartered analyst Geoff Kendrick has predicted that the Bitcoin price could suffer a significant…

October 22, 2025
  • News

Rising Demand for Verifiable Crypto Ownership Drives Launch of Trezor Safe 7

Crypto ownership is a topic that has been discussed across major forums globally in the…

October 22, 2025
  • News

Robinhood Lists Binance Coin as BNB Outperforms BTC, ETH, SOL YTD By Over 30%

Crypto exchange Robinhood has listed the Binance coin for spot trading for its U.S. customers.…

October 22, 2025
  • News

Bitget Partners With Google Developer Group On Hackathon To Support AI Innovation

Bitget, a leading crypto exchange in the world, has joined forces with Google Developer Group…

October 22, 2025
  • News

Can Cardano Save Kadena? Hoskinson Reaches Out After KDA Token Plunges Amid Scam Allegations

Kadena has announced it was shutting down operations, sending its KDA price into a freefall.…

October 22, 2025
  • News

Analyst Turn Bullish with $400 SOL Target as Hong Kong Approves First-Ever Solana ETF in Asia

Hong Kong has officially approved the region’s first-ever Solana ETF in Asia. This comes as…

October 22, 2025