NewsletterThese Whales Scoop $850 mln Worth FTX Tokens Ahead Of BlockFi Deal
The biggest of the Ethereum (ETH) whale wallets have scooped more than $877 million worth of FTX token (FTT) in the last 24 hours. This huge accumulation has landed amid the ongoing speculation of FTX buying BlockFi.
Bonobo buys $381 mln worth of FTX
According to Whalestats, the FTT token has come out to be the top choice of ETH whales. It stands at the top of the most purchased tokens in the last 24 hours. However, FTX token is also holding the top spot on the tally of the top 10 tokens used by trading volume.
As per data, the whale address named “Bonobo” has added $381.4 million worth of FTX tokens in multiple transactions. The biggest transaction recorded has been of buying 15 million FTT tokens (worth approx $351 million). The wallet is now holding $460 worth of FTX tokens.
However, another whale named “BlueWhale0079″ scooped 16 million FTT tokens. The purchase was valued at around $384 million. The largest transaction recorded was valued at $235.9 million.
Meanwhile, the top 100 ETH whales cumulatively hold $494.11 million worth of FTX tokens. It is the 3rd largest crypto held by the largest wallets.
FTT 24 hr trading vol up by 50%
The recent purchase hasn’t much affected the price of the token. The FTX token jumped by over 2% over the last 24 hours. It’s trading at an average price of $24.2, at the press time. However, its 24 hour trading volume has surged by 53% to stand at $117 million.
According to reports, the FTX crypto exchange is in the negotiation talks for acquiring BlockFi. The term sheet is almost done and reportedly it will be signed by the end of this week. The deal has been settled for around $25 million which is actually 99% below BlockFi’s March 2021 valuation.
However, Ledn has presented a fresh proposal for the crypto lending firm. It mentions funding BlockFi rather than a full acquisition. It is reported that Ledn will be leading the funding round of up to $400 million while providing a $50 million equity contribution.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal 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.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Michael Saylor Predicts Bitcoin Will Overtake Gold’s Market Cap by 2035
- Breaking: Canary’s Spot XRP ETF (XRPC) Goes Live on Nasdaq
- Taiwan Eyes Plan To Establish Bitcoin Reserve By Year-End With Seized BTC
- Breaking: Crypto ETF Asset Manager Grayscale Files for U.S. IPO with the SEC
- Breaking: Czech Central Bank Buys Bitcoin as BTC Gains Ground as a Reserve Asset
- Solana Price Gears Up to $180 as DApp Revenue and DEX Volume Surge
- Cardano Price Rare Pattern Points to a 55% Crash as Key DeFi Metric Plunges
- Is Dogecoin Price Set for a Rally After 4.72 B $DOGE Whale Accumulation?
- XRP Price Shows Early Signs of Recovery Ahead of the First U.S. XRP ETF Debut—Rally Ahead?
- Will XRP, DOGE And ADA Surge After U.S. Government Shutdown Resolution?
- FUNToken is Trending Sideways Ahead of the $5M Giveaway: Is It Accumulating?
