24/7 Cryptocurrency News

These Whales Scoop $850 mln Worth FTX Tokens Ahead Of BlockFi Deal

As per data, the whale address named "Bonobo" has added $381.4 million worth of FTX tokens in multiple transactions. T
Published by
These 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.

Advertisement

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.

Advertisement

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.

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

  • 24/7 Cryptocurrency News

Donald Trump Shortlists Hassett, Warsh, and Waller for Fed Chair

U.S. President Donald Trump has revealed his shortlist of candidates who could potentially replace Fed…

September 6, 2025
  • 24/7 Cryptocurrency News

Ethena Labs Secures Fresh Funding From ArkStream Capital, ENA Price Spikes

Ethena Labs has secured fresh funding from ArkStream Capital as it expands its ecosystem in…

September 6, 2025
  • 24/7 Cryptocurrency News

SEC Forms International Task Force to Crack Down on Pump-and-Dump Schemes

The U.S. Securities and Exchange Commission has launched a task force designed to tackle cross-border…

September 6, 2025
  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun responded to World Liberty Financial freezing his wallet by promising to purchase $20…

September 6, 2025
  • 24/7 Cryptocurrency News

Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500

Michael Saylor's Strategy (NASDAQ: MSTR) missed the inclusion in the S&P 500 index on Friday,…

September 6, 2025
  • 24/7 Cryptocurrency News

MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings

MARA announced that it now holds $5.9 billion worth of Bitcoin. This cements its position…

September 6, 2025