Ethereum Gaming Altcoin Rallies As Massive Whale Withdraws From Binance: On-Chain Data

One Ethereum (ETH)-based gaming altcoin soared as a crypto whale suddenly moved a massive amount of the project’s tokens off an exchange, on-chain data shows.

As reported by blockchain tracking firm Lookonchain, layer-2 scaling solution ImmutableX (IMX) shot up 20% as a crypto whale made big moves.

“The price of IMX increased by 20% today. We noticed that three wallets (possibly belonging to the same whale) withdrew 4.3 million IMX ($9.6 million) from Binance [Monday].

This whale has six related wallets and currently holds a total of ~40.54 million IMX ($90.8 million).”

IMX is trading for $1.98 at time of writing, down 3.8% in the last 24 hours.

Lookonchain also noticed that SATS (Ordinals) is soaring amid a key listing by top global crypto exchange Binance.

“The SATS price is up ~120% since Binance announced the listing of BRC-20 Sats.

On-chain data shows that the top 20 holders of SATS hold 333.3T SATS ($150.8 million, 15.90% of the total supply).

Six of the top 20 holders obtained SATS through minting, with ~78.57 million SATS ($35.5 million).”

SATS is trading for $0.000000515075 at time of writing, up 123.4% in the last 24 hours.

Lastly, Lookonchain reported a HashKey-suspected wallet abruptly moved a massive amount of Ethereum onto Binance, suffering a loss.

“The wallet related to HashKey has deposited a total of 17,108 ETH ($38.1 million) to Binance after the ETH price plummeted, losing more than $2 million.”

Ethereum is trading for $2,187 at time of writing, down 1.4% in the last 24 hours.

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