Ethereum Gaming Altcoin Rallies, Huge Whale Withdraws From Binance

Ethereum gaming altcoin rallies, and huge whale withdraws crypto from Binance. Check out the latest reports about this below.

An Ethereum-based altcoin used for gaming experienced a significant increase in value as a large amount of the project’s tokens were moved off an exchange by a crypto whale, according to on-chain data reported by blockchain tracking firm Lookonchain.

The layer-2 scaling solution, ImmutableX (IMX), surged by 20% due to the whale’s actions.

“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).”

At the time of writing, IMX is trading for $1.98, which is 3.8% lower than the price 24 hours ago. Lookonchain observed that the price of SATS (Ordinals) is surging due to its listing on the Binance exchange.

“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 currently trading at $0.000000515075, which is 123.4% higher than its value 24 hours ago.

In other news, Lookonchain has reported that a wallet suspected to be linked to HashKey suddenly transferred a large amount of Ethereum to Binance, resulting in a significant loss.

The wallet in question deposited 17,108 ETH (which is equivalent to $38.1 million) to Binance when the price of ETH experienced a sharp decline, causing a loss of over $2 million.

It has been revealed that Ethereum is about to explode in price. At the moment of writing this article, ETH is trading in the red, and the coin is priced at $2,351.

An important analyst believes that Ethereum (ETH) is preparing for a significant surge upwards.

The analyst, who goes by the pseudonym Bluntz, has informed his 230,700 followers on the X social media platform that Ethereum has now entered the bull market phase after leaving its accumulation range that lasted for several months.