A whale just bought 870k $AVAX worth $6.32m from Binance and split the withdrawal into three transactions.
The first transaction was used to test the wallet, followed by two larger withdrawals of 500k and 369.99k $AVAX .
Why split the withdrawal into three transactions? It’s a way to reduce risk: if something goes wrong with one transaction, he won’t lose the entire amount compared to withdrawing everything in a single transaction.
This is clearly a very cautious trader and his decision to buy AVAX this time was likely very well calculated.
Notably, $AVAX has been trading sideways for 11 weeks after a sharp three-week decline from $9.05 to $5.69. It is currently trading around $6.30.
What is making such a cautious whale start accumulating AVAX at this level?
#AVAX✈️ #AVAX
The first transaction was used to test the wallet, followed by two larger withdrawals of 500k and 369.99k $AVAX .
Why split the withdrawal into three transactions? It’s a way to reduce risk: if something goes wrong with one transaction, he won’t lose the entire amount compared to withdrawing everything in a single transaction.
This is clearly a very cautious trader and his decision to buy AVAX this time was likely very well calculated.
Notably, $AVAX has been trading sideways for 11 weeks after a sharp three-week decline from $9.05 to $5.69. It is currently trading around $6.30.
What is making such a cautious whale start accumulating AVAX at this level?
#AVAX✈️ #AVAX