A big crypto whale has recently made a crucial decision regarding their $PAXG holdings. In this respect, the whale, going by “samurai.eth,” has dumped more than $3M in $PAXG amid the growing on-chain activity. As per the data from Onchain Lens, the transactions took into account $PAXG, $USDT, and $ETH. The respective development is reportedly a part of the multi-week liquidation spree.

A whale, "samurai.eth," has sold 601 $PAXG for 3M $USDT and 2.28 $ETH ($4,680), in the past 24 hours.

In the past 3 weeks, it has sold 2,503 $PAXG for $12.89M at a price of $5,150.

Address: 0xde6b2a06407575b98724818445178c1f5fd53361 pic.twitter.com/3M5ZMmhB1s

The on-chain data discloses that the whale “samurai.eth” sold up to 601 $PAXG. In return, the whale has obtained 2.28 $ETH and 3M $USDT. This move reportedly underscores the continuation of multi-week liquidation. Specifically, over the past 3 weeks, the whale address, “0xde6…53361.” offloaded up to 2,503 $PAXG, getting $12.89M in return, with $5,150 as an average sale price.

The whale started with the withdrawal of 500 $WSETH from the awstETH pool of Aave ahead of burning the $AETHWSTETH tokens. Just after that, the address repaid up to 502 $ETH tokens to the Lending Gateway of Aave, indicating a decrease in the overall leveraged exposure. Subsequently, the whale interacted with the liquidity Proxy of Fluid, obtaining 500 $ETH with a value of almost $979,810. Additionally, some smaller swaps, including 1.64K $USDT and 0.938 $PAXG, also took place afterwards.

Apart from that, further activity took into account a Settle transfer routed via CoW Protocol, with the exchange of 0.938 $PAXG for 2.28 $ETH. Additionally, the whale also performed a Multicall via Morpho Blue, getting 2,000 $USDT tokens ahead of shiting 2M $USDT to the EthereumGeneralAdapter of Morpho. Such movements signify the whale’s aggressive position rebalancing activity.

According to Onchain Lens, before the conclusive $PAXG selling wave, the whale utilized CoW Protocol to settle 333,770 $USDT at a value of $332,510 in exchange for nearly 66.72 $PAXG. Another settlement involved the swap of 488,820 $USDT for 97.72 $PAXG, furthering the trend of gold-backed asset liquidation. Overall, regardless of the potential motive behind this move, the whale is still among the top active addresses engaged in continuous selling within the Ethereum ecosystem.

Bitcoin price in Telegram @btc_price_every_hour

106 +