According to on-chain data, a giant cryptocurrency whale has been making large purchases on Binance since October. The whale in question has been regularly purchasing the dYdX (DYDX) altcoin on Binance since October 18, 2022.
Whale made its last purchase on January 20 by purchasing dYdX for approximately $1 million. The whale, which has purchased 9.5 million dYdX tokens since October, has a total of $21.2 million in dYdX tokens in its wallet. On average, the whale has made purchases since October at $1.62. As of writing, dYdX is trading at $2.26, down 2.27% in the last 24 hours.
It is noteworthy that the last purchase of the whale came just before the recent rise experienced by the dYdX token. It seems that the total amount of crypto money that the giant dYdX whale keeps in its wallet is approximately $ 26.5 million. Around $21.2 million in dYdX tokens, as well as $4.6 million Ethereum Name Service (ENS) and $550,000 stablecoin USD Coin (USDC), are in the whale’s wallet.
The dYdX token recently faced a major unlock event. However, the altcoin team delayed this unlock event to the end of the year, causing a surge in the price of the token.