The crypto market has experienced a modest recession and has fallen 0.49% in the last 24 hours after a volatile weekend.
Bitcoin (BTC) fell to $115,511, while Ethereum (ETH) fell below $4,500. In the volatility, whales had mixed movements, some sold to dips, while others accumulated at lower levels.
Whale trading patterns split the market as a crypto retreat
As in the past few weeks, whales were widely traded. According to data from Onchain Lens, two new wallet addresses suspected to be controlled by a single entity received more than $115 million in ETH (25,684 ETH) from Falconx. This significant influx suggests potential strategic positioning by key players.
Separately, another whale increased its ETH holdings with 3,333 tokens, worth almost $1,493 million. The newly created address had previously obtained 9046.23 ETH from Kraken over the weekend.
“A total of 16,872 ETH (US$74.99 million) has been withdrawn from Kraken, with an average price of $4,444.76,” posted by an analyst on the chain.
In contrast, Crypto Whale valued 3,492 ETH at $15.57 million, securing a profit of $17.37 million.
“Initially, the whales retracted 5,800 ETH from Binance two years ago.
Another major Ethereum whale, identified as wallet address 0x69b…0E378, also booked profits. Two months ago, investors bought 2,437 ETH, with an average price of $2,448.
Today, the address has been moved to Binance and part of the tether (USDT) has been withdrawn. The move is estimated to have generated around $5.05 million in profits.
“This may suggest that he didn't sell everything because of the price drop. Or he simply left USDT on Exchange,” the analyst emphasized.
In addition to ETH, ChainLink also attracted whales' attention. This may be because Altcoin lost to a wider market decline and rose 5.9% over the past 24 hours. Amid this rise, four whales pulled out more than 400,000 links and withdrew about $9.82 million worth of Binance.
Within 24 hours, four whales had completely withdrawn the 404.8K$link from #Binance at 9.82m.
-0x99b: 102.25k $link~$2.47m ->273k~$6.6m
-0x4a8:43,133$link~$1.04m ->312.3k~$7.7m
-0xa36:169.6k$link~$4.14m ->275k~$7.7m
– 0x4eb: 89.9k $link~ $2.17m -> holds…pic.twitter.com/udylooz8cp– Data otaku (@onchaindatanerd) August 17, 2025
One of the four whales (0x4eb…3D5AF) then forwarded another 211,346 links valued at $5.3 million. This suggests strong confidence in the future performance of Chainlinks.
“Now, the whales are holding the 932,640 links accumulated over the past three days at $23.55 million,” Onchain Lens said.
In another development, Pump.Fun's token distribution address sent 2.5 billion pump tokens to OKX. Additionally, Arkham data revealed that addresses that could be linked to crypto investor Rudy Caddock have transferred around 1.976 million Curve DAOs (CRVs) to Binance, suggesting possible sales pressure for Curve Finance's native tokens.
Meanwhile, the newly created wallet has taken out 450 btc worth $5,322 million from Binance and put key entries on the market with new or rebranded whales.
The co-founders of Sky Protocol (formerly Maker) also performed prominent transactions. He used 16.7 million ENAs to buy back 1638 million skies, reflecting strategic acquisitions to strengthen its ecosystem.
“Since early June, he has used Sky (USDS and SPK) and today's ENA's total revenue of $10.21 million to buy back 122 million at an average price of $0.0836,” Embercn noted.
Finally, in a more unconventional move, the Crypto Whale recovered 172 million USDC (USDC) from Binance and used the funds to purchase 1.79 million Fartccoins (Fartcoins).
These transactions highlight the active role of whales in the market. Along with diverse activities in other tokens, the concentration of large movements in ETH and links suggests a mix of profitable, accumulated and speculative theatre.
The buying and selling of crypto whales among the market dips first appeared in Beincrypto.
