Over the last few days amid the failed launch of Shibarium — a layer-2 blockchain for Ethereum (ETH) built for the Shiba Inu (SHIB) ecosystem — $131.57 million were moved by whale addresses in 29 transactions with at least $1 million each.

According to the data filtered and retrieved by Finbold — using the Spot On Chain platform — the total amount of transactions (with a minimum of $1 million) occurred since August 16, moments before Shibarium’s official launch.

This data was gathered on August 18, one day after the reported failure of the protocol, locking over 1,000 ETH of Shibarium users in the bridge contract, raising concerns about the safety of the funds, and the future of the project. Making current whale movements an even more relevant piece of information.

In total, 15.34 trillion SHIB were moved, only by these huge whales, accounting for 2.6% of the total supply of 589.35 trillion SHIB.

Considering SHIB’s price at the moment of each transaction, the total amount of $131.57 million was moved for an average of $4.53 million per transaction, among the 29 spotted whale transactions.

No withdrawals by SHIB whales from centralized exchanges

All 29 transactions considered, there were no transactions from a centralized exchange (CEX) address, to an unknown address — that are usually identified as withdrawals, and signs that a purchase occurred.

The transactions were a balanced mix of:

  • Unknown address to a CEX (deposit, usually means intention to sell)
  • CEX address to CEX address (internal transaction, for maintenance)
  • Unknown address to unknown address (impossible to know what they mean)
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Interestingly, there were also spotted two known addresses by institutional investors, Cumberland (“0xad6…d8862”) and Wintermute Trading (“0xdbf…dc080”), as follows:

  • Cumberland to Unknown: 200.87 billion SHIB ($1.71 million)
  • Unknown to Wintermute: 330.57 billion SHIB ($2.81 million)
  • Wintermute to Binance – 150 billion SHIB ($1.27 million)

SHIB’s biggest known whale is Binance, with multiple addresses. The biggest single whale address belongs to the crypto exchange Crypto.com (“0xf3B…302A3”), holding 43.73 trillion SHIB ($371.31 million).

The post Huge SHIB whales move $130 million amid Shibarium launch appeared first on Finbold.

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Dennis is a business and financial writer, who had spent almost his entire life independently reporting on different business ventures with major impact on the US and global economy. Dennis places a special focus on examining tech stocks, biotech stocks all while investing a great part of his early hours to researching and writing on the companies in the US markets. Dennis has 15+ years of experience in financial markets.