These Whales Scoop $850 mln Worth FTX Tokens Ahead Of BlockFi Deal

 These Whales Scoop $850 mln Worth FTX Tokens Ahead Of BlockFi Deal

The biggest of the Ethereum (ETH) whale wallets have scooped more than $877 million worth of FTX token (FTT) in the last 24 hours. This huge accumulation has landed amid the ongoing speculation of FTX buying BlockFi.

Bonobo buys $381 mln worth of FTX

According to Whalestats, the FTT token has come out to be the top choice of ETH whales. It stands at the top of the most purchased tokens in the last 24 hours. However, FTX token is also holding the top spot on the tally of the top 10 tokens used by trading volume.

As per data, the whale address named “Bonobo” has added $381.4 million worth of FTX tokens in multiple transactions. The biggest transaction recorded has been of buying 15 million FTT tokens (worth approx $351 million). The wallet is now holding $460 worth of FTX tokens.

However, another whale named “BlueWhale0079″ scooped 16 million FTT tokens. The purchase was valued at around $384 million. The largest transaction recorded was valued at $235.9 million.

Meanwhile, the top 100 ETH whales cumulatively hold $494.11 million worth of FTX tokens. It is the 3rd largest crypto held by the largest wallets.

FTT 24 hr trading vol up by 50%

The recent purchase hasn’t much affected the price of the token. The FTX token jumped by over 2% over the last 24 hours. It’s trading at an average price of $24.2, at the press time. However, its 24 hour trading volume has surged by 53% to stand at $117 million.

According to reports, the FTX crypto exchange is in the negotiation talks for acquiring BlockFi. The term sheet is almost done and reportedly it will be signed by the end of this week. The deal has been settled for around $25 million which is actually 99% below BlockFi’s March 2021 valuation.

However, Ledn has presented a fresh proposal for the crypto lending firm. It mentions funding BlockFi rather than a full acquisition. It is reported that Ledn will be leading the funding round of up to $400 million while providing a $50 million equity contribution.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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