The recent downturn in the broader cryptocurrency market is offering a great opportunity for investors to add more tokens to their portfolios. In this sense, a giant has been taking advantage of the drop in prices to invest massively in cryptocurrencies.
Cryptocurrency trading firm Amber Group, which has over $1 trillion in trading volume since 2017, is currently investing heavily in cryptos amid the broader market crash in recent days.
According to data released by tracker Lookonchain on June 14, it shows addresses related to the Amber Group making massive purchases during the recent low. According to the data, almost US$20 million was withdrawn from the wallet in two cryptocurrencies, namely: Ethereum (ETH) and Uniswap (UNI) from the exchanges. The company’s action suggests a measure for position negotiation.
A wallet related to Amber Group withdrew 987,053 $UNI($10.6M) and 2,638 $ETH($9.2M) from #Binance in the past 3 hours.https://t.co/G3LaYopnBp pic.twitter.com/W4CN5QFkIg
— Lookonchain (@lookonchain) June 15, 2024
According to the platform, the address related to Amber Group withdrew 2,638 ETH tokens from the Binance exchange, worth US$9.2 million. However, with the Uniswap token, two withdrawals were made. One of the transfers removed 547,305 UNI from Binance and 439,749 UNI from Gate.io, reaching a total of 987,054 UNI, worth US$10.6 million.
The Ethereum cryptocurrency has seen a drop of 3.4% in the last seven days while the UNI token has appreciated by an impressive 14.8% in the same period.
MicroStrategy seeks to raise $500 million to buy more Bitcoin
In a strategic move that highlights growing confidence in cryptocurrencies, MicroStrategy revealed plans on June 13 to raise $500 million for a new purchase of Bitcoin (BTC).
The amount would come through an offering of convertible senior notes, which also has an option for an additional US$75 million. MicroStrategy is a business intelligence company that is a corporate holder of bitcoin tokens.
In its official statement, the company highlighted that the convertible senior notes, which are subject to market conditions and other factors, will mature in the year 2032. According to MicroStrategy, the issuance of these notes will be in a private offering to qualified institutional investors .
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The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/gigante-de-negociacao-comprando-massivamente-na-queda-investimento-de-us-20-milhoes-em-duas-criptos/
