The giant Whale made purchases exceeding 100 million in Bitcoin and Ethereum using this method! - Coin Bulletin

According to Lookonchain's post, a large whale purchased 54 million dollars worth of Ethereum (ETH) and 56.7 million dollars worth of Bitcoin (BTC) today through the Wintermute OTC service.

In the cryptocurrency market, while over-the-counter (OTC) transactions continue unabated, a massive purchase that took place today caught attention. According to the cryptocurrency analysis platform Lookonchain, an unidentified whale transferred a total of 111.84 million USDC to Wintermute's OTC wallet to purchase a large amount of BTC and ETH.

According to the data, the whale purchased 30,000 ETH for approximately 54.9 million USDC (worth about 54 million dollars) and 600 BTC for approximately 56.94 million USDC (worth about 56.7 million dollars). This large purchase indicates that institutional investors' interest in the market continues.

The advantage of OTC transactions

Over-the-counter (OTC) transactions allow for large volume trades to be executed without impacting the market price. In particular, institutional investors and whales minimize the price slippage (slippage) issue by conducting large cryptocurrency trades using this method.