Giant Whale Purchases BLUR and DYDX for Millions of Dollars Through OTC

On April 17th, according to Twitter user ember monitoring, the giant whale that previously purchased BLUR and DYDX through OTC spent another 682133 USDC to purchase 1 million BLURs from Amber Group. Currently, the address has purchased 1.4 million DYDXs (with an average cost of $2.57) and 5.5 million BLURs (with an average cost of $0.66).

Previously, the giant whale that purchased BLUR and DYDX through OTC bought another 1 million BLURs

If you are active in the cryptocurrency market, you might have come across Twitter user ember monitoring’s tweet about a giant whale, that had previously purchased BLUR and DYDX through OTC, spending another 682133 USDC to purchase 1 million BLURs from Amber Group on April 17th. As per the tweet, the address has purchased 1.4 million DYDXs (with an average cost of $2.57) and 5.5 million BLURs (with an average cost of $0.66). In this article, we will take a closer look at this whale’s considerable investment in BLUR and DYDX.

What is BLUR and DYDX?

Before we dive deeper into the whale’s investment, let’s understand what BLUR and DYDX are.
BLUR is a privacy-focused digital asset that runs on the Ethereum blockchain. It is non-collateralized and has a circulating supply of 100,000,000 BLUR. As per CoinMarketCap, BLUR is currently ranked 807th in the cryptocurrency market with a market cap of $56,797,411 USD.
On the other hand, DYDX is a decentralized perpetual contract trading platform with a focus on margin trading. Its platform operates on the Ethereum blockchain and is transparent, enabling instant and low-cost trades. DYDX uses its native token, DYDX, as its settlement currency. As per CoinMarketCap, DYDX is currently ranked 61st in the cryptocurrency market with a market cap of $1,670,995,205 USD.

Whale’s Investment in BLUR and DYDX

According to the tweet by ember monitoring, the giant whale purchased 1 million BLURs from Amber Group, spending 682133 USDC, on April 17th. Apart from that, the address also bought 1.4 million DYDXs (with an average cost of $2.57) and 5.5 million BLURs (with an average cost of $0.66) through OTC previously. The whale’s considerable investment in BLUR and DYDX has caught the attention of many crypto enthusiasts in the market.

Why Did The Whale Invest in BLUR and DYDX?

It is unclear why the whale chose to invest such a considerable amount in BLUR and DYDX. However, we can speculate based on the recent developments surrounding both projects.
BLUR launched its mainnet on March 23, 2021, and has been introducing several new features to the privacy-focused digital asset, including the ability to stake BLUR and receive rewards. Additionally, the team behind BLUR has partnered with several companies and has made multiple listings on different cryptocurrency exchanges, indicating a promising future for the project.
DYDX, on the other hand, recently raised $65 million in its Series C funding round. This investment round was led by Paradigm, Three Arrows Capital, and Andreessen Horowitz, with participation from other funds such as Polychain Capital and QCP Capital. The funds raised will enable DYDX to accelerate its development roadmap and expand its team, influencing its growth and adoption.

Conclusion

In conclusion, the giant whale’s considerable investment in BLUR and DYDX has caused a stir in the cryptocurrency market. While it is unclear why the whale chose to invest such a considerable amount, we can speculate that recent developments surrounding both projects could have influenced the investment decision. With BLUR introducing several new features and partnerships and DYDX raising $65 million in funding, both projects might have a bright future ahead.

FAQs

1. What is BLUR?
BLUR is a privacy-focused digital asset that runs on the Ethereum blockchain. It is non-collateralized and has a circulating supply of 100,000,000 BLUR.
2. What is DYDX?
DYDX is a decentralized perpetual contract trading platform with a focus on margin trading. Its platform operates on the Ethereum blockchain and is transparent, enabling instant and low-cost trades.
3. Why did the giant whale invest in BLUR and DYDX?
It is unclear why the giant whale chose to invest such a considerable amount in BLUR and DYDX. However, recent developments surrounding both projects could have influenced the investment decision.