Inside the $24 Million DeFi Transfers to Binance: Profits & Losses Revealed

Two major cryptocurrency investors have just made some big moves, shifting over $24 million in DeFi tokens to Binance Binance - binance@miceneurol.com Centralised ExchangeCryptocurrenciesTrading AppCryptocurrency investment . But here’s where it gets interesting: while one investor walked away with massive profits, the other is facing heavy losses.

How did these two very different outcomes unfold? Let’s dive into the details.

Whale “0x257” Makes Big Profits

Data from Spot on Chain shows that a well-known whale, identified as “0x257,” transferred nearly $7.96 million in DeFi tokens to Binance. These included AAVE, LINK, and UNI—three popular DeFi assets. The whale deposited:

• 13,816 AAVE tokens ($3.54M)
• 161,463 LINK tokens ($3.13M)
• 85,529 UNI tokens ($758K)

The results have been very profitable for the whale. They made 255% profit from AAVE, 213% from LINK, and 52% from UNI. Additionally, the whale earned from a $523K EIGEN deposit.

Interestingly, this whale had been holding AAVE, LINK, and UNI since mid-2022, showing they’ve been patient with their investments.

BlockTower Capital’s $16.78M DeFi Loss

On the other hand, BlockTower Capital, another crypto investor, moved over $16.78 million in DeFi tokens to Binance but faced a net loss of $2.94 million.

The tokens involved in this move included UNI, LINK, MKR, and ENA, with the following deposits:

• 532,754 UNI tokens ($5.33M)
• 197,451 LINK tokens ($4.29M)
• 3,862 MKR tokens ($3.77M)
• 5.153M ENA tokens ($3.39M)

While UNI saw a 12% gain, the other tokens didn’t perform as well: MKR lost 31%, and ENA dropped 29%.

Interestingly, BlockTower Capital still holds 20,314 AAVE tokens ($5.47M) and 1,713 ETH tokens ($4.84M), which could offer a chance for recovery.

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DeFi Market General Overview

The DeFi market has seen some ups and downs recently. Over the past 24 hours, the DeFi segment fell by 4.7%. In the last week, major DeFi tokens like STETH (-12.5%), LINK (-16.6%), UNI (-21.7%), and AAVE (-9.1%) experienced losses.

However, in a surprising turn, several top DeFi tokens have shown strong performance over the past 24 hours. Tokens like STETH (+2.4%), AAVE (+7.8%), and UNI (+2.2%) have bounced back, suggesting a possible market recovery

These recent movements highlight the differences in outcomes for major DeFi investors. Whale “0x257” secured large profits, while BlockTower Capital faced significant losses. Despite a weak week for DeFi tokens, the past 24 hours have shown signs of recovery, with many key tokens seeing a boost.

The DeFi market remains unpredictable, but for those who can navigate its volatility, there’s still potential for big rewards.