- A crypto sleuth suggests inflows to the “HL retard” whale’s wallet came through the Avalanche BTC bridge, raising concerns over potential fund manipulation.
- Inflows from Avalanche BTC bridge and FixedFloat have led to suspicions of the whale engaging in market manipulation with possibly illicit funds.
- AVAX’s price shows promising signs of recovery amidst the controversy.
A leading crypto on-chain sleuth has accused the infamous “HL retard” whale of the fund manipulation from the Avalanche BTC bridge. As per the sleuth’s recent analysis, the whale, also known as “2TheMoon,” has reportedly been engaging in deceptive tactics with potentially illicit funds.
The investigator pointed out that inflows to the whale’s wallet came primarily from the AVAX BTC bridge and FixedFloat, raising suspicions about the source of the capital. This revelation raised eyebrows over the whale’s activity, from the crypto community due to its market influence. The sleuth implied that the whale could be using either stolen funds or engaging in market manipulation while baiting short positions.
The post was in direct response to Arkham Intelligence’s earlier report that detailed the whale’s significant losses. According to Arkham, the whale has had more than $120 million in positions liquidated since Bitcoin’s value began to drop from its $66,000 peak. Despite a large market presence, the whale is currently sitting on a negative $13 million profit and loss (PnL) and has already paid out over $2 million in funding fees.
Arkham’s report emphasized the whale’s high-stakes trading habits. Despite the substantial loss, the whale’s aggressive trading behavior continues to influence market trends, with substantial trades often shifting market sentiment. Amidst this controversy, Avalanche, a popular blockchain platform is gaining significant attention in the cryptocurrency market.
Avalanche Rebounces
The token has recently shown strong signs of recovery, with a retest of its breakout level indicating a potential bottom. This positive development has fueled optimism among investors, who anticipate further growth in the coming months.
Many analysts are bullish on Avalanche’s ecosystem due to its various advantages, including its high transaction speed, low fees, and interoperability with other blockchains. These factors have contributed to the token’s increasing popularity and potential for future appreciation.
While the price of Avalanche has experienced fluctuations, the recent retest and positive sentiment suggest that a rally toward the $50.00 range is a realistic possibility within the next few months. Investors who are optimistic about Avalanche’s long-term prospects may consider adding it to their portfolios.
