Crypto even According to onchain data provided by analytics firm Lookonchain, a cryptocurrency wallet affiliated with Longling Capital, a China-affiliated fund, made a massive Ethereum purchase of 5,000 ETH today.
Longling Capital is known as the cryptocurrency fund of Cai Wensheng, the founder of China’s Meitu company.
According to the data, there are currently 68,064 ETH worth approximately 168 million in the cryptocurrency wallet in question. In addition, $44 million worth of USDT borrowed from the decentralized cryptocurrency wallet Aave is also in this cryptocurrency wallet.
Interestingly, when historical data is examined, we see that Longling Capital, with which this Chinese company is affiliated, has undergone a major liquidation in 2022. Data shows that the size of this liquidation was 93,793 ETH, worth approximately $114 million at the time.
Meitu is known as an artificial intelligence-focused company, operating especially in China. The company has a photo editing application with the same name.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/cinli-dev-sirket-yeni-altcoin-satin-alimi-yapti-2022-yilinda-tamamen-likidasyona-ugramisti/
