Two big whales, 0xdf8 and 0x9eb, have swapped all of their 11.96M FTM ($12.88M) for 4.24M FET ($12.86M) in the past 4 hours:

1. Whale 0xdf8 ("Thetafuel") swapped 7.672M FTM ($8.32M) for 2.739M FET ($8.30M) at average prices of $1.084 and $3.031:

• address: 0xdf89a69a6a6d3df7d823076e0124a222538c5133

• Check out Whale 0xdf8's FTM and FET visualizer here

Notably:

• The whale swapped FTM for FET through both ETH and directly.
• The whale allegedly bought a total of 7.712M FTM via Gemini and DEX at $0.588 on average (estimated cost: $4.53M) between November 21, 2023, and March 8, 2024, and then sold them all for $8.34M in ETH and AGIX at $1.081 on average on February 18 and March 27, 2024.
• This suggested the whale earned a profit of $3.803M (+83.9%) from FTM based on the buying and selling prices.
• Before this FET purchase, the whale had realized a cumulative profit of $2.18M (+57.1%) from previous FET trades.

Fig 1.1. Whale 0xdf8 ("Thetafuel")'s overall FTM trading history.

Fig 1.2. Whale 0xdf8 ("Thetafuel")'s overall FET trading history.

2. Whale 0x9eb swapped 4.284M FTM ($4.56M) for 1.504M FET ($4.55M) at average prices of $1.065 and $3.028, respectively:

• address: 0x9eb309308f19be57ff2a818471103288ba6a29f5

• Check out Whale 0x9eb's FTM and FET visualizer here

Notably:

• The whale swapped the FTM tokens for 1,274 ETH first, and then quickly swapped the ETH for FET.
• The whale bought those 4.284M FTM tokens with 902 ETH at $0.853 on average ($3.65M) on March 11, 2024, and then sold them all for 1,274 ETH at $1.065 on average ($4.56M) on March 27, 2024 (16 days later).
• This suggested the whale earned a profit of 372 ETH (~$1.32M) (+41.2%) from FTM.
• This is the first FET purchase by the whale.

Fig 2.1. Whale 0x9eb's overall FTM trading history.

Fig 2.2. Whale 0x9eb's overall FET trading history.

The FET pumped by nearly 13% in the past 24 hours, while the FTM price is being corrected from the 20% increase after Fantom Foundation launched Sonic yesterday.