Experts warned of sales pressure for the altcoin, which has risen 70% in the last month.
cryptocurrency project Illuvium (ILV) In the last month, approximately 70% rose and attracted attention. However, ILV whales, who took advantage of the rise, did not hesitate to take advantage of the opportunity. Transferred by On-chani analysis platform Lookonchain to data according to “luggis.ethA whale wallet named “ 6 November taking action on the day $1.33 million worth 20,000 ILV transferred for sale.
After this process, the ILV price increased approximately in a short time. 13% decrease showing 74 dollars from level for $65 declined.
On the other hand, whale activities were not limited to this wallet. According to on-chain data, another whale wallet was transferred to the cryptocurrency exchange Binance on November 6. $4.37 million worth 65,753 ILV sent and prepared for sale. Still holding the same wallet $4.3 million worth 65,559 ILV is available.
Whales’ transfer of large amounts of tokens to the stock exchanges generally has a negative impact on the prices of projects that have increased so much.
According to CoinGecko data, in the last 24 hours 4.3% ILV losing value at the time of writing from $63 finds buyers.