The cryptocurrency market witnessed intense activity today, April 10, with whales making their presence felt in various tokens. While some cryptocurrencies such as Pendle (PENDLE) experienced significant price increases, others such as XRP (XRP) continued to be shrouded in volatility. Shiba Inu (SHIB coin) also made headlines with a mysterious whale transaction.
PENDLE came to the fore with its whale transactions
Pendle, a relatively new DeFi project, attracted attention with increasing interest from investors. The increase in its price by approximately 5% attracted the attention of both experienced traders and newcomers. This increase coincides with increased whale activity surrounding PENDLE. On-chain data reveals that whales have accumulated a significant amount of tokens on major exchanges such as Binance, indicating a bullish outlook. This trend is consistent with Pendle’s increasing Total Value Locked (TVL) of approximately $5 billion, indicating increased investor confidence. Lookonchain reported that major wallet addresses are actively accumulating PENDLE, potentially triggering a price increase.
Change in XRP price and coin movements
XRP, the token backed by Ripple Labs, experienced a highly volatile 24-hour period. While its price fluctuated significantly, whales made their mark by making a massive transfer of 55.87 million XRP in two transactions. This move led to speculation that investor sentiment was mixed; some whales accumulated while others appeared to unload their holdings. Despite the 1.21% price decline, Coinglass data revealed a potential bullish trend for XRP with an increase in open interest and derivative volume.
This optimism is in line with tentative signs of recovery in the broader crypto market and will potentially push XRP’s price upwards in the coming days. Interestingly, despite the volatility, some market participants remain optimistic that XRP will reach $1 this month, adding to the intrigue surrounding the token.
SHIB coin and ENA are being transferred
Meme coin Shiba Inu made headlines when a whale deposited 692.4 billion SHIB tokens on Crypto.com. This massive transaction, valued at more than $19 million, has sparked discussions about a potential price increase. However, further analysis suggests that this may be an internal transfer within Crypto.com. The characteristics of the target wallet point to institutional use, potentially tied to the exchange itself. While the price is struggling near $0.00002830, the significant trading volume increase of 18% in the last 24 hours indicates a possible shift in market dynamics for SHIB.
Separately, on-chain monitoring by @ai_9684xtpa revealed that 8.43 million ENA tokens worth approximately $10.3 million were transferred from the Ethena Labs project to two Wintermute addresses. While the specific purpose of this transaction remains unclear, it highlights ongoing activity in the DeFi ecosystem and the involvement of major players such as Wintermute.
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