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According to recent on-chain data, whales have started to accumulate Ethereum and Bitcoin in recent months, and it is also reported that some investors are examining KangaMoon, whose new project future is uncertain.
Whales Accumulating Ethereum (ETH) Since February
Ethereum (ETH) has experienced a notable increase in both demand and value over the past month, with its price reaching a one-month high of $2,687. Additionally, there has been an increase in whale activity. According to Lookonchain data, an Ethereum whale has been purchasing Ethereum since February.
This whale took out a loan on the Spark platform, which allows the borrower to withdraw, repay and re-access funds cyclically within a specified time period.
Analysis of Lookonchain, further explained that this whale has transferred 39,900 ETH since the beginning of February. At the same time, the whale obtained 56.8 million DAI through a loan from Spark.
It seems that the whale’s plan is to borrow money and buy Ethereum when the price of Ethereum is low, and sell it to pay off the debt when the price of Ethereum rises. The altcoin traded between $2,339.42 and $2,683.63 last week.
Bitcoin (BTC) Whales Accumulate 140,000 BTC
Whales have begun to show great interest in Bitcoin (BTC) as well as Ethereum. Cryptocurrency researcher Ali according toBitcoin whales have accumulated 140,000 BTC in the last three weeks.
The increasing ownership of these whales shows their optimistic view about Bitcoin’s future prospects. These whales appear to be taking advantage of recent price declines to increase their Bitcoin holdings in anticipation of a price increase.
Additionally, the Bitcoin price has been in a bull market throughout the past month. The largest cryptocurrency by market cap rose from a monthly low of $38,521.89 to a high of $50,358.39. Surprisingly, $51,358.39 is the highest price in the last two years. This massive rally has revived investors’ hope in the crypto market.
Whales Show Interest in KangaMoon (KANG) Presale
According to the sponsored content poster, some crypto lovers have been gathering information about the future and team of the project, whose KangaMoon (KANG) pre-sale was ongoing last week. Before its launch, it is wondered whether KANG will be successful.
The DeFi project on the ICO list is claimed to combine Social-Fi with play-to-play (P2E) gaming elements. On this platform, users can create characters and win prizes through contests. It is not certain, the project may also fail.
KANG, the native meme coin, serves as an important tool to enable participation in various activities in the KangaMoon ecosystem, such as betting on battles and unlocking challenges. Those who complete challenges receive additional tokens and in-game items.
These items can be traded on KangaMoon’s upcoming marketplace, adding a financial edge to the platform. KangaMoon’s approach distinguishes it as a DeFi project that transforms assets into assets with real use value. Currently, KANG tokens are available at $0.005 in the first phase of pre-sale. However, the future of the project is uncertain, and taking action without obtaining detailed information about the team and the project is risky.
Conclusion
Whales’ interest in Bitcoin and Ethereum shows that they have high expectations for the future prices of these currencies. It is wondered whether the new project KangaMoon will be successful.
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*This article is not investment advice! This is sponsored (advertising) content. Cryptocurrency investments are high-risk investments and there is a risk of investment loss. Do your detailed research before investing!
