The cryptocurrency market offers an environment of constant fluctuation and change. In this dynamic environment, investors follow the footsteps of smart money to profit. According to Nansen data dated March 24, 2024, smart money investments in the Ethereum network paint a remarkable picture. Investments in MATIC coin and CELL and the decline in AMPL give important clues about investors’ preferences.
Smart money on the move: MATIC coin and it’s flowing into these 2
The cryptocurrency market is constantly on the move, and investors are following the smart money to understand where they can profit. According to Nansen’s data dated March 24, 24-hour fund inflows on the Ethereum network from large investors, known as smart money, are listed as follows:
- MATIC: With fund inflows of approximately $6.33 million, MATIC is currently trading at $0.9968. It gained 1.1% in value in the last 24 hours.
- CELL: CELL, which received a fund inflow of approximately $2.59 million, is currently trading at $2,017.96. In the last 24 hours, it achieved an impressive increase and gained 8.36% in value.
- AMPL: AMPL, which received an investment of approximately $140,000 by smart money, is traded at $7,203. It lost 2.28% value in the last 24 hours.
This data gives clues as to which projects the smart money is currently interested in on the Ethereum network. Continued investments in MATIC may indicate continued popularity and adoption of the Polygon network. The smart money inflow that comes with the recent strong rise in CELL may suggest that investors’ interest in this project has increased. The decline in AMPL may indicate that investors are cautious in this period.
Details of the projects
MATIC is the native token of the Polygon network, providing secure and scalable transactions. The recent rise can be attributed to investors turning to the Polygon network to avoid high transaction fees on the Ethereum network. CELL became a utility token for the Cellframe network. Cellframe Network is a scalable, open-source, next-generation platform for building and bridging blockchains and services secured by post-quantum encryption.
The reasons for the recent rise are not yet fully clear. However, it may be linked to increased investor interest in the services offered by the Cellframe network. Finally, AMPL is an algorithmic stablecoin whose supply fluctuates. Although its price is intended to be fixed to the US dollar, its price occasionally deviates from stability due to fluctuations in its supply. This may have caused investors to withdraw from AMPL recently. In conclusion, Nansen data shows that smart money is looking for investment opportunities in the Ethereum network. Investments in MATIC and CELL demonstrate that these projects continue to attract interest among investors.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.