The cryptocurrency market has been witnessing rapid and exciting developments lately. Binance exchange continues to influence the market with altcoin listings. The last listing decision was made for Axelar (AXL coin). Because, this caused a huge increase in the price of AXL and in an investor’s pocket. At the same time, whales also create activity in the market by making large investments. Here are the details…
Instant rise with AXL coin
cryptokoin.com As we reported, cryptocurrency exchange Binance continues to impress the market with its altcoin listings. While the last listing decision was made for Axelar (AXL), this caused a huge increase in AXL price and an investor’s pocket.
According to the information shared by Lookonchain, an investor earned $ 56,000 in 8 minutes after hearing that Binance would list AXL. The investor bought AXL with $500,000 USDT and sold it 8 minutes later, making a profit of $56,000. AXL is currently trading at $2.03, up 31%, after gaining as much as 80% in the last 24 hours.
SHIB whales take action
Whale activity also attracts attention on Binance. According to Lookonchain’s data, a whale deposited $5.76 million worth of SHIB to Binance from 5 different wallets in the last 11 hours. The whale is known to have purchased these SHIBs for $3.24 million between November and December last year. It is expected to make a profit of $2.5 million from this investment.
DWF Labs made a profit with its SPELL investment
It is known that DWF Labs deposited 150 million SPELL (approximately $250,000) to Binance on March 1. On-chain data proves that the company still holds 170 million SPELLs (approximately $216,000). It is also stated that he made a profit from this investment.
As a result, the cryptocurrency market is becoming more exciting every day. The 8-minute gain and whale activity on Binance is critical. Because this shows how fast and profitable the market can be. However, investors should analyze the market well before making such investments. It is also important that they consider the risks.
It should not be forgotten that the cryptocurrency market is a high-risk investment tool. Investors should not invest all their assets in a single cryptocurrency or asset. You should also always implement a risk management plan. The cryptocurrency market will continue to grow and develop in the future. Therefore, investors will continue to follow this market and evaluate investment opportunities.
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