The cryptocurrency market has been going through active days lately. While Bitcoin is hovering above $70,000, a positive atmosphere prevails in Ethereum and other altcoins. This positive atmosphere is marked by the increasing interest of whales (big investors). Here are the whale movements for SHIB coin, Cardano, JASMY and XRP…
Santiment drew attention to the movements of cryptocurrency whales
In a post by Santiment, it was stated that there was a significant increase in whale movements in cryptocurrencies such as Cardano (ADA), Shiba Inu (SHIB coin) and Jasmy (JASMY). Interest in these three cryptocurrencies is typically measured by looking at the increase in the number of transactions over $100,000. According to the latest data, transactions of $100,000 and above on these three networks have more than doubled the 2024 average. This indicates that whales have started to accumulate these cryptocurrencies.
What is the situation for XRP?
On the XRP front, the situation is a little different. XRP managed to stay above the $0.52 level in the last 24 hours. However, the increase in whale activity is attracting the attention of investors. According to data provided by on-chain transaction tracker called Whale Alert, whales collectively moved 218.06 million XRP tokens in 24 hours. Within this activity, two whales were detected who received a total of 50.25 million XRP from Binance. Other whales transferred a significant amount of XRP to different decentralized exchanges (CEX). Data shows that 167.81 million XRP was moved to exchanges such as Bitstamp, Bitso and Coinbase. These sales undermined the previous day’s accumulation.
However, it is known that whales who purchased the XRP token from Binance have made similar savings in the past. This indicates increased confidence in XRP’s potential to gain value in the future. Although the XRP price is currently under pressure, recent whale activity and XRP ETF rumors are sparking speculation in the market.
There is great activity for SHIB coin
The SHIB front has been very active lately. Blockchain analysis platform Lookonchain found that nine different wallets purchased 1.356 trillion SHIB tokens, worth a total of $35.2 million. The average price of these investments was recorded as 0.00002596 dollars. More than half of the purchases came from two separate wallets. Each of these two wallets purchased 300 billion SHIB, making a total investment of 675 billion.
An investor who previously earned $145 million from his SHIB investment returned to the market after two years. This investor exchanged 4,849 WETH (approximately $18.5 million) for 715.8 billion SHIB in five hours. This move shows that experienced investors have increased confidence in SHIB and could attract more investors to the market.
As a result, whales’ interest in the cryptocurrency market has been increasing in recent days. This interest affects the price movements seen in cryptocurrencies such as XRP, SHIB and Cardano. It is important for investors to follow this movement closely and shape their own investment decisions in this direction. However, it should not be forgotten that the cryptocurrency market is highly variable and always carries risks. Before investing, you should definitely do your own research and choose investments whose risk is suitable for you.
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