According to data from Nansen, smart money investors have invested significantly in altcoins such as 1INCH coin and ZENT on the Ethereum network in the last 24 hours. 1INCH received $3.2 million and ZENT received $1.31 million. Here are the details…
Smart money entry into 1inch coin and other cryptos
These investments may be indicative of a recent upward trend in the altcoin market. In the last week, 1INCH gained 4% in value, reaching up to $0.43. ZENT, on the other hand, gained more than 20% and reached $0.036. Contrary to these investments, Alameda Research, which is affiliated with the bankrupt cryptocurrency exchange FTX, is said to be planning to sell its holdings of 1INCH tokens. According to information provided by Lookonchain, Alameda Research sent 7.44 million 1INCH worth $3.2 million to the address of algorithmic trading firm Wintermute at night.
This move by Alameda could cause prices to drop. Alameda plans to make a profit by launching 1INCH through Wintermute. Here is the full list of Nansen’s 24-hour smart money inflow on the Ethereum network:
The interest of smart money investors in altcoins such as 1INCH and ZENT may lead to an increase in the prices of these tokens. However, Alameda Research’s 1INCH sales plan may prevent this increase. It is important for investors to follow the market carefully and do their own research before investing in these tokens.
What does smart money entry mean?
Smart money inflow means that experienced and knowledgeable investors invest in a particular cryptocurrency or asset. These investors typically do extensive research and carefully evaluate their investments for risk and return. Therefore, smart coin inflow is considered a positive indicator about the future of a cryptocurrency or asset. Smart money introduction can have several important effects:
- Price Increase: Smart money inflow can trigger an upward movement in the price of a cryptocurrency or asset, increasing investor demand and enthusiasm. This attracts more investors and may further accelerate the price increase.
- Increased Volume: Smart money inflow can also lead to an increase in the trading volume of the cryptocurrency or asset. This indicates increased investor interest and increased liquidity.
- Greater Confidence: When smart money investors invest in a cryptocurrency or asset, it shows their belief in the potential and future of that project. This can help bring more investors into the project and increase overall confidence.
To be informed about the latest developments, follow us Twitter’in, Facebookin and InstagramFollow on . Telegram And YouTube Join our channel.