In the cryptocurrency world, data is a valuable asset and can often provide insight into market trends and investor sentiment. According to data from Nansen 2, a leading cryptocurrency data provider, smart money’s 24-hour capital inflow monitoring list on the Ethereum network revealed significant movements in various altcoin projects.
Leading altcoin Ethereum saw large capital inflows
Ethereum (ETH), the second largest cryptocurrency by market cap, has seen significant capital inflows in the last 24 hours. Approximately $15.3 million flowed into ETH, reaching its current price of approximately $1,784.73. This influx represents a 0.44% increase in value and demonstrates continued investor confidence in Ethereum. On the other hand, Wrapped Bitcoin (WBTC), a token representing Bitcoin on the Ethereum chain, also experienced a significant rise. Approximately $5.5 million entered the WBTC market. The price of the token then rose to $34,313.96, currently up 0.79 percent.
Additionally, Shiba Inu (SHIB), a meme coin inspired by the popular Dogecoin, attracted approximately $380,000 in capital. SHIB is currently trading at $0.00000792 and has recorded an increase of 0.89 percent in the last 24 hours. Chainlink (LINK), a decentralized oracle network, witnessed an impressive capital inflow of around $340,000. This influx pushed LINK’s price to $11,006, marking a 1.00% 24-hour increase. C98 (C98), a lesser-known cryptocurrency, managed to attract around $180,000 in capital. C98, whose current price is $0.1799, showed a significant 24-hour increase of 6.01 percent, indicating increased interest in this asset.
Whale moves attracted attention
In a parallel but separate development above, on October 30, a Smart Whale address deposited a significant deposit of 394,700 LINK to Coinbase. This significant deposit is estimated to be worth approximately $4.35 million. The fact that this address purchased LINK two months ago at an average price of $6.13 underlines this whale’s smart investment choices. The cryptocurrency market continues to be a hotbed of activity.
These capital inflow movements show that investors are actively participating in the market. While Ethereum is leading the way, other tokens such as WBTC, SHIB, LINK, and C98 are also making strides, demonstrating the dynamic and ever-evolving nature of the crypto space. As always, investors should conduct thorough research before entering the cryptocurrency market. One should also consider their risk tolerance. Because this market can be quite volatile.
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