Smart money, controlled by financial experts, is now quickly assessing market trends such as FET and GMX, according to on-chain reports. Investments and purchased altcoins in this area in recent days are as follows:
Fetch.AI (FET) receives $40 million investment
On March 29, market maker and investment firm DWF Labs invested $40 million in Fetch.ai (FET), an intelligence-driven crypto protocol. Fetch.ai plans to use the investment for decentralized machine learning and network infrastructure. cryptocoin.com We have included the details of the investment in this article. According to on-chain data, trading companies like Jane Street and other altcoins that have been on the whales’ radar recently were…
Which altcoin projects does smart money prefer?
According to Lookonchain’s report, crypto whales and smart money decentralized exchange are hoarding the native token of GMX. The analytics platform reported that three major investors have purchased a total of 69,919 GMXs, in their analysis on Tuesday.
The estimated total value of these purchases exceeded $5 million. One of the whales had previously purchased 14,117 GMX. The first buyer bought more than 52,000 GMXs. The second largest GMX buyer bought 14,766 GMX. The third investor raised 2,993 GMX while the GMX price was trading at $67.
Lookonchain also noted in February that BitMEX founder Arthur Hayes purchased hundreds of thousands of GMXs last year, making more than $8 million in profits at the time. The analysis states that as a general behavior, whales follow a pattern of buying GMX low and selling it higher:
A smart coin that always buys GMX at a low price and sells it at a high price, today bought 2,993 GMX for $67 at 200,000 USDC.
Santiment reports that retail investors’ ETH hodl rate has peaked
The leading crypto analytics firm has found that traders are HODLing Ethereum (ETH) at record levels in their own wallets. Santiment reports that the amount that traders keep in their wallets by withdrawing ETH from exchanges has reached an eight-month high, saying it “reflects the confidence of HODLers”:
Ethereum is being kept away from exchanges and under its own watch, at its highest level since the week the token was launched nearly 8 years ago. This all-time low rate of ETH on exchanges (10.31%) shows the confidence of stockists.
Ripple (XRP)
Santiment also reported that XRP’s social dominance has reached its highest level since early November after Sunday and Monday’s price increase. cryptocoin.com As we have reported, XRP is setting a record transaction volume on South Korea’s largest exchanges. Santiment’s comments on this subject are as follows:
XRP’s social dominance is at a one-year high after surging above $0.49 for the first time since Nov. Increased social volume means increased trading volume and more volatile price fluctuations caused by mainstream interest.
Additionally, Santiment reported that cross-chain exchange Stargate Finance V1 (STG) network growth on its Ethereum scaling solution Arbitrum (ARB) hit ATH on Sunday:
Stargate’s network growth on Arbitrum managed to hit an all-time high yesterday despite a -51% price correction since its peak on February 18.
At the time of writing, Bitcoin price was trading above $28,000 on the upside momentum it gained yesterday. The altcoin market is also accompanying the momentum with gains below 3%.
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