Cryptocurrency trader @ali_charts in a tweet dYdX He shared the reasons for the rise forecast for The trader detailed his analysis by stating that market sentiment is bearish. However, reminding investors’ search for “overlooked” assets, Ali stated that traders follow negative sentiments.
trader, crypto- He also underlined that whales have purchased more than 10 million DYDX tokens in the last 2 weeks alone. The total US dollar value of the tokens purchased by these whales is estimated to be around $24 million. According to Ali, this is a sign that the big players in the crypto space are seeing potential in the altcoin despite the bearish trend.
Lastly, the tweet states that around 7.86 million DYDX has been withdrawn from known crypto exchange wallets in the past 3 weeks. As a result, the number of tokens that can be sold is also decreasing.
At the time of writing, dYdX is trading at $2.84, up 4.33% in the last 24 hours, setting a high of $2.94 in the last 24 hours. The volume stands at $147,083,767 with a market cap of $443,761,582. Volume has increased by over 68% in the last 24 hours, while market cap has increased by 4.42%.
You can follow the current price action here.