Binance, the world’s largest cryptocurrency exchange in terms of daily trading volume, is also on the agenda with its Blockchain called BNB Chain. Specifically, the coins traded by whales in this network and their savings are shared by the whale watching platform called WhaleStats. According to the latest data, these whales focused mostly on the 4 altcoins. Here are the details…
What are the next prey of Binance whales?
A recent tweet by “WhaleStatsBSC” says that Dogecoin has re-entered the list of top 10 most actively purchased cryptocurrencies among the top 500 wallets on Binance Smart Chain (BSC, also known as BNB Chain). Dogecoin is now on this list, along with other popular altcoins, XRP, Filecoin (FIL) and Terra (LUNA) that are “wrapped” on the BNB Chain. According to WhaleStats, XRP is currently the most traded crypto by the largest BSC whales, and ETH is the most widely held crypto.
It is worth noting that most altcoins are “wrapped” as this network uses the BEP20 token standard. cryptocoin.com As we have also reported, a wrapped token is a tokenized version of another cryptocurrency. It is fixed to the value of the asset it represents and can usually be cashed (i.e. unwrapped) at any point. It usually represents an asset that does not exist locally on the Blockchain on which it is published.
You can think of a wrapped token as similar to a stablecoin in that it derives its value from another asset. When it comes to stablecoin, the asset behind the coin is usually fiat currency. In the case of a wrapped token, it is an asset, usually located locally on another blockchain. Because blockchains are different systems, there is no good way to move information between them. Wrapped tokens increase interoperability between different Blockchains.
DOGE grew on a weekly basis
Meanwhile, the meme coin has shown significant growth over the past 24 hours. Since January 8, it has increased by 9.10 percent to reach the level of $ 0.0783. However, it has had a slight pullback so far and DOGE is currently changing hands at $0.0771. Although it has increased by 9.3 percent in the last 7 days, it seems to have gained 0.5 percent in the last 24 hours. On the other hand, XRP, another cryptocurrency in the focus of whales, has risen 4.2 percent in the last 24 hours. Filecoin, on the other hand, has increased by nearly 20% in the last 7 days, although it has dropped 2% in the last 24 hours.
Meanwhile, as we reported earlier, DOGE continues to stand out in terms of use case. Over the weekend, popular cryptocurrency payment processor BitPay revealed that Dogecoin is the fourth most popular crypto asset among platform users after Bitcoin (BTC), Ethereum (ETH) and Bitcoin Cash (BCH).
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