At a time when the world banking industry is in crisis, Binance whales are evaluating falling cryptocurrency prices. In the last 24 hours, these 7 altcoins, especially XRP, have been purchased at most.
XRP on top 10 bought list among Binance whales
WhaleStats (@WhaleStatsBSC) tweeted this morning that Ripple (XRP) has made it into the top 10 purchased list among the largest Binance Smart Chain (BSC) whales in the last 24 hours.
At the time of writing, the price of XRP is up 0.15% in the last 24 hours. However, the weekly price performance remains in the red at -3.5%.
According to the tweet, other cryptocurrencies bought among Binance whales are:
- Cardano (ADA)
- Floki Inu (FLOKI)
- Dogecoin (DOGE)
- Chainlink (LINK)
- Terra (Luna)
Whales assess price drop
USD Coin (USDC) has lost its dollar peg on some exchanges amid concerns that reserves backing the second-largest stablecoin by market cap are stuck at the bankrupt Silicon Valley Bank (SVB). Bitcoin rallied as high as $20,000 as the second-largest stablecoin surged. The cryptocurrency market had lost critical support levels with Silvergate announcing its bankruptcy prior to SVB.
Circle, the company that manages the popular stablecoin, has announced that $3.3 billion of its $40 billion USDC reserves remain locked in the SVB. Thus, a large FUD was triggered among key investors about the state of their reserves. cryptocoin.com As we reported, some whales consider the USDC drop as an opportunity.
In this environment, on-chain analytics platform Lookonchain found that a whale Lido DAO (LDO) had been partially replaced by Frax Share (FXS) before the crypto market took the plunge.
Whale sold loads of LDOs prior to fall
Whale first bought 1.48 million LDO at a price of $2.66 with $3.93 million USDT on Markch5. After that, he decided to trade approximately 431,824 LDOs for 119,931 FXS for approximately $1 million before the price of LDO dropped.
Data from CoinMarketCap shows that FXS price is currently trading at $7.13 after a 20.85% price drop on the day. Whale may have seen this drop in price as an excellent buying opportunity to fill his vault with more FXS. In addition, FXS is still down over 33% from last week.
Lido (LDO) continues to melt
LDO is also in the red, despite the relief the top 10 cryptos are experiencing. LDO is trading at around $2.12 after a 3.5% price drop from the last day. The altcoin also fell as low as $2.38 and $2.09 in the same time frame.
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