An action by the TRB whale attracted attention in the cryptocurrency world. Since this whale collected a huge profit, it turned its direction to new altcoins. This situation once again reveals the colorful and vibrant aspect of the cryptocurrency world.
Data highlights TRB whale’s movements
Data from on-chain analysis platform Lookonchain points to an interesting movement of the TRB whale on October 25. Accordingly, it reveals that this address purchased 560,958 altcoin LQTY tokens worth $ 1.2 million and 831,510 FTT tokens worth $ 1.07 million through the Binance exchange.
The same address had purchased 92,610 TRB tokens worth $10.6 million in the last seven days. This shows that it has already made a significant investment in TRB. As a result, the address in question became one of the leading holders of TRB, a token that has increased in value 12-fold since August 25.
What do you have in your hand right now?
The address currently holds 92,610 TRB tokens worth $10.6 million. Additionally, he holds 5.2 million ZRX tokens worth $1.2 million. On the other hand, there are also 831,510 FTT tokens worth $1.07 million. He also has a significant portfolio containing 560,958 LQTY tokens worth approximately $1 million.
Market experts note the renewed interest in FTT. Accordingly, he attributes this situation to signs of recovery from the struggling cryptocurrency exchange FTX. Recent statements from FTX suggest that up to 90% of creditors’ funds could be repaid by the second quarter of 2024. If FTX recovers successfully, the situation will get interesting. Accordingly, FTT, which has experienced a significant decline from the $20 range to $1, is expected to respond positively.
Whale’s purchases affected the price
These recent purchases by the TRB whale have had a noticeable impact on LQTY and FTT prices. LQTY rose as high as $2.20 in response to these purchases. Afterwards, the price decreased. At the time of writing, it is at $1.71.
The FTT received by the TRB whale also showed a similar upward trend. Accordingly, it rose to $1.40. When we look at Kriptokoin.com, it is at $ 1.31 while writing the article. Let us state once again that whale movements are very important in the cryptocurrency world. Activities in cryptocurrency exchanges are directly reflected in the price.
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