While the crypto money market was moving with Bitcoin exceeding $ 29 thousand, the leading crypto money whales sold for Cardano and these 5 coins! So, how will this affect prices? Here are the details…
Big Cardano whales are selling their ADAs!
Cardano (ADA) experienced a significant shift in its investor base last month; small investors took the reins, while whales and large investors reduced their positions. According to data from IntoTheBlock, the number of Cardano whales holding between 100 million and 1 billion ADA coins has dropped 25 percent in the last 30 days. Additionally, a decline in the number of large holders was observed in the 10 million to 100 million ADA range, a sign that these investors are making profits during the ongoing rally.
Surprisingly, the number of smaller addresses holding ADA increased by about 2 percent over the same period. This suggests that the current rally is driven primarily by smaller investors entering the market. As a result, Cardano’s price has increased by 17 percent over the past 30 days, demonstrating the strength of retail investors in the cryptocurrency space.
Profit-making behavior among whales and large owners can be interpreted in many ways. On the one hand, this could indicate that investors believe the rally has peaked and are cashing in on their gains before a potential market correction. On the other hand, it could also point to a redistribution of savings in the Cardano ecosystem, with smaller investors taking advantage of the price increase to accumulate more ADA coins.
Cryptocurrency whales are selling these coins!
While the shift in investors can lead to short-term volatility, the growing interest from smaller investors is a positive sign for Cardano’s long-term growth and adoption. As the ecosystem continues to mature and evolve, the influx of new investors can help support network expansion and encourage greater decentralization.
A known Sandbox whale emptied all 409 million SAND and moved it to a new address today. This makes it the most cryptocurrencies moved since the asset’s first week in August 2020.
Other major transactions tracked by Whale Alert include an unknown wallet transferring 72,591 ETH, worth more than $125.5 million, to another unknown wallet. Additionally, a separate unknown whale sent 5,200 Bitcoins worth more than 140.7 million to a different address, and crypto exchange Binance transferred 972 BTC, whose value exceeded $26.3 million, to crypto exchange Coinbase. XRP whales and exchanges have moved the crypto asset in a number of small transactions, including:
- 20,752,375 XRP worth more than $11.1 million transferred from Binance to an unknown wallet.
- 41,140,453 XRP worth more than $21.6 million transferred from Binance to an unknown wallet.
- 20,000,000 XRP worth approximately $10.5 million transferred from an unknown wallet to crypto exchange Bitstamp.
- 22.1 million XRP worth more than $10.5 million transferred from crypto exchange Bitso to an unknown wallet.
- 25,000,000 XRP worth more than $12 million transferred from an unknown wallet to Bitstamp.
A transfer of 350 million DOGE caused a drop in the price!
On the other hand, the data shared by the whale watching platform also includes large Dogecoin transfers. A total of 350 million DOGE has been transferred in the past hours, causing the DOGE price to drop by less than 2 percent. In this $26 million transaction, @DogeWhaleAlert account stated that this transfer took place among the top 20 wallets.
According to @DogeWhaleAlert 11 hours ago a total of 34,285,849 Dogecoins were transferred to Binance wallet with the goal of selling the whale’s memecoin holdings. Many whales are leaving the markets as the markets are shaken by lawsuits. However, Binance saw an acceleration in withdrawals after the lawsuit it was targeted, with the total amount exceeding $2 billion at the beginning of the week.
Investors are withdrawing from Binance!
While large amounts of XRP were withdrawn from Binance, 62 million XRP was removed from the platform on Tuesday, and 152 million XRP was withdrawn in the last 24-hour period. While Binance was accused by the CFTC of violating the laws regarding spot and derivatives trading, Binance allegedly allowed US citizens to trade on its main platform without using Binance US. Binance CEO CZ was also sued by the regulator, as quoted by Kriptokoin.com. The charges include that Changpeng Zhao used private accounts on Binance to transact against his own clients.
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