Recently, whales seem to be quite active, especially for two altcoin projects. Judging by the blockchain data, whales with assets in the Quant (QNT) and Polygon (MATIC) projects move their coins to exchanges. Although it is not known for sure, the fact that investors move their coins to the stock market may indicate that they are preparing for a sale. Here are the details…
MATIC whales move coins to Binance
MATIC’s price performance since the beginning of the year has been quite strong as it has gained considerable value thanks to significant purchasing power from whales and large investors. Meanwhile, another major transaction occurred recently when an anonymous whale moved nearly $8 million in tokens to Binance. As the data show, the whale is constantly accumulating MATIC. He bought a total of 153 million MATICs to his address, and the average purchase price was $1.16. So if the whale sells, it will have made sure of its loss. For cryptocoin.com According to data, the current price of MATIC is $0.86.
At this time, it is unclear whether the whale’s transaction with Binance was for sale. However, unless the investor decides to add some funds to his current position, it is unlikely that there will be any other reason. This whale had previously obtained coins from exchanges and staking with a total of 153.4 million MATIC. From a price point of view, MATIC has not moved downwards despite potentially high selling pressure. Over the past few days, MATIC has moved in line with the rest of the market, adding 13 percent to its value.
Whale activity on the rise for popular altcoin Quant
According to a report by Santiment, Quant (QNT) recorded the largest whale transactions in the last 16 months. The analytics platform noted that 187 QNT transactions were processed today, resulting in over $100,000, the highest value Quant Network has recorded since September 2021. A little over a week ago, Santiment reported some whale activity on Quant Network that caused the value of the QNT token to increase by 10 percent. However, unlike then, the increase in whale transactions today has not yet had a positive impact.
Currently, Quant is changing hands at $117, up 4.1 percent. The cryptocurrency managed to become the 31st largest altcoin with a valuation of $1.7 billion. Although the price of the token fell 40 percent compared to the previous year, Santiment tweeted that during the same period, the total supply of QNT on exchanges decreased by 23.4 percent. This indicates that the coin is experiencing increased demand in 2022.
Bullish prospects for Quant
According to Bitnation’s price predictions, QNT could trade as high as $203.07 in 2023, which is an 80.17 percent increase from the current market price. Another popular crypto forecasting site, Coincodex, also paints a positive outlook for the QNT token. According to the 2023 price predictions for the altcoin, the coin is expected to reach a value of $135.39 in 30 days. It’s worth noting, however, that not all of these estimates are guaranteed.
As we enter the new year, Quant Network has already stated that it aims to expand its ecosystem by deploying more projects, many of which are already in development. Quant also plans to provide further updates to the Overledger Blockchain and additional developer solutions to assist with the process of creating and deploying blockchain projects.
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