The activity of the decentralized data exchange protocol Ocean Protocol (OCEAN) has attracted the attention of an altcoin whale. According to information provided by Lookonchain, today a cryptocurrency whale sent 3 million OCEAN ($1.63 million) to the exchange from his wallet containing Ocean Protocol’s utility token OCEAN.
Increase in 24 Hours
According to CoinGecko data, the OCEAN token experienced a 5.4% increase in the last 24 hours and gained over 30% during the week, reaching its highest levels since February 2023. According to the information shared by Lookonchain, it is stated that the whale sent the OCEAN tokens in his wallet to Binance and carried out this transaction during a period when the altcoin OCEAN prices were at their peak.
A New Strategy from Whale?
In Lookonchain’s statement, “This wallet coincidentally constantly sends OCEAN to Binance after the price peaks.” The statement is included. This could be interpreted as the whale’s decision to sell OCEAN tokens or pursue another strategy.
Ocean Protocol, which launched the last prediction competition of the year in the past weeks, will distribute a $ 5,000 prize at the end of the event, which will last until December 12. The competition aims to increase interest in the project by bringing together the Ocean Protocol community.
What Will the Whale’s Next Move Be?
According to Lookonchain data, the whale still has 23 million OCEAN in his wallet. This suggests that the whale has only released a small portion and needs to be followed carefully to monitor its future movements. Ocean Protocol and its OCEAN token continue to hold a significant place within the altcoin community, and this move by the whale may cause speculation about the future of the project.