The recent recession in the cryptocurrency markets causes investors to turn their attention to the activities of whales. Especially with Bitcoin accumulating, whales’ interest in Binance-listed altcoins is increasing. According to Scope-Scan’s data, the purchases made by leading whales over the last weekend did not cause a specific impact on the market, but indicate that there may be an increase in volatility in the coming days. This situation appears as an important development that everyone trading in the cryptocurrency markets should follow closely.
These Binance-listed altcoins are in the focus of whales
Despite the stagnant course in the cryptocurrency markets in recent days, whales’ interest in altcoins is remarkable. While the leading cryptocurrency Bitcoin (BTC) is trading at $48,200, whales’ interest in altcoins is increasing, according to a report by leading data provider Scope-Scan. Among the altcoins preferred by whales, BLUR, Optimism (OP) and Aave (AAVE), listed on the Binance exchange, stand out.
According to Scope-Scan data on transactions that took place over the weekend, some of the major whales purchased large amounts of altcoins. For example, a whale named “Marcusruss.eth” withdrew 18 thousand AAVEs (worth $1.61 million) in the last 24 hours and deposited it all into staking. Likewise, another whale purchased a total of 882.3 thousand OPs (worth $3.05 million) in the last 18 hours. However, these purchases did not have a significant impact on prices. Prices of OP and AAVE remained generally stable.
BLUR whales are also on the move
The purchases that took place this weekend are expected to continue during the week. In particular, according to Scopescan tracking data, it is stated that on February 11, a whale collected 3 million BLUR ($1.88 million) from FalconX 6 hours ago and invested all of it in staking. This could potentially increase volatility in the market and create volatility in the prices of altcoins. All these developments once again reveal the importance of whales’ activities in cryptocurrency markets.
The activities of whales are increasingly important in cryptocurrency markets, and this can be influential in determining general trends in the market. Investors can better understand market trends by closely following whales’ preferences. They can create their strategies accordingly. However, it is important to remember that due to the nature of cryptocurrency markets, prices are subject to sudden fluctuations.
Finally, although it is difficult to make definitive predictions about the future of cryptocurrency markets, it should be noted that the activities of whales can affect general trends in the market. Therefore, investors should always be careful and follow current developments closely.
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