Blockchain intelligence firm Santiment shared in a tweet yesterday that there has been a notable increase in whale activity for many projects over the past week. The post added that several altcoins saw more than $10 million in transfers just yesterday. Here are the details…
For which altcoins were loaded transactions made?
Santiment noted that the significant whale activity witnessed yesterday made it one of the top three days with the highest whale activity this year. The firm also revealed that Polygon (MATIC), Chiliz (CHZ), Curve DAO Token (CRV) and Tether USD (USDT) led the way in terms of whale activity yesterday. At the time of writing, MATIC was trading at $0.6196 according to CoinMarketCap. This comes after the altcoin has lost 3.55 percent in the last 24 hours. This price drop also saw the altcoin weaken against two market leaders, Bitcoin (BTC) and Ethereum (ETH). As a result, MATIC lost 2.84 percent against BTC and 2.11 percent against ETH.
CHZ also experienced a 24-hour loss, lowering its price to $0.07371. This is the 3.22 percent decrease in the last day. The crypto was also surpassed by BTC and ETH, losing 2.54% against the leading crypto and 1.80% against the largest altcoin by market cap. CRV suffered the same fate as CHZ and MATIC and lost last trading day. Currently, the price of MATIC is at $0.669 after a 2.36 percent drop. However, the altcoin saw a 4.40 percent increase in daily trading volume. As a result, the total 24-hour trading volume for CRV amounted to $32,904,988.
Finally, USDT saw a slight increase in its overall market value. Currently, USDT’s market cap was $83,326,848,737, which is an increase of 0.13% over the past 24 hours. The stablecoin briefly lost its peg to the dollar the other day, reaching its daily low of $0.9995. However, since then, USDT has been re-pegged to the fiat currency and has been trading at $1.
25,000 Ethereum transferred to Binance
On the other hand, Lookonchain shared in a twitter post yesterday that a whale deposited 25,000 Ethereum (ETH) on Binance. In a separate post from Lookonchain, the platform explained that ETH’s price drop over the past 11 hours was most likely due to a sell-off by this whale. The whale is estimated to have around 8,000 ETH unsold. Lookonchain also revealed that the same whale pulled 16 million USDT again a few hours ago. For the past two months, this whale has had a 100 percent win rate when trading ETH.
CoinMarketCap noted that at the time of writing, ETH is still trading in the red. The altcoin was valued at around $1,845.79 after a 0.93 percent price drop in the last 24 hours. This caused ETH to trade between the daily low of $1,822.10 and the 24-hour high of $1,867. The drop in the price of ETH over the past day has put its weekly performance even further in the red, dropping 3.26 percent.
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