While the decentralized finance (DeFi) project Sushi (SUSHI) gained more than 30% in value in the last 2 days, all eyes turned to the reason behind the rise.
SUSHI, one of the well-established DeFi projects, 30 October from date to November 1 approximately in the process 31% showed an increase. The million-dollar whale activities behind the rise attracted attention.
Reported by on-chain analysis platform Lookonchain to data according to “0xCCb6A new whale wallet called “ decentralized exchanges (DEX) He started collecting large amounts of SUSHI through.
Data from this whale, 0.71 from dollars 900,514 SUSHI for buy 640 thousand USD Coin (USDC) He showed what he spent.
Claiming that there may be whale manipulations after the rise in price, the Lookonchain team said that these whales are again DEXs via on SUSHI long He also stated that he might be taking a directional position.
In parallel with the purchases and the rise, more than 90 new cryptocurrency wallets were opened. dYdX (DYDX) Emphasizing that it has deposited USDC in decentralized futures exchanges such as , Lookonchain supported the theory that long-directed transactions may be taking place.
According to CoinGecko data, within 24 hours %10 rising SUSHI, at the time of writing 0,from $789 is being traded.
Whales Manipulate Altcoin Price: There is a 16 Percent Rise! The article titled was prepared by Tugay Erdem and published on koinbulteni.com.