In a year of market volatility across industries, crypto whales are showing increasing enthusiasm and buying from SHIB and these 4 altcoins.
Cardano (ADA) buys whales
Ignoring the five-day gap in data for Cardano, ADA has seen a massive spike since February, indicating significant interest from crypto whales.
Hex (HEX) remains bullish
Richard Heart’s baby Hex has been the subject of much discussion in the crypto world. Despite this, it continues to climb with the highest level of whale trading that occurred yesterday excluding February 9 and a medium size correction that day. Also, it would not be surprising if history repeats itself for a few more days.
Do crypto whales take Paxos (USDP) cash?
The recent SEC lawsuit against the BUSD stablecoin owned by Paxos Standard has resulted in significant shifts in asset trading. The large increases in Paxos Standard can be attributed to this case, and the volatility is likely to continue as more news comes out about this issue.
Sandbox (SAND) rises with buying pressure
Sandbox shed a tear on its own, attracting attention with a significant rise in prices. Recently, it marked the third-highest rise of crypto whales in the past three months as prices continued to rise. This may increase the likelihood of a short-term correction.
Crypto whale movements continue to change the markets with the possibility of reversing the direction of prices as whale activity increases come to the fore.
SHIB whale buys as launch approaches
A mysterious Shiba Inu (SHIB) whale is constantly adding new tokens to its wallet, so much so that in just 10 days it added over 384 billion SHIBs and now holds more than $255 million worth of meme coins.
According to Ethereum blockchain data, Whale currently holds more than 19.4 trillion tokens. Data from blockchain interface Zerion shows that the whale gradually increased its hit Shiba Inu holdings through a series of transactions over time and did not sell. cryptocoin.com According to data from SHIB, it is trading at $0.000012, down 5% in the last 24 hours.
Blockchain data shows that SHIB is the whale’s second-largest cryptocurrency after ETH, where the whale has more than $300 million worth of tokens. Behind SHIB is the whale’s $60 million Polygon (MATIC), $15 million Chainlink (LINK), $9 million Compound (COMP) and $5.6 million Uniswap’s UNIS token. Whale also owns $16.8 million worth of AVAX on the Avalanche network.
SHIB holders increased
The total number of addresses holding the meme-inspired cryptocurrency SHIB on Ethereum exceeded 1.3 million ahead of the anticipated launch of the project’s layer-2 scaling solution, Shibarium. In particular, Shiba Inu investors showed that they do not plan to sell in bulk, as the average time that users on Coinbase hold the meme-inspired cryptocurrency before selling or moving it to an external address exceeds 230 days.
The number of Shiba Inu owners is increasing ahead of the anticipated launch of Shibarium, an upcoming tier-2 solution that aims to improve the Shiba Inu ecosystem by providing faster transactions at lower cost, among other key improvements. However, there are still many questions regarding the launch and use of Shibarium.
Shibarium will work with Ethereum to process transactions within the Shibarium ecosystem. It will take most of the processing load that the Shiba Inu ecosystem currently brings to Ethereum to operate on the Shibarium chain.
Also, tier-2 will remove tokens from circulation to reduce supply and help increase price. This is known as a token burning mechanism, also called dead Wallets. Shibarium will burn SHIB and require BONE for transactions.
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