According to data from crypto analytics platforms, whales are hoarding 4 cryptocurrencies while selling large amounts of 1INCH. Among them, ARB draws attention with its price increase.
Whale alert for 1INCH, DOGE, SHIB and ADA!
One address bought millions of 1INCH and transferred it to Binance
According to Lookonchain data, an address starting with 0x7459 received 15.55 million 1INCH from the un-lock event. After that, he transferred 3 million to Binance, worth about $1.1 million after a while. As Kriptokoin.com, we previously reported that 249,807,669.19 units of 1INCH will be unlocked at 8 am this morning. This is worth about 101 million dollars. It also accounts for 16,654% of the total supply.
Whales have moved billions of DOGEs
Whale tracker WhaleAlert shared that anonymous wallets have transferred surprising amounts of DOGE in the past 24 hours. The amount transferred is approaching nine billion DOGE. According to Whale Alert, 8,779,99992 Dogecoins were transferred in 10 major transactions. Six of them were carrying a similar amount of 680 million DOGE, worth about $48,603,265 each. Prior to these, there was a transfer of 449,999,986 DOGE (equivalent to $32,363,161), two transactions of 1,224,999.998 DOGE, and a transaction carrying 1,749,99996 DOGEs. This was almost nine billion Dogecoins in total, valued at $632,937,556 at the current exchange rate. The size of these transactions and the fact that many of them carry the same amount of crypto may indicate that these piles have transferred internally from crypto exchanges.
Source: Whale Alert / TwitterWhales accumulated 100 billion SHIB in days
According to IntoTheBlosk, the number of whales’ Shiba Inu tokens has increased by 100 billion SHIB since the start of the week. The total assets of these addresses are currently estimated at 661.99 trillion SHIB. By the way, it should be reminded that 410.36 trillion tokens are concentrated at the “dead” address where SHIB tokens are sent to be burned. In addition to the largest addresses, a positive change in balance was seen among those named as investors according to the IntoTheBlock methodology. Here we mean addresses that hold between 0.1% and 1% of SHIB’s total supply. There are 41 such addresses in total. Their volume has increased, albeit slightly, by seven billion SHIB.
Despite the seemingly positive changes, it would not be fair to say that these are bullish for SHIB. On the contrary, the opposite was true. It’s important to keep in mind that the fact that many of these whale addresses and some of the so-called investor addresses are stock exchange accounts and they’re “fat” may indicate that the actual owners of SHIB sent them to the exchange. This is often a sign of selling sentiment among the real holders of the cryptocurrency. For example, the total assets of individual holders of the Shiba Inu token decreased by 160 billion SHIB during the period under review. This is a proof of the situation we are talking about.
ARB rises 8% thanks to whales and Andrew Kang
As you follow on Kriptokoin.com, Arbitrum (ARB) is witnessing a solid 8% increase in its price. Interestingly, this rise came as prominent cryptocurrency investors like Andrew Kang significantly increased their holdings. This bullish activity is a glimmer of hope after a tough market period for ARB, which has seen its value drop by 29% over the past few days.
Andrew Kang is known for his intelligence at identifying and supporting promising projects. This investor made an important move towards ARB. He reinvested the proceeds from selling all his holdings in RDNT to ARB. In these transactions, a total of 723,311 ARBs were purchased, equivalent to $867,000, at an average price of $1.2.
Source: TradingViewNotably, he then continued to invest all his newly acquired ARB tokens in RDNT Capital. This indicates an optimistic view on the future performance of the token. In addition, another whale known with the address “0xf59b” also decided to take advantage of the rise of ARB. This asset invested 1.2 million ARB ($1.5 million) in OKX.
Cardano whales transported 313 billion ADA
As a demonstration of Cardano’s outstanding performance, a staggering 313 billion ADA tokens were moved in major transactions highlighting the cryptocurrency’s significant market activity. Amid this flurry of large-scale transactions, the total volume of these transactions exceeded 70,000. Thus, he underlined the significant efficiency of the network.
The large transaction volume, defined by transactions exceeding one hundred thousand dollars, is an important indicator of whale activity on the network. Such significant movements have the potential to significantly affect the ADA token price. However, despite the dramatic increase in volume, the price of ADA has performed fairly neutrally, fluctuating around 4% over the past seven days.
Source: TradingViewThis lack of price action despite a significant amount of ADA being moved probably indicates that whales are becoming aware of their holdings. In other words, ADA whales move their tokens to other addresses. Or, converting it to other entities. This type of activity often leads to price stability as buying pressure offsets selling pressure. However, it is also possible that the whales are simply transferring their assets with no intention of selling them. They may be preparing for future transactions, diversifying their portfolios at multiple addresses, or securing their assets. Without more information, it is quite difficult to determine the exact intentions behind these large transactions.
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