In the deep waters of the Bitcoin and altcoin market, a mysterious whale is causing the ripples. Just 8 hours ago there was an important move. 353,500 Chainlink (LINK) tokens were withdrawn from the Kraken exchange, equivalent to approximately $2.14 million. This ongoing activity of the whale draws attention. It also causes speculation among traders and analysts. Meanwhile, the price of altcoin Shiba Inu (SHIB) has increased. Accordingly, it rose 15% following the launch of an NFT-based product collection. It has attracted increased trading activity from bull whales. Similarly, the Decentraland (MANA) price has also increased. According to Buan, the millionaire whale saw a weekly gain of 18% as investors embarked on a price bailout mission.
Altcoin Chainlink whale and its implications
The anonymous entity behind the Chainlink whale has been continuously withdrawing LINK tokens from Kraken for the past three months. In total, the whale has withdrawn 1,588,500 altcoin LINK tokens worth $9.67 million. Accordingly, the whale’s strategic timing indicates a sophisticated trading strategy. These large withdrawals can affect market sentiment.
On the other hand, it can create question marks about the trust in the stock market and the asset. There is also the issue of long-term holding or asset security. It also increases the possibilities of saving for participation in strategic games such as preparation for a large investment.
Shiba Inu’s NFT-Merch hype and bull whales
The altcoin Shiba Inu developer’s introduction of “Shibacals” and the release of “Authenticated Collectibles” led to a 15% price increase within 24 hours. The data on the chain points to an interesting situation. He states that there has been a significant increase in the trading activity of Shiba Inu whales on the rise.
On the other hand, it shows that this pushes the price even higher. Within a week, there is a 740% increase in whale transactions. This increased trading activity indicates a growing interest in SHIB. It also shows a positive sensitivity.
Decentraland’s price recovery mission
Despite going into turbulence due to the SEC’s lawsuit against Binance and Coinbase, altcoin Decentraland (MANA) has witnessed new investments from millionaire whale investors. The fact that these investors have amassed 36 million tokens worth over $13.6 million demonstrates confidence in MANA’s price prospects. With a surge of accumulation among crypto whales and rising buy walls on exchange order books, the potential for a positive price rebound towards $0.50 is plausible.
The activities of cryptocurrency whales continue to captivate the crypto community by offering insights into market trends and potential changes. The constant withdrawals of the altcoin Chainlink whale raises questions about market confidence, while the NFT-merch hype surrounding the Shiba Inu and the accumulation wave in Decentraland point to positive sentiment and potential gains. As we mentioned at Kriptokoin.com, as the cryptocurrency market develops, these whales will continue to stay under the spotlight, affecting the direction of various cryptocurrencies.
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