Whales continue to make a difference in the cryptocurrency market. This time, a South Korean whale triggered the price flight of an altcoin he had on his radar. The relevant altcoin price saw an increase of over 85 percent in a short time.
This altcoin skyrocketed with whale buying!
As you follow from Kriptokoin.com, the market is having a quiet weekend. Although the leading crypto Bitcoin tested above $28,000 on Friday, it later slipped below. However, it continues to struggle just below this critical slope. Besides, most altcoins are trading in the red zone. However, there are exceptions to this. According to the crypto analytics platform Lookonchain, the price of Stratis (STRAX) skyrocketed, especially with the purchases of one investor. The analytics platform reported that the price of STRAX increased by over 85 percent with transactions on the South Korean exchange Upbit. He also noted that they identified a whale that showed particular interest in this token. In this context, Lookonchain made the following post.
Today STRAX price is up more than 85%, with nearly 82% of the trading volume coming from Upbit. We noticed a wallet that accumulated 1.8 million STRAX ($1.52 million, 1.2% of the total supply) in the last 12 hours.
The price of $STRAX surged by more than 85% today, and ~82% of the trading volume coming from #Upbit.
We noticed a wallet that accumulated 1.8M $STRAX ($1.52M, 1.2% of total supply) in the past 12 hours.https://t.co/PB2ideHeLg pic.twitter.com/tFlZv0Arid
— Lookonchain (@lookonchain) October 7, 2023
The altcoin price reached $0.87 in two moves from $0.046 in two days. According to CoinMarketCap data, STRAX increased by over 85% in a short time. However, the token later gave back some of its gains. Despite this, STRAX is trading up 32.73% on a daily basis at press time. At the same time, the token gained over 52% in value on a weekly basis. A striking point here is the extraordinary increase in STRAX transaction volume. The token’s trading volume increased by 1,095% in the last 24 hours. Meanwhile, the altcoin managed to rise to the 184th place by market cap.
STRAX daily price chart. Source: CoinMarketCapFollow us on Twitter, Facebook and Instagram and join our Telegram and YouTube channels to be instantly informed about the latest developments!
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