Cryptocurrencies, which have seen the worst levels on a yearly basis in the past weeks, seem to be recovering a little this week. Bitcoin managed to rise above $20,000 again. Altcoins, on the other hand, are showing a slight appreciation. In the past day, while BTC and other cryptos were still at lows, several altcoin whales made new additions to their wallets. According to the data, “Martian Manhunter”, one of the largest whales, bought DOGE and XRP. Here are the details…
BNB Chain whale gets DOGE and XRP
According to WhaleStats, the platform that provides data for cryptocurrency whales, “Martian Manhunter,” a large BNB whale with 40 million XRP, has purchased 18,800,433 DOGEs worth $1,256,188. Whale also bought a few more altcoins in separate transactions. Among them were 11,988,683 MATICs worth $5,605,116. In addition to holding 40 million XRP worth $12,471,184, the anonymous buyer also owns 25 million ADA, or $11,191,348. Said whale also holds 30 million TRX tokens and 350,000 LINK tokens.
The Wrapped XRP token on BNB Chain has emerged as one of the biggest assets in the hands of BNB whales. According to WhaleStats, the 2,000 largest BSC whales currently hold $15,209,981 worth of XRP. Whales are buying bottom in response to the turbulent trade movement seen since early 2022. Cryptocurrencies have not been performing well since the beginning of 2022, as we have also reported as Kriptokoin.com. In addition, the decline has worsened over the past 2 months. Meanwhile, you can see the other coins the whales received in the tweet below.
Is the cryptocurrency space recovering?
The decline in question began with the collapse of the Terra ecosystem. Details such as the US Federal Reserve’s (FED) interest rate hike and the trading of BTC in relation to stocks also affected the market. Then, the suspension of withdrawals by companies such as Celsius and Blockfi, which specialize in lending in the field of cryptocurrencies, and the crisis in funds such as Three Arrows Capital also negatively affected the field.
However, Bitcoin and altcoins have rebounded slightly with a few tokens currently gaining value. Dogecoin (DOGE) is trading at $0.06, up 4%. Bitcoin is changing hands at $20,216, up 5.7 percent. XRP is up 2.9 percent at $0.32. ADA gained 39 percent and SOL gained 9.4 percent. The overall cryptocurrency market, on the other hand, was up 5.2 percent. The total cryptocurrency market is observed at just under $1 trillion, at $950 billion.
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