In the ever-evolving world of crypto money, recent developments have witnessed significant activity in the crypto market. Especially altcoins named MANA, FRONT, TRB and LINA became the subject of whales’ transactions. Here are the details…
Whales took action for MANA, LINA
According to Lookonchain, September 26 witnessed a remarkable event in the past hours when two new wallet addresses withdrew a significant amount of money from Binance, totaling 31,476 TRB. This significant transaction was worth approximately $1.08 million and sent shockwaves through the crypto community. Additionally, this surprising move went unnoticed as cryptocurrency analysis firm Santiment had previously detected increased whale activity in Linear Finance (LINA) and Decentraland (MANA) altcoins. Its proprietary charts revealed an increase in whale activity, reaching a three-month high.
2 fresh wallets withdrew 31,476 $TRB ($1.08M) from #Binance in the past 1 hour.https://t.co/G51QrG7xTEhttps://t.co/kDFArvFtXl pic.twitter.com/v9tKRE8Kow
— Lookonchain (@lookonchain) September 26, 2023
2 fresh wallets withdrew 31,476 $TRB ($1.08M) from #Binance in the past 1 hour.https://t.co/G51QrG7xTEhttps://t.co/kDFArvFtXl pic.twitter.com/v9tKRE8Kow
— Lookonchain (@lookonchain) September 26, 2023
Santiment’s analysts noted that whales in the LINA and MANA networks have become unusually active. Although these two tokens have posted relatively modest performances in 2023, the sudden increase in whale activity has raised questions about potential market shifts.
🐳 #Linear and #Decentraland have had fairly unassuming price performances in 2023. But they have highlighted an uptick in #altcoin whale transactions that are showing on @santimentfeed's dashboards to start the week. https://t.co/MMujrgfHB0 pic.twitter.com/mgEhezTrNw
— Santiment (@santimentfeed) September 25, 2023
DWF Labs pulls FRONT from Binance
Additionally, on the same day, Lookonchain reported that DWF Labs, another major player in the cryptocurrency world, has withdrawn a significant amount of FRONT tokens from Binance. Approximately 299,092 FRONT tokens, equivalent to approximately $127,000, were withdrawn just four hours before the TRB event. Currently, DWF Labs holds 699,192 FRONT tokens worth approximately $300,000, creating additional excitement in the cryptocurrency ecosystem. Together, these events highlight the dynamic nature of the cryptocurrency market. Investors and enthusiasts alike continue to speculate on the consequences of these whale movements and whether they herald significant changes in the crypto world. Together, these events highlight the dynamic nature of the cryptocurrency market.
DWF Labs(@DWFLabs) withdrew 299,092 $FRONT($127K) from #Binance 4 hours ago and currently holds 699,192 $FRONT($299K).https://t.co/DnHWLt0PaL pic.twitter.com/wj5oQ4rsTk
— Lookonchain (@lookonchain) September 26, 2023
Investors and enthusiasts alike continue to speculate on the consequences of these whale movements and whether they herald significant changes in the crypto world. This increase in whale activity coincides with a broader debate within the crypto community regarding the influence of these large holders on market dynamics. While some argue that whale activity may indicate bullish trends or impending volatility, others remain cautious, emphasizing the need for transparency and the impact of these movements on small investors. Time will tell what direction the altcoin moves will be in the coming days. Cryptos withdrawn from exchanges carry the risk of being transferred back to exchanges.
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