As we reported on Kriptokoin.com, the recent declines in the crypto market have also affected big investors. A giant whale withdrew from the market, selling altcoins such as LDO and AAVE at a loss. However, despite this decline, some cryptocurrencies are experiencing great activity.
Whales’ Movement in AAVE and These Altcoins Affected Prices
There has been a lot of activity in the cryptocurrency markets in recent days. Especially the big sales made by giant whales are having a significant impact on the market. Recently, a whale sold 3.33 million LDO and 31,191 AAVE at a loss and transferred them to the Binance exchange. The total value of this sale was calculated as 5.67 million dollars.
According to Lookonchain’s data, this whale has sold at a loss before. The whale sold 3.13 million LDO, 49,771 AAVE, 269,177 UNI and 250,969 FXS. These sales caused LDO, AAVE, UNI and FXS prices to fall. This once again demonstrated the impact of the whale on the market.
Market Impact and Results
These massive sales by the whale led to a serious decline in the cryptocurrency market. In the last 24 hours, the LDO price fell by 2.4 percent to trade at $ 1.68. The AAVE price fell by 6 percent to $ 81.5. These declines caused concern among investors and led to a general selling pressure in the market.
Behind these declines, the whale spent more than $73 million to buy ETH and Ethereum-based altcoins after the SEC approved 19b-4 filings in Ethereum ETFs at the end of May. The sell-off that followed this large investment suggests that the whale may have made a strategic move.
Big Movement in Toncoin
Despite the general decline in the cryptocurrency market, there is great activity in some cryptocurrencies. In particular, Toncoin (TON) has experienced a massive trading volume increase of 257 percent in the last 24 hours. This increase shows that the interest of big whales in Toncoin is increasing. Toncoin is currently trading at $7.10, down 9.16 percent in the last 24 hours.
According to IntoTheBlock data, Toncoin’s large trading volume reached $7.58 million. This suggests that whales are strategically accumulating or selling Toncoin. Positive developments in the Toncoin ecosystem and upcoming technological innovations may cause this interest to increase.
Telegram and Toncoin Connection
Another reason for the increased interest in Toncoin could be the TON-linked “Stars” currency that Telegram CEO Pavel Durov announced last month. This new currency allows users to buy digital goods and services within Telegram mini-apps. Stars can be converted into Toncoin, increasing demand for Toncoin. This new feature of Telegram could increase the value and utility of Toncoin.
Toncoin is currently ranked as the eighth most valuable cryptocurrency in the market, valued at $17.5 billion. These developments increase the interest in Toncoin, causing whales to invest in this cryptocurrency. These fluctuations in the cryptocurrency market present great opportunities and risks for investors. The large transactions made by whales are once again demonstrating their influence on the market. However, some cryptocurrencies continue to attract a lot of attention despite the declines.
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