Crypto whales have been making significant moves amidst this week’s market dip, according to a renowned crypto analyst. Ali Martinez, a popular crypto strategist, has been closely monitoring whale activity surrounding top crypto assets such as Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and XRP.
Martinez took to social media to share insights with his 98,300 followers, revealing that deep-pocketed investors have been accumulating Cardano over the past two days. In fact, Cardano whales have purchased over 80 million ADA during this period, indicating a bullish sentiment towards the smart contract platform. Despite the dip, Cardano is currently trading at $1.14, reflecting a 6.22% decrease in the last 24 hours.
Moving on to Dogecoin, Martinez highlighted a massive influx of tokens being bought by whales holding between 10 million and 100 million DOGE. These investors acquired a staggering 210 million tokens during Dogecoin’s recent correction earlier in the week. Despite the market downturn, Dogecoin is trading at $0.402, showing a 4.7% decrease on the day.
When it comes to Bitcoin, the flagship cryptocurrency, Martinez pointed out that high-net-worth investors have been seizing every opportunity to accumulate BTC during the dip. In fact, as prices dropped from $104,000 to $90,000, 342 wallets holding over 100 BTC were created. Currently, Bitcoin is valued at $99,121, marking a 1.2% decrease in the last 24 hours.
Lastly, XRP, the digital asset associated with Ripple, has also seen significant whale activity during its recent dips. Martinez reported that wallets holding between 1 million and 10 million XRP have been accumulating the asset, with over 100 million XRP being bought during the latest downturn. Despite this, XRP is trading at $2.43, showing a 5% decrease on the day.
In conclusion, crypto whales have been actively accumulating popular crypto assets during the market dip, signaling confidence in the long-term potential of these digital currencies. As the market continues to fluctuate, it will be interesting to see how these whale movements impact the overall crypto landscape.
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