As price dips, whales grab significant amount of Bitcoin, ETH and SHIB: details
By WhalesStats data, in recent hours, whales have grabbed assets such as Bitcoin, Ethereum, Shiba Inu and Chainlink as the crypto market plunged. Investors had breathed a sigh of relief over the past two days as Bitcoin surged above $42,000 on March 10. Altcoins had also risen alongside Bitcoin as many crypto assets posted impressive gains.
Though different transactions involving the purchase of Bitcoin, Ethereum and Chainlink were reported by the blockchain data tracker, the most recent BTC transaction was that of an FTM whale acquiring 1,500 BTC, or $58,896,000 worth.
Another whale had bought 550 ETH, or $1,493,921. Ethereum also emerges as one of the most purchased tokens in the last 24 hours.
As per IntoTheBlock data, Shiba Inu whales have become more active over the last 24 hours as the number of large transactions rose by 82%. Spikes in large transactions often point to high activity among institutional players, or whales, who are either buying or selling.
The top 100 Shiba Inu holders also increased their holdings, as WhaleStats reports a 178.87% increase in the average SHIB balance for this category of investors. The average SHIB value of their portfolio also increased by 180.48%. Volume and active addresses increased by 880% and 18.18% over the past 24 hours, demonstrating healthy metrics.
Crypto market dips
A total of $211 million worth of longs were liquidated across the crypto market as Bitcoin suddenly dipped to lows of $38,796 on March 10. As Bitcoin fell with a 24-hour drop of 7.5%, the value of liquidations on its network over the last 24 hours rose to $68.55 million. Ethereum (ETH) futures had $50.57 million in losses within the same time frame.
A total of 59,945 traders who bet on further increases in crypto prices experienced losses from liquidations, according to data from analytics tool Coinglass.
The majority of altcoins were recording losses ranging between 2% and 7%, and Bitcoin trades at $39,268 at press time.
