Crypto analytics firm Santiment says a large Decentraland (MANA) whale transaction could signal a big price swing for the Ethereum-based metaverse project.
holyday says a whale suddenly moved 256.31 million MANA worth approximately $190.2 million, one of the largest transactions the network has ever seen.
A transaction of this size, Santiment says, usually heralds a significant price movement.
“Decentraland had one of its largest transactions of all time on its network today, with 256.31 million MANA moved outside of a known whale address.
This move was worth $190.2 million. Usually these massive trades herald price swings in a new direction.”
MANA is trading at $0.70 at the time of writing.
holyday too says Chainlink’s (LINK) largest transaction in eight months just happened with a whale moving $106 million worth of LINK.
The whale transaction came just before LINK hit its highest price since the FTX crash at $8.34. LINK has retraced to $7.70 at the time of writing.
“Chainlink’s largest transaction in eight months occurred 12 hours ago. $106 million in LINK moved to a new whale address, the largest move since June. This transfer was four hours before the price hit $8.34, the highest since the FTX crash.”
holyday says that overall, the crypto markets look healthy with some projects making 20% gains on their market caps in the last week alone, as Bitcoin (BTC) threatens to wipe out the large psychological $25,000 price level.
“Crypto markets continue to show impressive returns, with a large handful of projects adding 20% or more to their market capitalizations in the past week. Bitcoin continues to tease the $25,000 range, allowing altcoins to continue pumping right to left.”
Bitcoin is trading at $24,456 at the time of writing.
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