In a remarkable display of financial power, cryptocurrency ‘whales’ have been seen executing transactions valued at over $10 million across various networks. This information was brought to light by Santiment, a leading blockchain data and analytics provider, via its Twitter account.
In a recent tweet by Santiment, it was identified that notable multi-million dollar transactions have surfaced across various Coins:
🐳 Many $10M+ valued transactions have popped up on various networks today. With #altcoins volatile and continuing to shed market cap value, keep an eye on where whales are making their moves, such as $AAVE, $APE, $COMP, $IMX, $LDO, and $MDT. pic.twitter.com/7POYwnKXPD
— Santiment (@santimentfeed) August 2, 2023
The crypto market is no stranger to volatility, and altcoins have been notably unpredictable, shedding significant portions of their market cap value. Amidst this flux, the movements of these ‘whales‘, or individuals and organizations holding large amounts of cryptocurrency, have drawn attention.
The cryptocurrencies in focus include AAVE, APE, COMP, IMX, LDO, and MDT. These diverse tokens range from decentralized finance (DeFi) staples like Aave and Compound (AAVE and COMP respectively), to the innovative gaming token Immutable X (IMX), and even the less-known Lido (LDO) and Measurable Data Token (MDT).
Aave (AAVE) is a decentralized lending protocol built on the Ethereum blockchain, allowing users to borrow and lend various crypto-assets in a peer-to-peer manner without needing a centralized intermediary. As of the current web page data, the live Aave price against the US Dollar is $64.06, with a 24-hour trading volume of $120,334,224.
The circulating supply of Aave tokens is 14,507,962 AAVE, representing approximately 90.67% of the total supply of 16,000,000 AAVE tokens. The fully diluted market cap, which considers the maximum supply, is $1,024,880,619.
ApeCoin (APE) is a cryptocurrency with a current price of $1.81 and a 24-hour trading volume of $44,423,032.71. It ranks at 59 in the CoinMarketCap list with a market cap of $665,645,321. APE has a circulating supply of 368,593,750 coins, accounting for 36.86% of its total supply of 1,000,000,000 APE coins. The fully diluted market cap is estimated to be $1,805,658,445.
Compound (COMP) is a decentralized finance (DeFi) lending protocol that allows users to earn interest on their cryptocurrencies by participating in liquidity pools. As of the current data, the live price of COMP stands at $59.82 USD, with a 24-hour trading volume of $128,360,283.93 USD. These details are demonstrative of Compound’s performance, and its position in the DeFi space.
As of the current data, the live price of Immutable (IMX) is USD 0.7535, with a 24-hour trading volume of $23,495,175. The market cap is $815,137,624, and the token is placed 49 on CoinMarketCap. It’s essential to note that cryptocurrency prices are highly volatile, and the market could change rapidly. Therefore, the analysis is based on the available data and may not reflect real-time market conditions.
Lido DAO (LDO) currently trades at $1.85 with a 24-hour trading volume of $53,907,299. Over the last 24 hours, LDO has experienced a 2.47% increase in price. The cryptocurrency holds the 34th position in terms of market capitalization, with a total market cap of $1,626,632,507.
Measurable Data Token (MDT) currently trades at $0.0467 with a 24-hour trading volume of $1,923,526.66. Over the last 24 hours, MDT has experienced a slight increase of 0.74%. The coin holds the 466th position on CoinMarketCap, with a market capitalization of $31,578,614. MDT has a circulating supply of 676,157,013 coins, representing 67.62% of its total supply of 1,000,000,000 MDT coins.
In conclusion, the crypto market has been witnessing significant volatility, driven in part by the actions of ‘whales‘ executing transactions worth over $10 million. Altcoins like AAVE, APE, COMP, IMX, LDO, and MDT have been in the spotlight due to these unpredictable moves. AAVE and COMP offer lending and earning opportunities on Ethereum’s blockchain. Meanwhile, the lesser-known tokens, LDO and MDT, have also gained attention amid the market flux caused by these whale movements
