Heighten volatility in the market kept investors’ interest alive in the riskier assets including cryptocurrency since the beginning of the new year
As per the On-chain analytical firm, Santiment there are 4 digital assets that stand out with the recent whale activities.
Cardano (ADA)
Since February, a huge spike in whale activity could be observed. The Cardano’s proof-of-stake (PoS) Layer-1 protocol by market whales is growing. As per Santiment, the total number of transactions involving more than $1,00,000 in value has topped 539. The whale action exerts a positive bullish action on the price of the network’s native digital currency.
Hex($HEX)
HEX observed the highest level of whale transactions on February 20 after February 9. The price outperformed Binance’s crypto with an appreciation of more than 255% since the beginning of the year compared to BNB’s 35%.
Paxos Standard ($USDP)
Paxos Trust company, a New York-based stablecoin issuer that issued Binance USD and Paxos Dollar (USDP) investigated by the New York Department of Financial Services (NYDFS). Recently, the major spikes in Paxos Standard were attributed by the recent SEC lawsuit.
SANDBOX
Sandbox (SAND) rises exponentially over the past few weeks. The platform combines a blend of NFT, DeFi, and metaverse. The token observed the third-largest spike in the past three months.
SAND printed 16% gains for investors in the past week, and the increasing whale activity heighten the probability of a short-term correction in the metaverse token. As of writing, SAND/USD is reading at $0.79345, down 4.72%.
