Large Investors Purchase Chainlink, MATIC and Fantom Dips as Altcoin Prices Rebound

AnalysisLarge Investors Purchase Chainlink, MATIC and Fantom Dips as...



Tomiwabold Olajide

Altcoin prices rebound as large investors buy into Chainlink, MATIC and Fantom dips

According to CoinMarketCap data, a handful of altcoins are seeing a slight rebound after yesterday’s market decline was inspired by Bitcoin’s drop to lows of $39,650.

At press time, Ethereum have rebounded 2.73% to $3,128, while tokens such as BNB (BNB, +5.59%), Terra (LUNA, +6.34%), Dogecoin (DOGE, +5.35%), Polygon (MATIC, + 8.69%) and Near Protocol (NEAR, +19.03%) were up amid the top 100 cryptocurrencies.

Polygon MATIC is up 8.69% at a present price of $2.23, as investors cheer the positive news of Associated Press launching its NFT marketplace on the Polygon blockchain.

As reported by U.Today, Polygon announced the debut of Plonky2, a recursive SNARK it claims is 100x faster than existing alternatives and natively compatible with Ethereum.

Large investors buy into Chainlink, MATIC and Fantom dips

Large investors typically use dip periods to accumulate their favorite tokens. According to WhaleStats data, large investors have purchased tokens such as Polygon (MATIC), Convex Finance (CVX), Chainlink (LINK) and Fantom (FTM) in the last 20 hours.

WhaleStats reports four large MATIC transactions by whales. The most recent buy is of an Ethereum whale who acquired 1,149,996 MATIC, or $2,495,491 worth. Another ETH whale ranking 614 on WhaleStats acquired 7,137,000 MATIC, or $15,415,920 worth.

Fantom and Chainlink were not left out of the whale accumulation spree as an Ethereum whale bought 500,000 FTM, or $1,110,000 worth, while another ranking 130th on WhaleStats purchased 46,000 LINK, or $1,263,160.



Learn more

Latest news

Australian Crypto Exchange Swyftx Cuts 90 Jobs Amid Crypto Winter

The job cuts would equate to a reduction of almost 45% of Swyftx's workforce. Learn more

Bitcoin Sinks Further 70% in Standard Chartered List of Possible 2023 Upsets

(Bloomberg) -- Speculators cleaving to the view that the crypto rout is mostly over are at risk of...

Australian Crypto Exchange Announces Massive Layoffs

Alex Dovbnya Swyftx has fired more than a third of its staff, with the ongoing cryptocurrency winter becoming increasingly...

Ripple Price Analysis: Bears Active Near $0.40

Ripple price started a fresh decline from the $0.4100 resistance against the US dollar. The price is now trading...

How Secure Is Social Security?  

The long-term funding shortfall threatening Social Security has garnered so much public notice that consistently overwhelming majorities of...

CRO Price (Cronos) Pumps Over 12%, Why This Could Be The Start of Bigger Rally

CRO price started a fresh increase from the $0.062 support zone. Cronos bulls are now aiming a strong...

Must read

Australian Crypto Exchange Swyftx Cuts 90 Jobs Amid Crypto Winter

The job cuts would equate to a reduction...

Bitcoin Sinks Further 70% in Standard Chartered List of Possible 2023 Upsets

(Bloomberg) -- Speculators cleaving to the view that...

Australian Crypto Exchange Announces Massive Layoffs

Alex Dovbnya Swyftx has fired more than a third...

You might also likeRELATED
Recommended to you