As price dips, whales grab significant amount of Bitcoin, ETH and Shiba Inu (SHIB)

According to WhaleStats data, in recent hours, whales have taken over assets like Bitcoin, Ethereum, Shiba Inu, and Chainlink as the crypto market tumbled. Investors have breathed a sigh of relief over the past two days as Bitcoin surged above $42,000 on March 10. Altcoins have also rallied alongside Bitcoin as many crypto assets demonstrate impressive gains.

Whales scoop up massive amounts of Bitcoin, Ethereum and Shiba Inu as prices fall

While various transactions involving the purchase of Bitcoin, Ethereum, and Chainlink have been reported by the blockchain data tracker, the most recent BTC transaction was that of an FTM whale that obtained 1,500 BTC, equivalent worth $58.896,000.


Source: Whale Stats

Another whale bought 550 ETH, or $1,493,921. Ethereum also appears as one of the most bought tokens in the last 24 hours.

According to IntoTheBlock data, the Shiba Inu whale has become more active in the past 24 hours as large transactions increased by 82%. A spike in large transactions often indicates high activity among institutional players or whales buying or selling.

The top 100 Shiba Inu holders have also increased their portfolios; as WhaleStats reports, this portfolio’s average SHIB balance increased by 178.87%. The average SHIB value in their portfolio also increased by 180.48%. The number and active addresses have increased by 880% and 18.18% in the last 24 hours, proving good metrics.

A total of $211 million worth of longs were liquidated in the crypto market as Bitcoin suddenly dropped to as low as $38,796 on March 10. As Bitcoin fell with a 7.5% drop in 24 hours, its net liquidation value over the last 24 hours increased to $68.55 million. Ethereum (ETH) futures suffered a loss of $50.57 million in the same time frame.

A total of 59,945 traders betting on further increases in the cryptocurrency’s price have booked losses on liquidation, data from analytics tool Coinglass shows.

Most altcoins are recording losses between 2% and 7%, and Bitcoin trades at $39,268 at press time.

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