Crypto Whales And Smart Money Accumulate ETH-Based Altcoin

It’s been revealed that crypto whales and smart money are accumulating ETH-based altcoin. Check out the latest news about the issue below.

Crypto whales and investors are rapidly accumulating one Ethereum (ETH)-based exchange altcoin, according to on-chain data.

Blockchain-monitoring service Lookonchain says that a couple of days ago, rich investors scooped up a combined 69,919 of the native asset of the decentralized perpetual trading platform GMX (GMX).

The buys had an estimated total value of $5 million at the time.

“Whales and the SmartMoneys are accumulating GMX!

We noticed that two whales and one SmartMoney bought a total of 69,919 GMX ($5 million) today.”

It’s also important to note the fact that of the three buyers, one crypto whale made the largest purchase, picking up more than 52,000 GMX. The whale previously made a large buy of 14,117 GMX on March 21.

“Whale ‘0x9a76’ bought 52,159 GMX with 2,192 ETH ($3.76M) at a price of $72 today. Bought 14,117 GMX with 636 ETH ($1.15M) on March 21 at a price of $82.”

Check out which are the other two in the original article. 

An important crypto analyst maps the path forward for four crypto assets that have witnessed bullish price action in the last seven days.

In a new strategy session, pseudonymous analyst Cred said that XRP could witness bullish continuation as long as it is above the previous resistance at $0.414.

“If this breakout sticks and XRP does its sort of trend wiping candles where it just moons and sort of retraces weeks and weeks and weeks of selling in a much smaller number of weeks, if that is the case, I think the bigger magnet if you will, or the clearer level for price is about $0.50 to $0.60.”

Stay tuned for more news from the crypto space and make sure to check out the markets as well.