The whales suddenly deposit Ethereum altcoin to Binance and OKX, causing the price to decrease by 50 %: data on the series
Dear merchants in depths caused prices to collapse during the weekend after depositing a large part of Altcoin supplies for digital asset exchanges.
According to the Blockchain Lookonchain trace company, the Bounce Whale (auction) greatly affects the ALTCOIN price movement for the past week, causing huge fluctuations in both directions.
Bound Finance is a decentralized auction platform that allows auctions for various assets, such as the physical assets permitted on distinctive symbols and non -explosive symbols (NFTS).
Distinctive symbols of the auction are used in governance, trick, and fees to participate in auctions or create NFTS on the platform.
Lookonchain says that in the past few days, whales have sent more than 14 % of the public auction display to Binance, the largest exchange of encryption in the world by size, and OKX. These deposits are supposed to have led to the sale of coins in the open market, which eventually caused low prices.
Lookonchain says,
“The auction whales deposited $ 1.08 million ($ 48.6 million, 14.26 % of the total offer) in Binance and OKX again, causing the price to decrease by 50 %.
Pay attention to price changes. “
At the time of writing this report, the auction has not been recovered, as it is currently circulating at $ 20.93 with the maximum market of $ 137 million. The auction is classified as the largest 363 encryption assets by maximum market.
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