Whale behavior tracking continues to be an effective method for traders to find spots where assets may be about to go on a price tear, or alternatively, a dump. Below, we've highlighted three projects with accumulating whales (in their key respective high stakeholder trading address size tiers), and three with dumping whales:
⬆️ Increasing Number of Whale Address
Skale ($SKL) - 1m to 10m SKL Address Holdings
Maker ($MKR) - 100 to 10k MKR Address Holdings
Ocean ($OCEAN) - 1m to 10m OCEAN Address Holdings
⬇️ Decreasing Number of Whale Address
The Graph ($GRT)
Basic Attention Token ($BAT)
Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.
ICYMI, Ethereum Name Service launched a brand new DAO and airdropped $500m+ worth of its new governance token (ENS).
The amount of unique addresses interacting with ENS soared in the past 36 hours, peaking at just over 47000 earlier today:
The surge in network activity is prompted by addresses claiming ENS - the 'normal' address activity will likely be much more modest (few 1000s if I had to guess).
There's already been a concerted dumping effort marked by a strong uptick in active deposits and exchange inflow in early morning hrs:
The dumpage coincided with a local top, but the price recovered (and charted a new ATH) a few hours later.
As long as users are taking profits and showing concerns about ENS' price momentum, the rally has a chance. Once overconfidence hits (it will look like low deposit and exchange activity while ENS pumps), a correction may be near.
Stay safe out there.
- Squid, Game, Rug - https://cryptopotato.com/squid-game-pulls-the-rug-squid-price-crashes-99-99/
- Loopring, LRC - https://investorplace.com/2021/11/loopring-crypto-news-the-gamestop-rumor-that-has-lrc-soaring-today/
- SAND - https://www.reuters.com/article/the-sandbox-funding-softbank-group/softbank-leads-93-million-investment-in-nft-gaming-firm-the-sandbox-idUSKBN2HN06I
- Price of it at $1.45 is at it's lowest over the months 6 months or so
- It has significant shares in Metahero $HERO & Kanga Exchange $KNG which are both getting listed (Hero on Kucoin and has had $150 million in trading volume on PancakeSwap!)
To be fair I can go all day so I will just flip the script, find anything that indicates it wont blow...
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