Having a Whale of a Time
With the year going the way it has thus far, the volatility has key stakeholders displaying significantly more excitement than usual. Some of the world's most famous investors discuss volatile markets (no matter the sector) being the ideal time to actually make key moves to separate yourself from the average investor.
We'll quickly explore a few assets that are seeing significantly high levels of whale moves:
Don't mind the 5-day anomaly gap in data for Cardano. Just take a look at what the asset has done since February. Clearly a huge spike indicating some major interest from whales at this level.
Everyone's favorite asset to either love or hate, Richard Heart's baby just continues to climb. You'll notice that yesterday was the highest level of whale transactions other than February 9th. And on that day, there was a mid-sized correction. Don't be surprised if history repeats itself for at least a couple of days.
Paxos Standard ($USDP)
The major spikes in Paxos Standard is easily explained by the recent SEC lawsuit, which determined that their owned BUSD stablecoin is an unregistered security. As a result, some major shifts in assets were made as the news was unfolding last week. Watch how any asset revolving around USDP trading pairs fluctuates as stories continue to break around this story.
The Sandbox ($SAND)
The Sandbox has been on quite a tear of its own. Not quite to the capacity that Hex has been. But it has been turning heads quite a bit. Yesterday was the third highest whale spike in the past 3 months. And it came as prices were rising rapidly. This increases the probability of at least a short-term correction.
Continue to keep an eye on how whales shift markets. And remember, that prices are more and more likely to do a 180 from their current price direction based on how prominent the whale activity spikes are! 🐳
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.
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