Over the past 24 hours, Ribbon Finance (RBN), a decentralized finance (DeFi) platform renowned for its derivatives and structured products, has experienced a remarkable 20% surge in its price, marking an impressive 80% increase over the past week.
The price of $RBN has increased by more than 75%!
And whales are buying $RBN today!
0xEfd7 spent 2.97M $USDC to buy 2.18M $RBN at $1.36.
0x9769 spent 390 $ETH($1.49M) to buy 1.2M $RBN at $1.24.
0x02F6 spent 700K $USDC and 131 $ETH($497K) to buy 852K $RBN at $1.4.
Address:… pic.twitter.com/lqNYqdTE7b
— Lookonchain (@lookonchain) March 7, 2024
This surge has positioned RBN at the forefront of the burgeoning DeFi trend, showcasing its growing prominence within the cryptocurrency market.
With its price oscillating between a 24-hour high of $1.13 and a low of $1.479, RBN is currently trading at $1.459, reflecting the token’s strong performance in the market.
As a result of its exceptional success, RBN has ascended to the 117th position in the cryptocurrency market capitalization chart, boasting a current market value of $781.7 million.
RBN Wallets Stages More Accumulations And Holdings
A notable development contributing to RBN’s surge is the substantial investment made by a fresh wallet address, 0xefd, which recently allocated 2.97 million USDC to purchase 2.187 million RBN tokens at an average price of $1.358.
Impressively, the wallet still retains 2.03 million USDC, indicating a continued interest in RBN and bolstering its upward trajectory.
The $RBN price jumped 83% (24H), paving the way for the #DeFi trend!
Fresh wallet 0xefd just spent 2.97M $USDC to buy 2.19M $RBN at ~$1.358 in the past hour, allegedly further pumping the price.
The wallet still has 2.03M $USDC left. Will they be used to buy more $RBN?
Follow… pic.twitter.com/lBvVyimTQG
— Spot On Chain (@spotonchain) March 7, 2024
Furthermore, reports suggest that additional whales have joined the accumulation of RBN tokens. According to Lookonchain data, wallet address 0x9769 invested 390 ETH, equivalent to $1.49 million, to acquire 1.2 million RBN tokens at $1.24 per token.
Similarly, wallet address 0x02F6 allocated 700,000 USDC and 131 ETH, valued at $497,000, to purchase 852,000 RBN tokens at $1.4 each.
The surge in RBN’s price and the increased accumulation by prominent investors underscore the growing confidence and enthusiasm surrounding the project. As RBN continues to lead the DeFi trend and attract significant investment, its position within the cryptocurrency market is poised for further expansion and recognition in the coming days.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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