Crypto News

Whales Target This Top Three Altcoins: $UMA, $LDO, $AAVE, Watch Out For Price Action

Whales in the crypto realm have recently shown a keen interest in three specific tokens – UMA, LDO, and AAVE, according to on-chain reports.

UMA has been a standout performer, delighting investors with an impressive surge of over 190% in the past week and a remarkable 289% increase over the last 90 days, even amidst Bitcoin’s downward trend. Coinglass data reveals that UMA’s open interest has seen a notable uptick, reaching $130.16 million, reflecting a substantial 32.08% rise.

A noteworthy move in the UMA market was observed when a whale executed withdrawals totaling 95,000 UMA ($650,000) from Coinbase earlier in the week. Subsequent to this transaction, UMA experienced a notable 40% increase.

Whale Activity On LDO And AAVE

Shifting focus to LDO, recent whale activity indicates an accumulation phase. In the past week, a whale withdrew 361,000 LDO and amassed a total of 1.05 million LDO ($3.16 million).

Despite this accumulation, LDO’s price has displayed bearish figures, witnessing a 6% decline today and a 21% slump in the last 7 days.

Similarly, AAVE has drawn attention as 9 whales collectively withdrew 37,700 AAVE ($3.3 million) yesterday, signaling a strategic move towards a long position in the token. However, AAVE continues to grapple with bearish trends, reflecting a 5% decline today and a 13% drop in the past 7 days.

This recent whale activity underscores the dynamic nature of the crypto market, where strategic moves by influential players can significantly impact the trajectory of individual tokens.

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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Image Source: dvigalet/123RF // Image Effects by Colorcinch

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