The cryptocurrency market is experiencing active volatility this weekend. There have been many important developments, from a large investor firm facing losses to an altcoin project targeted by whales and a sales move by a corporate whale. These developments provide important clues about what course the cryptocurrency market, including PENDLE coin, will follow in the coming period.
Whales took action for Pendle coin
The cryptocurrency market has been experiencing very active days lately. There have been many important developments, from a large investor firm facing losses to an altcoin project targeted by whales and a sales move by a corporate whale. A wallet belonging to cryptocurrency-focused venture capital firm Polychain Capital transferred 1.71 million PENDLE to Binance, risking losses of approximately $4.4 million. If these tokens are sold at the current price, the investor will experience a 39.1% loss of 4.4 million dollars after waiting for approximately 3 months.
According to the data of the on-chain analysis platform Lookonchain, two different cryptocurrency whales came to the fore with their purchases specifically for Solana (SOL). Whales received 238,893 SOLs worth $41.4 million from Binance in the past 2 days. This strategy was considered as a long-term investment move aimed at further increasing the value of SOL.
Corporate whale sells LDO
A possible institutional wallet took action for Lido Finance (LDO) on July 23. The wallet deposited 2.95 million LDO worth $5.4 million to Binance. The average LDO purchase price of the whale was recorded as $1.65. Considering the current LDO price, if this institution sells all its LDO assets, it will make a profit of 537 thousand dollars.
These developments provide important clues about what course the cryptocurrency market will follow in the coming period. While whales’ interest in Solana increases hopes for the future of the project, institutional investors’ selling from LDO may negatively affect the price of the token. The risk of loss experienced by Polychain Capital reminds investors to be more careful in the cryptocurrency market and pay attention to risk management. It is important to remember that the cryptocurrency market is extremely volatile and it is important to do detailed research before investing.
To stay up-to-date with the breaking news, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channel
