Crypto News – To pursue more profits on a number of altcoins, cryptocurrency whales have been taking advantage of the market’s rebound.
November 2023 Crypto Whales’ Movements
Before November 2023, three altcoins that have seen very substantial capital inflows from significant institutional investors are brought to light by on-chain analysis. Crypto whales have made strategic investments in Ripple (XRP) and two other highly ranked altcoins as the market rally gains traction.
Ripple’s Legal Victory Moves Whales
Building on their historic win over the Securities and Exchange Commission (SEC), the Ripple (XRP) team has further solidified their position. The SEC dismissed a protracted market manipulation lawsuit against the top executives of Ripple in October.
According to on-chain statistics, XRP accumulation on news stories has been expedited by strategic cryptocurrency whales. The whales, who currently possess one million one hundred million XRP, have added eighty million more coins over the past ten days. The price of XRP instantly rose above $0.60 as a result of this. On October 19, not long after the SEC dismissed the complaint, the whales increased their purchasing pressure. Approximately $48 million is the value of the recently bought 80 million XRP tokens, valued at the current price of $0.60.
MANA Price May Experience a Historic Rise in November if Whale Activity Continues
Large quantities of Decentraland (MANA) were being acquired by crypto whales prior to November, raising hopes for a wider metaverse renaissance. According to indications, on November 2, 2023, the MANA token garnered a very high amount of whale demand. Surprisingly, the 42 MANA whale transactions on Thursday are the most since June 5, according to the Santiment data above.
The price of MANA has remarkably increased by 48% because of whale transactions, regaining the crucial $0.40 region. Those who purchased MANA at its lowest point in September should expect historically high profits in November if it continues.
INJ Has Experiencing Intense Whale Activity Since October 18
As investors responded favorably to a crucial product feature introduced on its own decentralized exchange, Helix, Injective (INJ) price surged toward a 20-month high of $12 on October 23. To satisfy concerns that the first surge was a passing fad, however, cryptocurrency whales have subsequently kept driving up demand. Actually, Santiment data shows that since October 18, INJ has drawn a steady stream of whale transactions over a period of 16 days.
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