Amid the price crash whales are accumulating these Defi tokens
The entire value of the global cryptocurrency market has continued to feel “severe dread,” which has caused the market cap to keep going down. At the time this article was written, the value of the cryptocurrency market as a whole had dropped to $1.24 trillion, according to data from CoinMarketCap. This is less than Wednesday’s figure of $1.29 trillion. Bitcoin’s price has also fallen below $29,000. Check this link www.bitcoin-loophole.live/ , you’ll be able learn more about bitcoin and crypto trading platform.
In the last 24 hours, the global cryptocurrency market grew by 3.44 percent, bringing the total to $80 billion. The total volume of Defi was $7.31 billion, which is 9.12 percent of the total volume of the cryptocurrency market over a 24-hour period.
Stable currencies had a volume of $70.33 billion, which is 87.68% of the total volume of the cryptocurrency market in 24 hours. Over the last day, the market for cryptocurrencies around the world went down again by about 1%.
After recent drops, all cryptocurrencies are now worth $1.19 trillion on the market. This month, none of the major tokens did well. Because of how uncertain things are, the whales are getting closer to the Defi token. ETH whales bought $53 million worth of WBTC.
Even though the price of Ethereum is going down, Whalestats data shows that the biggest holders of the cryptocurrency are buying more DeFi tokens. Wrapped Bitcoin (WBTC) has been found to be one of the tokens that the largest ETH wallets are stockpiling, based on the information that has been gathered.
About $53.19 million worth of WBTC has been added to whale wallets in the past day. The average price of a token at the time this article was written was $28,805 USD.
Bluewhale is the name of an Ethereum wallet, and by itself, it has collected 1.646 bitcoins worth a total of 47.44 million dollars. The whale looks like it’s out doing some shopping. Bluewhale has also put an amazing 47,38 million dollars into the Wrapped Ethereum (wETH).
The recipient was able to get 27,238 wETH from this transaction. In the meantime, the whale has now gathered enough wETH tokens worth $53.9 million. At the time this article was written, the average price of Wrapped Ethereum was $1,767.
You can see how much things sell in the table below. It had already been said that another ETH wallet had added about $12 million worth of wETH.
Chainlink is now traded more than WBTC, which used to be the most traded token.
Whalestats, the 500 biggest ETH whales now trade Chainlink (LINK) more than they trade WBTC. Another Defi token, LINK, has lost 50% of its value in the last month.
Several political events and the recent fall of Terra LUNA have both made a big difference in the market capitalization of cryptocurrencies going down. At the moment, one Bitcoin (BTC) costs somewhere between $28,800 and $29,000.
Since the start of May, the market value of Bitcoin has dropped by about 27%, to $549 billion. The branch of ETH, which is now called WBTC, went through the same thing. It is now worth $7.89 billion on the market, which is less than it was before.
On the other hand, the whale’s growth shows that when prices go down, people tend to buy. In the meantime, the value of Defi coins on the market has gone down by 26% in the past day. Right now, it’s worth $50.51 billion dollars.
Ashish likes the idea of decentralization and is very interested in how blockchain technology and the environment around cryptocurrencies and non-fungible tokens (NFTs) change.
Through his articles and research, he wants to help bring more attention to the rapidly growing cryptocurrency business. He plays video games, watches suspense movies, and does things outside when he’s not writing.
The information given is based on how the market is doing right now and may include the author’s personal opinion. Before you put any money into cryptocurrency, you should learn more about the market. Neither the author nor the magazine is responsible for any money you might have lost.
