According to the WhaleStats tracker, numerous cryptocurrencies experienced high buying power from whale addresses that added more than $10 million worth of various coins to their addresses. MANA, SAND, MATIC, SHIB, LINK, and many other positions were among the tokens purchased.
Whales are most likely entering the accumulation stage and purchasing assets at a discount because they believe in a recovery, as seen by their great buying power on the market.
Source: WhaleStats
The market is experiencing an inflow of cash on March 8, according to the Bitcoin and total market capitalization chart, but it does not ignore the prior losses that Bitcoin and other cryptocurrencies have had in the last week.
Shiba Inu cryptocurrency has reclaimed top place as the largest USD-valued holding on whale addresses, thanks to a buying binge by whales. At press time, SHIB’s entire assets were valued at $1.6 billion, while FTT’s were valued at $1.4 billion.
The tokens are not surging up or demonstrating any form of positive volatility movement, according to Shiba Inu’s TradingView chart, indicating that the increase in the holding’s value is solely due to whale buying.
Other cryptocurrencies on the list, such as SAND, are also not performing well on the market, with only a 2% increase in the last 24 hours. SAND, SHIB, and MATIC are all exhibiting indications of recovery, but they haven’t recovered even half of their original worth.
According to statistics supplied, Chainlink remains one of the most actively bought altcoins by whales, but it also shows no signs of a substantial comeback and trades in the same downturn as other cryptocurrencies.
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