Recently, the significant crash in the cryptocurrency market has left investors uneasy, while whales have begun to view the sharp declines as a buying opportunity. According to on-chain data, some large investors have shown considerable interest in Pepe (PEPE) and Hype (HYPE) tokens.
With the total market value losing approximately 800 billion dollars, large addresses have started buying again. Data from the on-chain analytics platform Lookonchain indicates that, particularly for the Pepe token, a transaction of 657.8 billion PEPE, worth about 4.44 million dollars, was executed. This purchase was made by a whale named qianbaidu.eth on the Binance platform, and the tokens were transferred to their wallet. Additionally, the whale sent 8.67 million USDC to the decentralized derivatives exchange Hyperliquid for Hype acquisition.
Furthermore, another large investor, 0x2bfb, purchased 600.88 billion PEPE by spending a total of 4.97 million USDT. At the same time, the wallet 0x9b83 made a purchase of 140,145 HYPE (approximately 5.5 million dollars). It was also detected that this wallet opened long positions for both Bitcoin (BTC) and Hype.
Analysts suggest that these movements by whales could be part of a strategy to accumulate at the market's bottom. Typically, large investors provide liquidity to the market during sharp sell-off periods to take long-term positions. Such purchases can carry significant signals for investors and may indicate the beginning of a new trend in the crypto market.
The most important points for investors to pay attention to during this period are the movements of big addresses and which tokens they are targeting. These purchases made during the decline may signal a potential recovery for the market.
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