Aave Records 106 Transactions Worth $100,000 While LRC Network Surge In January

Loopring has increased by 113% in the last 30 days. And, in the last several days, the LRC network has seen a surge in transactions worth more than $100,000.

? Big whale transaction numbers are showing up on several #altcoin networks today. This doesn’t necessarily mean a dump is in progress, but it does indicate that increased volatility is likely. Check out our insight covering $LRC, $AAVE, $DYDX, & $CRV. ? https://t.co/pxmEhyhfP5 pic.twitter.com/BzWiKne77z

— Santiment (@santimentfeed) February 3, 2023

Interestingly, the whale trades from yesterday occurred after the coin showed modest indications of correcting, causing prices to skyrocket even higher. However, the spike that occurred today occurred as the asset appeared to be losing steam.

Aave has yet to reach the level of Loopring. However, a price increase of +65% in the last 30 days is still extremely amazing. Over the last few weeks, it can be seen three similar-sized whale transactions have increased. The largest of which does indicate a peak. Though 106 $100k+ transactions were recorded, they were not as many as the 129 recorded on January 16th. Regardless, this appears to be a red flag.

Over the last 30 days, DYDX’s native token has been on a tear. It is now +173% after reaching a high of +207% on January 1st. Whale deals have evolved alongside the asset. The coin is only a little more than two years old, and it has benefited greatly from the FTX collapse. So this could really be a hint of additional whales rushing in to trade one of the most volatile coins in crypto right now.

Besides, one of the few crypto analysts who purchased Bitcoin (BTC) at the bottom in November, claims that the Ethereum rival and interoperability protocol Cosmos (ATOM) currently has one of the greatest charts available.

DonAlt believes ATOM has significant resilience after surviving a tough bear market, if Bitcoin does not see a big meltdown. ATOM appears to desire to overcome resistance and rally from its present price of around $15 to $22 – a 46% increase, according to DonAlt.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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