While bullish expectations for Bitcoin and altcoins increase, whales continue to accumulate.
At this point, Lookonchain announced that institutional investors and whales were accumulating the altcoin called GMX.
Accordingly, 6 new wallets created in the last two days purchased GMX worth $15.3 million.
“Whales/institutions are buying GMX and the GMX price is up ~24% in the last 2 days.
“In the last 2 days, 6 new wallets withdrew a total of 344,502 GMX ($15.3 million) from Binance.”
GMX, which rose to $46 with the rise it experienced in the last two days, continues to be traded at $43.8 at the time of writing.
Whales/institutions are buying $GMX, and the price of $GMX has increased by ~24% in the past 2 days.
6 fresh wallets withdrew a total of 344,502 $GMX($15.3M) from #Binance in the past 2 days.
Wallets:
0x68fdea13878d7ce741cc596db55564909d9ecc8a… pic.twitter.com/Err6YfdYrb— Lookonchain (@lookonchain) June 7, 2024
Apart from new whale wallets, Bitcoin whales are also in savings mode. According to CryptoQuant data, long-term Bitcoin investors and whales are purchasing large amounts of BTC.
*This is not investment advice.
