Cryptocurrency analysis company Lookonchain made important warnings for the Illuvium (ILV) altcoin in its latest statement.
According to analysts, ILV, which has increased by 70% in the last month, may be pressured towards the sell side by some whales. Analysts reported that a famous cryptocurrency whale known as luggis.eth sold 20,000 ILV, or $1.33 million, at the peak of the ILV price. Following this sale, there was an approximately 13% decrease in the ILV price.
The famous whale in question currently holds 394,902 ILV ($26 million). This means that the whale holds approximately 10% of ILV's circulating supply.
In addition, analysts reported that another whale transferred 65,753 ILV, or $4.37 million, of altcoins to Binance about an hour ago. Although it is not known whether this transfer results in a sale, when whales transfer crypto money from their cold wallets to cryptocurrency exchanges, this generally results in a sale.
The whale who made the last sale currently has 65,559 ILV ($4.3 million). ILV price is trading at $67.07 at the time of writing and reached its peak value of $72.
*This is not investment advice.
