Bitcoin has fallen by 1.4% in the last 24 hours, dropping to around $62,000. This has also affected altcoins, with other major altcoins like Ethereum and XRP also showing a decline.
According to CoinMarketCap data, Velvet (VELVET) was the top-performing altcoin in the last 24 hours with a 38% gain. It was followed by Ether.fi (ETHFI), Cosmos (ATOM), and MemeCore (M).
In contrast, altcoins such as Venice Token (VVV), LayerZero (ZRO), and Lighter (LIT) were among the biggest losers.
While the altcoin market experienced both rises and falls, whale activity continued.
According to Lookonchain, a cryptocurrency analysis platform, a whale with the address 0x117f traded in the altcoin ASTER. Specifically, the whale opened a 4x long position of 7.2 million ASTER ($4.33 million) and staked 4.02 million ASTER ($2.42 million) for four years.
Another whale, with the address 19pFLW, bought another 300 Bitcoin (worth $19.03 million) approximately five hours ago, increasing his Bitcoin holdings to 1,120 (worth $70.43 million).
According to Lookonchain’s report, another whale traded in the altcoin HYPE. This whale, who had previously sold HYPE, this time sold 923,743 HYPE (worth $53.02 million). Initially holding 2.93 million HYPE (worth $163.37 million), this whale had sold 1.03 million HYPE (worth $57.44 million) approximately two weeks ago. With this latest sale, they still hold 969,595 HYPE (worth $55.5 million).
Finally, Lookonchain reported that address 0x66f8, known as the largest on-chain BTC bear, closed its $136 million short position, making a profit of $1.65 million. Following this profit-taking, this whale moved into a long position in Bitcoin with 40x leverage.
*This is not investment advice.
