It is quite natural to take profits when there are price increases in the world of cryptocurrency. We see that the DYDX whale has made such a move. For this purpose, the cryptocurrency exchange Kraken has received DYDX. Let’s take a look at the details.
Altcoin DYDX Whale Takes Action
DYDX has attracted attention with its recent price increase. The increase, especially in the last 24 hours, is remarkable in the cryptocurrency market. Accordingly, it seems that a whale also wants to take advantage of the increase after a 30% increase. For this purpose, it is moving its DYDX holdings. Lookonchain reported this development on page X.
This influential player has deposited 1 million DYDX tokens worth $4 million into the Kraken exchange. It is noteworthy that this move was made at a time of price increase. If the tokens are sold at the peak of the fluctuation, an important result emerges. Accordingly, it shows that the whale can make a significant profit of approximately $1.5 million.
Market Overview
When we look at the price of Bitcoin, which is the subject of this attention-grabbing move by the whale, we see that it has experienced a loss of nearly 3%. Bitcoin is currently trading at $35,751. Bitcoin currently has a market value of approximately $696 billion.
The second largest cryptocurrency by market value, Ethereum, is trading at $1,988 as we write this article. Ethereum has experienced a decrease of nearly 4% in the last 24 hours. Ethereum has a market value of $239 billion. Finally, when we look at the price of DYDX, the altcoin is trading at $4 with a 27% increase. Altcoin DYDX currently has a market value of $718 million.
