Whales significantly influence Litecoin, AVAX, and Floki prices.
Litecoin saw a 15% rise due to whale activities.
Floki experienced a 5.45% drop after a brief rise.
The fluctuating price movements in cryptocurrencies continue to be a noteworthy process, partly due to some investor groups’ efforts to turn this to their advantage. During this process, the actions of whales have been observed, and the cryptocurrencies they target have been of particular importance.
Litecoin (LTC) Comments
According to data provided by IntoTheBlock, whales have transacted $3.32 billion worth of Litecoin (LTC). These whale activities appear to have paved the way for LTC’s price to rise over 15% in the last 7 days, contrary to the market trend.
It was noted that more than 50% of these transactions were carried out by whales, suggesting that the existing interest in the market might be part of a long-term investment rather than artificial interest.
On the other hand, looking at the price of Litecoin (LTC), it has increased by 0.50% in the last 24 hours. After this rise, the price continues to trade at the $69 level.
AVAX and Whale Activity
Another project where whale transactions have been notable is AVAX, once referred to as an Ethereum killer alongside Solana.
According to data provided by IntoTheBlock, the number of whale addresses holding between 100,000 and 10 million AVAX has increased. The price drops in AVAX have whetted the appetite of whales for purchases, as reflected in the charts.
As of the time of writing, AVAX continues to find buyers at the $25.49 level. This price level means a 1% drop in the last 24 hours, while in the last seven days, the AVAX price has increased by 2.77%.
If the declines in AVAX continue, whale purchases may persist next week, potentially paving the way for the price to rise from the levels it has fallen to.
Floki (FLOKI) Comments
Floki (FLOKI), one of the older representatives of dog-themed meme coins, appears to be hosting purchases by crypto whales.
Data provided by Santiment in the second week of July revealed that investors holding over 1 billion FLOKI were making more purchases.
Generally, such purchases are known to bring about price increases. Amid the fluctuating price movements throughout the week, FLOKI rose to $0.00015. Subsequently, the meme coin succumbed to the market downturn, dropping to $0.0001413 with a 5.45% decrease in 24 hours.
