Summarize the content using AI
Altcoin investors continue to closely follow ORDI with great interest after its sharp rise. The price of Altcoin has increased by over 500% in the past month, but turned downward after negative tweets from Bitcoin core developer Luke Dashjr. Now the question arises: are the whales selling ORDI, or are they continuing to hold and even accumulate? Let’s take a closer look.
Whales Continue to Accumulate ORDI
On-chain data provider Lookonchain has provided important data for ORDI. According to the latest data, ORDI is currently trading at $48.95, down 4.63% in the last 24 hours. Despite the selling pressure on the altcoin after Dashjr’s negative tweets, data shows that the whales are maintaining their calm and not selling.
In particular, the top 30 ORDI investors currently hold a total of 16.78 million ORDI, valued at $950 million. This figure represents 79.94% of the total supply. Compared to November 9th, on-chain data indicates that the distribution of ORDI among these wallet addresses has become even more concentrated. Furthermore, the top 50 ORDI investors currently hold a total of 12.4 million ORDI worth $143 million, equivalent to 58.95% of the total supply.
On-chain data suggests that crypto whales have been accumulating ORDI intensively lately. In particular, two crypto whale investors have purchased a total of 57,299 ORDI worth $3.15 million from Bybit, Gateio, KuCoin, and Binance exchanges since May 20th. Data indicates that these two crypto whale investors are the second and tenth largest ORDI investors, respectively.
Furthermore, data shows that some crypto whale investors accumulated ORDI just before the price increase and are still holding without selling. For example, a wallet address starting with bc1q8 purchased 149,999 ORDI worth $2 million from Binance and Gateio at an average price of $13.5 between May 22nd and November 27th, while a wallet address starting with bc1qr purchased 184,637 ORDI worth $4.26 million at an average price of $23 between November 17th and 23rd.
The top 10 wallet addresses marked with a red line in the table above currently hold a total of 1.2 million ORDI worth $68 million. These investments were obtained entirely through minting and have not been sold yet.
Very Limited Number of Whales Selling ORDI
On the other hand, after the negative tweets from Bitcoin core developer Dashjr, it is noticeable that a very limited number of crypto whale investors have transferred ORDI to crypto exchanges in order to take profits as quickly as possible.
A wallet address starting with bc1pu sold 59,000 ORDI worth $3.54 million just before the price of the altcoin dropped, making a profit of approximately $2.3 million.
