- The ETH bought has slipped into loss but there is a good chance of recovery in the short term.
- LINK’s buying momentum had become weak, suggesting a drop below $15.
- SNX may fall below $3.55 but it could be a good entry point for long-term holders.
Amid the recent market rally, one whale wallet has been spotted going on a buying spree for particular cryptocurrencies. Some of these altcoins include Ethereum (ETH), Chainlink (LINK), and Synthetix (SNX), according to on-chain analytics provider Lookonchain.
Previously on November 6, Lookonchain spotted a certain ‘smart money’ wallet accumulating LINK, and it appears they have been back at it again. Most recently, the wallet bought 400,625 LINK at $13.71. They also acquired 425.5 ETH at an average price of $2,210 and $110,000 worth of SNX at an average price of $3.85.
2/ The whale is long $ETH.3 hours ago, the whale withdrew 450 $ETH($987K) from #Bybit, deposited it into #Aave and borrowed 1M $USDT, then used the 1M $USDT to buy 452.5 $ETH at $2,210. pic.twitter.com/qogG0IyPuj
— Lookonchain (@lookonchain) December 4, 2023
Considering the market prices at press time, their LINK buy would still be in pro…
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