Whales Buy Millions Worth of DYDX Over the Last Month: Analyst

  • This happened despite the negative market sentiment surrounding DYDX.
  • DYDX is currently trading hands at $2.45 after a 4.35% price increase.

Well-known crypto analyst Ali took to Twitter this morning to share some insights about the market sentiment as well as some of the buying habits of altcoin whales at the moment. According to the post, whales have been accumulating DYDX worth more than $24 million over the last month.

DYDX price vs. weighted sentiment (Source: Santiment)

The analyst believes that this is worth taking note of as the market sentiment surrounding DYDX is rather negative at the moment. Despite this, whales still ended up buying more than 10 million DYDX over the last month.

DYDX / Tether US 1D (Source: TradingView)

Looking at DYDX’s performance over the last 24 hours, CoinMarketCap indicates that the altcoin is currently trading hands at $2.45 after a 4.35% price increase. The crypto was also able to reach a high of $2.53 and a low of $2.36 over the same time period. In addition to this, DYDX was able to strengthen against Bitcoin (BTC) and Ethereum (ETH) by about 3.13% and 2.37% respectively.

The weekly performance of DYDX is also looking up as the crypto is up by more than 3% over the last seven days. DYDX’s 24-hour trading volume is currently in the green zone, and stands at $120,246,896 after a more than 72% increase since yesterday.

With its market cap of $382,032,360, DYDX is currently ranked as the 102nd biggest crypto in terms of market capitalization. This placed it right behind Osmosis (OSMO) in the 101st position and in front of WOO Network (WOO) which is ranked 103rd on the list of the biggest cryptos.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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