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Employees of the analytical company Santiment recorded an increase in the activity of cryptocurrency whales on October 31.
Tether (USDT) and USD Coin (USDC) stablecoin transactions worth over $100,000 increased several times on Monday, according to the firm.
There was also an increase in the number of transfers of 1inch (1INCH) tokens issued by the 1inch decentralized exchange and Golem (GLM) tokens developed by the Golem Network platform, which provides information technology services.
Change in the number of transactions with cryptocurrencies in the amount of more than $ 100,000
According to Santiment experts, the increase in the activity of moneybags indicates a continuation of the upward trend in the digital asset market. True, over the past day, the rate of Golem and 1inch has changed slightly.
At the same time, large transactions were recorded not only in the stablecoin markets, 1INCH and GLM. On October 31, analysts noticed a transfer of $44.7 million worth of bitcoins from the Bitfinex exchange.
As a rule, crypto whales withdraw coins from trading platforms to their wallets in order to store them for a long period of time. Accordingly, the transaction serves as another confirmation of the upcoming pump of the BTC rate.
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