The month has just begun, but the crypto market is already sharply declining. Not everyone is sitting on their hands.
Large crypto investors, in particular, appear to see buying opportunities in the recent price drops. They are massively buying cryptocurrencies, but these might not be the ones you would expect.
Pippin Surges 30% in 24 Hours #
While many crypto prices are falling, the cryptocurrency Pippin is shooting up. It’s a cryptocurrency developed by artificial intelligence.
In the past 24 hours, the token has risen by approximately 30%. At the time of writing, Pippin is worth just over €0.17.
The rise is accompanied by strong accumulation by large crypto investors, also known as whales. According to data from platform Nansen, crypto whales have invested a total of about €6.8 million in Pippin in the past 24 hours.
FartCoin Rises 11% in 24 Hours #
The most popular coin among crypto whales at the moment appears to be FartCoin, a so-called memecoin. This is a coin without inherent value, focused on viral content and community.
According to Nansen data, the 100 largest FartCoin holders have increased their holdings by about 4.8% in the past 24 hours. This means FartCoin whales have bought more than 32.4 million coins in a day, which is worth €8.75 million at the current price.
The price of FartCoin has therefore risen sharply. In the past 24 hours, the price has increased by more than 10.5%, to the current price of €0.28. This price is still 7% lower than a month ago.
Uniswap Declines Despite Strong Accumulation #
Another coin that appears popular among large crypto investors is Uniswap, the token of the decentralized crypto exchange of the same name.
According to data from analysis firm Santiment, crypto whales have bought nearly one million coins in the past 48 hours.
Despite the strong accumulation by whales, the price of Uniswap has fallen by 2.5% in the past 24 hours. At the time of writing, the token is worth €4.68.