According to recent developments and metrics, whales are showing bullish activity towards three cryptocurrencies - Bitcoin (BTC), Cardano (ADA), and RenQ Finance (RENQ). The Cardano ecosystem has seen a spike in whale activity which could potentially push the ADA price higher. Bitcoin (BTC) remains bullish as whales continue to accumulate. Additionally, Santiment reports rising whale and shark activity in the last week for Cardano (ADA), with nearly 138 million ADA accumulating. The whales' movements and transaction count can cause visible shifts in the market, with high asset price volatility.
The new market entrant, RenQ Finance (RENQ) hasn’t been left behind either. RenQ Finance (RENQ) has continued to dominate in presales, raising over $2 million in just 2 rounds of presale. In addition, the third round is on its way to outmatch the previous two rounds as more and more investors flock to the presale.
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Big investors Opt for Cardano
According to Santiment's on-chain analytics, there are plenty of reasons to be positive about Cardano (ADA) right now, despite the Cardano (ADA) price has had a relatively gloomy 2022. The year-to-date rise of nearly 45% has spurred new optimism even if the all-time peak of $3.09 on September 2021 remains -88.28% away.
Transactions by significant Cardano (ADA) network investors are encouraging, according to the on-chain analytics company. At the beginning of February, there has been a significant increase in the volume of Cardano (ADA) whale transactions.
On average, there are suddenly 1,700 Cardano (ADA) transactions of $100k or more daily. This is a significant increase compared to the roughly 300 $100k+ transactions per day that occurred throughout January.
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Why Whales are Bullish on Bitcoin
Crypto whales have now started accumulating BTC again. Data from on-chain aggregator Santiment shows that large Bitcoin (BTC) whales holding between 1,000-10,000 BTC are accelerating their accumulation. Over the last five days, these large investors have added more than 20,000 Bitcoins (BTC) to their balances, making it a significant accumulation trend. As a result, these bitcoin whales now hold a total of 4.57 billion Bitcoin (BTC). This figure represents 23.7% of the total circulating Bitcoin (BTC) supply, suggesting that this accumulation may have factored into the recovery trend of Bitcoin (BTC) over the last two days. This accumulation is seen as a bullish sign for Bitcoin (BTC) as we get closer to the Bitcoin (BTC) halving event in 2024.
RenQ Finance (RENQ) Has also been Attracting the Attention of Whales
RenQ Finance's (RENQ) unique and comprehensive DeFi solutions have caught the attention of individual investors and whales. RenQ Finance's (RENQ) community-driven approach and multi-chain DEX have been attracting more and more interest from investors seeking an all-in-one platform for trading.
RenQ Finance (RENQ) liquidity is derived from multiple exchanges, allowing for competitive pricing and endless liquidity. Its community-driven governance model ensures that the platform is continuously improving and adapting to meet the needs of its users. The RenQ Finance (RENQ) token governs the platform and has already seen significant interest, with the first stage of its presale selling over 100,000 tokens on the first day. RenQ Finance (RENQ) recently sold out the second stage. By the end of this stage, RenQ had raised over $2 million. The third stage is now underway and over 50% sold out.
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RenQ Finance's (RENQ) innovative approach to DeFi offers several advantages over traditional financial systems. Its decentralized protocols provide a range of crypto-based financial products, including derivatives and margin trades, without needing a regulated central clearing house. This also gives investors a wide pool of liquidity to choose from to maximize profits.
The RenQ wallet powers the RenQ ecosystem. The RenQ Wallet app provides users with a direct trading option, promoting decentralized trading. It also powers a variety of DeFi functions on RenQ Finance (RENQ), including Swapping, Staking, Lending, and Borrowing. Through the wallet app, RenQ Finance can seamlessly provide users with centralized functionalities in a decentralized space without sacrificing security.
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In addition, it gives users complete control over their funds when trading, as well as Two-Factor Authentication (2FA) as an added layer of security.
You can invest in the RenQ presale campaign today on the protocol’s official website. RenQ is currently trading at a dynamic presale price of $0.30. Market analysts predict a rally to $1.5 shortly after launch. In addition, during the 2024-25 bull run, RENQ is expected to trade between $10 and $15.
Visit the links below for more information about RenQ Finance (RENQ):
Website: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf
