Whales Keep Trading as Bitcoin Falls

Despite Bitcoin's recent decline by 1.4% to around $62,000 over the last 24 hours, 'whales', large cryptocurrency holders, were active in the altcoin market.

According to data from CoinMarketCap, Velvet (VELVET) was the top-performing altcoin with a 38% gain, followed by Ether.fi (ETHFI), Cosmos (ATOM), and MemeCore (M).

However, other altcoins like Venice Token (VVV), LayerZero (ZRO), and Lighter (LIT) experienced significant losses.

Lookonchain's analysis platform reported that several whales engaged in various trades. One whale with the address 0x117f opened a long position of 7.2 million $ASTER ($4.33 million) and staked 4.02 million $ASTER for four years.

Another whale, with address 19pFLW, purchased approximately 300 Bitcoin (worth $19.03 million), increasing his holdings to 1,120 (worth $70.43 million).