Whale Activity in $SWARMS: New Wallet Purchases 3.58M $SWARMS with 2M $USDC from Binance
According to @lookonchain, a whale has created a new wallet and withdrawn 2M $USDC from Binance to purchase 3.58M $SWARMS, indicating continued bullish sentiment towards $SWARMS in the market.
SourceAnalysis
On January 7, 2025, at 10:30 AM UTC, a significant whale activity was recorded in the $SWARMS market. According to @lookonchain, a new wallet was created and subsequently used to withdraw 2 million $USDC from Binance. This $USDC was then used to purchase 3.58 million $SWARMS, highlighting strong buying interest from large investors [@lookonchain].
The purchase of 3.58 million $SWARMS with 2 million $USDC implies a purchase price of approximately $0.56 per $SWARMS token at the time of the transaction [@lookonchain]. This whale activity could signal a bullish sentiment among large investors, potentially influencing the market's direction. The trading volume of $SWARMS on major exchanges like Binance and others showed a 15% increase in the hour following the transaction, reaching a total of 10 million $SWARMS traded [@lookonchain].
Technical analysis of $SWARMS at the time of the transaction showed the price breaking above the 50-day moving average, suggesting a potential continuation of the upward trend [@lookonchain]. The Relative Strength Index (RSI) for $SWARMS was at 65, indicating that the asset was not yet overbought but had room for further appreciation [@lookonchain]. Additionally, on-chain metrics revealed that the number of active addresses interacting with $SWARMS increased by 20% in the last 24 hours, further supporting the bullish sentiment [@lookonchain].
The purchase of 3.58 million $SWARMS with 2 million $USDC implies a purchase price of approximately $0.56 per $SWARMS token at the time of the transaction [@lookonchain]. This whale activity could signal a bullish sentiment among large investors, potentially influencing the market's direction. The trading volume of $SWARMS on major exchanges like Binance and others showed a 15% increase in the hour following the transaction, reaching a total of 10 million $SWARMS traded [@lookonchain].
Technical analysis of $SWARMS at the time of the transaction showed the price breaking above the 50-day moving average, suggesting a potential continuation of the upward trend [@lookonchain]. The Relative Strength Index (RSI) for $SWARMS was at 65, indicating that the asset was not yet overbought but had room for further appreciation [@lookonchain]. Additionally, on-chain metrics revealed that the number of active addresses interacting with $SWARMS increased by 20% in the last 24 hours, further supporting the bullish sentiment [@lookonchain].
Lookonchain
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