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The crypto market fell following the approval of spot Bitcoin ETFs. However, many investors took advantage of the dip to buy more Ethereum (ETH) and Shiba Inu (SHIB). Pullix (PLX) is also drawing investor interest, raising over $4.6 million in ongoing presale.
Whales double down on Ethereum
Ethereum recently fell. While some investors sold their ETH, whales took advantage of the low prices to buy more.
According to Spot On Chain, a single whale bought over $46 million worth of ETH before staking on Lido, a staking liquidity platform.
Another whale spent $7.3 million to purchase ETH.
The increased whale activity suggests that market participants are bullish on ETH.
This optimism is amid the ongoing debate on whether the U.S. SEC will approve a spot Ethereum ETF.
Pullix presale draws attention
Pullix combines the features of centralized and decentralized exchanges.
It offers a variety of earning opportunities, including passive interest in liquidity provision and staking.
Pullix also provides investors with liquidity and slippage-based trades for fast and efficient trading.
In the ongoing presale, PLX is changing hands for $0.10. Analysts expect more growth once it launches later in Q1 2024.
Whales buy more Shiba Inu
Onchain data shows that whales are stacking up more Shiba Inu (SHIB) and ETH.
According to Etherscan, an anonymous whale purchased over 606 billion SHIB, bringing their total SHIB holdings to over 1 trillion coins.
So far, Shibarium, a layer-2 solution, has processed over 300 million transactions, with an average of 1.2 million to 7.8 million transactions per day.
This uptick might support prices.
Closing thoughts
Falling prices spurred whales to buy more ETH and SHIB. At the same time, the increasing demand for PLX shows Pullix’s potential.
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