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Whale Spends $121 Million To Buy Wrapped Bitcoin, FTX, LINK, Bancor, MATIC; Events To Watch on Ravencoin, Shiba Inu

Bitcoin dipped to fresh lows of $40,571 on Jan. 7 as its selloff accelerated. Bitcoin is set to mark the 6th consecutive day of selling pressure with no respite. The downward pressure trickled into the altcoin market, with several tokens sustaining losses between 3% and 15% at press time.

However, selected tokens such as Chainlink (LINK, +3.00%), Cosmos (ATOM, +1.14%), Dash (DASH, +6.63%), Secret (SCRT, +5.78%), Frax Share (FXS, +12.42%), Coin98 (C98, +4.82%) managed to suppress the selling pressure by trading in the green.

Whales typically utilize periods of dips to accumulate their favorite tokens at a discount. In the last 24 hours, whales’ surveillance platform WhaleStats reports that Large entities have bought tokens FTX, Enjin coin, LINK, Bancor, MATIC, Wrapped bitcoin worth millions of dollars as Bitcoin fell.

According to WhaleStats, an Ethereum whale ranked 557th has spent more than $121 million on recent acquisitiion. In separate transactions, the whale bought 4,250,000 MATIC ($8,797,500), 43 wbtc ($1,804,926), 1,049,990 FTX token ($36,518,652), 61,401 Chainlink tokens ($1,531,954), 1,408,969 FTX tokens ($49,003,959), 17,893 AAVE ($3,671,170 USD), 156 wbtc ($6,423,415), 224 wbtc ($9,221,340) and 1,544,974 bancor tokens ($4,727,623).

At the time of publication, Bitcoin trades at $41,830.

Events to watch on Ravencoin, Shiba Inu

Ravencoin (RVN)

The Ravencoin network is preparing for a halving event. Like Bitcoin, Ravencoin halves periodically, and this event will happen this Jan. 11th. Ravencoin halving is the event where the number of generated Ravencoin rewards per block will be halved (divided by 2).

The total number of Ravencoin mined by miners per block will reduce from 5,000 to 2,500 in the next Ravencoin halving at block 2,100,000, the number of Ravencoin found per block will become more scarce, and this halving reward ensures that Ravencoin’s total supply will reach 21 billion. This will continue with each subsequent 2,100,000 block until the reward amount can no longer be halved.

Shiba Inu (SHIB)

Crypto record label, Bigger Entertainment announced its burn campaign will continue with monthly burn events. 2022 kicks off with the Shib Lovers Campaign. Beginning on January 14th, 80% of all Shib Lovers proceeds will be used to burn. A Valentine’s day playlist will also be available for streaming & burning.

Shiba Inu team said in a tweet today, ”Working on amazing things, ShibArmy! Woof!”. Queenie, the SHIB Discord channel moderator, also confirmed that there will be a “big surprise when entering 2022” for the Shiba Inu community without disclosing further details.

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 08.01.2022

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