Token

Boost

Launchpool

Million

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-activity-sparks-interest-in-altlayers-launchpool-project-on-binance/" data-wpel-link="internal">Whale Activity Sparks Interest in AltLayer’s Launchpool Project on Binance</a><br></p>
<p style="text-align: justify">The giant cryptocurrency exchange <strong><a href="https://en.coin-turk.com/former-binance-ceos-travel-request-denied-amid-legal-troubles/" data-wpel-link="internal">Binance</a></strong>‘s 45th Launchpool project, AltLayer (ALT), is in the news due to whale activity. Designed to accelerate scaling for Web3, AltLayer aims to utilize Blockchain <a href="https://newslinker.co/category/technology/" data-wpel-link="exclude">technology</a> to develop decentralized applications and platforms, and today it came into the spotlight due to a transaction made by a whale-level wallet address.</p> 
<h2 style="text-align: justify" id="strong-whale-invests-3-million-in-altlayer-strong"><strong>Whale Invests $3 Million in AltLayer</strong></h2> 
<p style="text-align: justify"><strong>AltLayer</strong>‘s recent launch has been surrounded by excitement, and a significant transaction has caught the attention of market observers. A whale-level wallet address known as Rochee.eth, starting with 0xd4a…, withdrew 5.5 million ALT tokens from Binance. The wallet address purchased ALT tokens worth $3.054 million at an average price of $0.544 and withdrew them from Binance.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-318648" src="https://coin-turk.com/wp-content/uploads/2024/02/Altcoin-Balina.jpeg" alt="" width="650" height="615"></p> 
<p style="text-align: justify">On-chain data currently shows that the wallet address is the second-largest off-exchange/team ALT wallet address, highlighting the magnitude of this purchase.</p> 
<p style="text-align: justify">What makes this particular withdrawal noteworthy is the wallet address’s long period of inactivity before the transaction. Again, on-chain data reveals that the whale-level wallet address remained inactive for over eight months before suddenly becoming active and withdrawing a large amount of ALT tokens from Binance. Such sudden activity by a major investor has led to various speculations as analysts and investors seek to understand the motivations behind the ALT token transaction.</p> 
<h2 style="text-align: justify" id="strong-whale-transaction-could-boost-interest-in-alt-token-strong"><strong>Whale Transaction Could Boost Interest in ALT Token</strong></h2> 
<p style="text-align: justify">While crypto investors have been waiting for altcoins to make a directional move led by Bitcoin (BTC) in recent weeks, transactions made by whales continue to serve as an indicator of investor sentiment and market trends.</p> 
<p style="text-align: justify">The sudden movement of a wallet address that has been inactive for a long time and now controls assets worth over $3 million, purchasing ALT tokens after an eight-month hiatus, could be seen as an indicator of growing interest in the project and confidence in its future potential. This could, unsurprisingly, lead to a rise in the altcoin’s price.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/whale-activity-sparks-interest-in-altlayers-launchpool-project-on-binance/" data-wpel-link="internal">Whale Activity Sparks Interest in AltLayer’s Launchpool Project on Binance</a></h5>

Whale Activity Sparks Interest in AltLayer’s Launchpool Project on Binance

Table of Contents

COINTURK NEWS

Other articles published on Feb 23, 2024

This Indicator with Strong Track Record Flashes ‘Sell’ for Cardano’s ADA

StarkWare adjusts STRK unlock schedule as Bitcoin Dogs soars

Block Scores Big: $2.5 Billion In Bitcoin Sold In Q4, Sales Jump Nearly 40%

$88 or $140? Where will Solana head next?

Altlayer Whale Acquires 5.5M ALT from Binance Amid 10% Price Surge

Is AVAX Ready for a Bullish Surge? Crypto Expert Weighs In

Join our free newsletter for daily crypto updates!