Recent significant whale movements in Raydium (RAY) and Bounce (AUCTION) have drawn the attention of the crypto market participants.
Whales Withdraw RAY and AUCTION
According to data shared by the crypto analyst, a new wallet withdrew 160,700 AUCTION tokens worth $2.45 million from Binance. Four hours later, another wallet withdrew 1.168 million RAY valued at $2.3 million from Binance and then staked them into Raydium. The timing of these acquisitions indicates a coordinated effort among big investors.
RAY and AUCTION Price Updates
Bounce is experiencing an impressive uptrend with remarkable buying pressure, with AUCTION's price up 93.8% over the past month and 23% over the past week. On the other hand, Raydium has been facing increased selling pressure, leading to a price drop of 62.3% over the past month and 56.3% over the past two weeks.
Long-term Potential of DeFi Tokens
Whale activities often precede significant price fluctuations in the crypto market. The recent outflows from Raydium and Bounce suggest positive shifts in the near term. These accumulations indicate strong investor and trader interest in these DeFi tokens and confidence in their long-term potential.
The whale movements in Raydium and Bounce show potential for future market changes, with price updates reflecting strong trader engagement.
