TL;DR
- Loom Community (LOOM) noticed a 30% worth surge, reaching a 5-year excessive of $0.28, probably influenced by an Upbit investor buying over 21M LOOM price round $6 million.
- This investor now holds 653 million LOOM belongings, equating to 50% of the entire circulating provide.
- Main cryptocurrencies like Bitcoin, Ether, and others are on a decline, with international market capitalization dropping beneath $1.1 trillion.
The cryptocurrency market appears to be in a bearish mode, however a number of tokens are nonetheless effectively within the inexperienced. One such instance is Loom Community (LOOM).
The asset has charted a considerable 30% achieve right now (October 13), reaching a 5-year excessive of roughly $0.28. Within the following hours, it barely retraced to $0.27 (the place it trades as of the second of writing these traces).
The worth improve coincided with the motion of a sure Upbit investor who bought over 21M LOOM, equaling nearly $6 million.
The whale at present owns 653 million belongings ($181 million), representing an astonishing 50% of the entire circulating provide.
The worth of $LOOM skyrocketed by ~30% right now.
The pockets suspected of #Upbit gathered 21.42M $LOOM ($5.83M) right now.
And the pockets at present holds 653M $LOOM ($181M), 50% of the entire provide.https://t.co/oergGUqAgo pic.twitter.com/TO9ZqSCw64
— Lookonchain (@lookonchain) October 13, 2023
Opposite to LOOM, the main cryptocurrencies – Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), Ripple (XRP), and lots of extra proceed bleeding, whereas the worldwide market capitalization plunged beneath $1.1 trillion (per CoinGecko’s information).
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