TL;DR
- Apecoin (APE) has seen a 93% increase in its price over 48 hours, driven by deposits of $11.8M on OKEX and $7.7M on Binance.
- The “Age Consumed” indicates that previously inactive coins are moving, suggesting that whales may be taking profits.
- Neiro (NEIRO) has increased by 110.7% over 30 days, but deposits over $1 million have decreased, indicating stabilization in whale activity.
Apecoin (APE) has experienced a 93% increase in its price over the last 48 hours, solidifying its position as one of the best-performing cryptocurrencies in the market.
Its rise was accompanied by two large deposits on centralized exchanges: $11.8 million on OKEX and $7.7 million on Binance. This indicates interest from investors and is related to an increase in “Age Consumed,” which indicates the movement of previously inactive coins. This dynamic suggests that whales may be taking profits, which is a common indicator during times of price volatility.
Data from Santiment’s Centralized Exchange Deposit Dashboard also reveals that deposits over $1 million in Apecoin increased following the recent price surge. However, it is important to note that moving these large amounts to exchanges does not always imply an immediate sale. Often, whales are preparing their assets to sell at specific points they consider strategic.
The Contrast Between Apecoin (APE) and Neiro (NEIRO)
On the other hand, Neiro (NEIRO) has shown strong performance, with a 110.7% increase in its price over the past 30 days. Despite the rise, deposits over $1 million have decreased, indicating that whale activity in this token has stabilized. As the year comes to a close, Neiro’s future performance will largely depend on the overall behavior of the crypto market. While there has been some volatility, no drastic declines are anticipated.
The contrast between Apecoin and Neiro highlights different whale behaviors in response to market movements. While Apecoin attracts large deposits and possibly profit-taking strategies, Neiro seems to be consolidating after its recent rise. These patterns provide traders with valuable signals about the current dynamics in the crypto market and how the decisions of large investors may influence the future of both tokens
