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The cryptocurrency market fell after the approval of bitcoin spot ETFs. However, many investors took advantage of the drop to buy more ethereum (eth) and Shiba Inu (SHIB). Pullix (PLX) is also attracting investor interest, raising more than $4.6 million in the ongoing pre-sale.
Whales double down on ethereum
ethereum fell recently. While some investors sold their eth, whales took advantage of the low prices to buy more.
According to Spot On Chain, a single whale purchased over $46 million worth of eth before staking on Lido, a staking liquidity platform.
Another whale spent $7.3 million to buy eth.
The increase in whale activity suggests that market participants are bullish on eth.
This optimism comes amid the ongoing debate over whether the US SEC will approve an ethereum spot ETF.
Pullix pre-sale draws attention
Pullix It combines the features of centralized and decentralized exchanges.
It offers a variety of income opportunities, including passive interest in liquidity provision and staking.
Pullix also provides investors with liquidity and slippage-based trading for fast and efficient trading.
In the ongoing pre-sale, PLX changes hands for $0.10. Analysts expect further growth once it launches later in the first quarter of 2024.
Whales buy more Shiba Inu
Onchain data shows that whales are accumulating more Shiba Inu (SHIB) and eth.
According EtherscanAn anonymous whale purchased over 606 billion SHIB, bringing his total SHIB holdings to over 1 trillion coins.
So far, Shibarium, a Layer 2 solution, has processed over 300 million transactions, averaging 1.2 million to 7.8 million transactions per day.
This rally could support prices.
Final thoughts
The price drop prompted whales to buy more eth and SHIB. At the same time, the growing demand for PLX shows the potential of Pullix.
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