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Market Pullback After the New Year Holidays
The market has experienced a significant pullback as the New Year holidays come to a close. Major cryptocurrencies have seen substantial declines, with Bitcoin currently trading at $95,000, down by 6%, and Ethereum dropping to $3,300, reflecting a 9% decrease.
Notable declines have been observed in altcoins as well. $Ai16z has seen a substantial drop of 17%, alongside other tokens such as $HYPE and $ENA, which also fell by 17% and 16%, respectively. This market volatility has led to a notable uptick in liquidations, with a total of $631 million in long positions wiped out over the past 24 hours.
Market Overview
The market has pulled back following the end of the New Year holidays. Bitcoin is trading at $95K (-6%) and Ethereum at $3.3K (-9%). Notable declines include $Ai16z (-17%), $HYPE (-17%) and $ENA (-16%). In the past 24 hours, $631M worth of long positions have been liquidated.
Whale Activity: $Ai16z and Other Holdings
A prominent whale from the $Ai16z holdings (address: TOP7 Whale) made waves by selling 1.9 million $Ai16z tokens through the trumpet E9uDt…bY9cf address three hours ago. This sale was valued at approximately $3.67 million. In the past month, this whale opened a position worth 19.83 million $Ai16z tokens at an average price of $0.5057, investing over $10 million. Despite the recent sell-off, they still hold 17.43 million tokens, showing a floating profit of $23.04 million and a return of 260%.
Source: nulltx.com
