Over the past 24 hours, Bitcoin fell by 1.4%, dropping to around $62,000. This also affected altcoins, with other major altcoins like Ethereum and XRP also showing negative trends.
According to CoinMarketCap data, Velvet (VELVET) became the most profitable altcoin over the last 24 hours, showing a 38% increase. It was followed by Ether.fi (ETHFI), Cosmos (ATOM), and MemeCore (M).
In contrast, altcoins such as Venice Token (VVV), LayerZero (ZRO), and Lighter (LIT) were among the biggest losers.
Although the altcoin market experienced both ups and downs, activity from major players remained steady.
According to data from the cryptocurrency analysis platform Lookonchain, a major investor with the address 0x117f traded the altcoin $ASTER. Specifically, they opened a long position 4 times the nominal value for 7.2 million $ASTER ($4.33 million) and staked 4.02 million $ASTER ($2.42 million) for four years.
Another major investor, with the address 19pFLW, purchased an additional 300 Bitcoins (worth $19.03 million) approximately five hours ago, increasing their Bitcoin holdings to 1,120 (worth $70.43 million).
According to a Lookonchain report, another major investor executed a trade with the altcoin $HYPE. This investor, who had previously sold $HYPE, this time sold 923,743 $HYPE (worth $53.02 million). They initially held 2.93 million $HYPE (worth $163.37 million) but sold approximately 1.03 million $HYPE (worth $57.44 million) about two weeks ago. After this latest sale, they have 969,595 $HYPE left (worth $55.5 million).
Finally, Lookonchain reported that a user with the address 0x66f8, known as the largest 'bear' on the BTC network, closed their $136 million short position, realizing a profit of $1.65 million. After taking profit, this 'whale' switched to a long Bitcoin position with 40x leverage.
*This is not investment advice.
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