The latest transfers on the giant cryptocurrency exchange attracted the attention of many experts. Experts report that smart money collects this altcoin project instead of the leading cryptocurrency Bitcoin (BTC)! Here are the details…
Smart money turned to DYDX instead of Bitcoin!
On-chain analytics platform Lookonchain has published information about transactions made by a “Smart Money” that makes important transactions on the giant cryptocurrency exchange. The data is claimed that Smart Money trades at the most opportune times, resulting in significant returns. As we have previously quoted as Kriptokoin.com, the smart investor, who allegedly owns 983,602 DYDX Coins of 2.42 million dollars, continues to invest in DYDX in the market where the relevant investors are called Smart Money. Lookonchain shared a two-part Twitter thread explaining Smart Money transactions, along with screenshots of transactions. The tweet by the on-chain analytics platform Lookonchain is as follows:
According to data transmitted by the on-chain data analytics platform Lookonchain, “Smart Money” previously bought $210,438 worth of DYDX coins from the giant cryptocurrency exchange Binance at an average price of $2.37, and transferred them back to Binance at an average of $2.8, making huge profits. had done. These transfers by smart money caught the attention of many investors as they suggested that “Smart Money” is on the rise in DYDX and sees potential in its future.
Smart Money transfers large amounts of altcoin DYDX
However, according to experts, the recent $1.43 million worth of DYDX coin transfers show that ‘Smart Money’ has doubled investments on the platform. The transfer has undoubtedly caught the attention of the crypto community as well, and many will be watching to see how the asset’s investment in the platform turns out in the near future. Lookonchain emphasized trades to encourage their followers to trade strategically. However, “Smart Money” has taken the opportunity offered by DYDX coin to its advantage.
On the other hand, dYdX, a platform where users can access DeFi services such as lending, borrowing, margin transactions, perpetual contract transactions and spot transactions, is a favorite of many investors. The popular altcoin project has lost 2.7 percent in the last 24-hour period and is trading at $2.54. However, DYDX captured a trading volume of $223 million in 24 hours and ranks 111th on CoinMarketCap with a market cap of $387 million.