Giant Whale Makes a Big Sale in Altcoin, Up 100 Percent in One Week

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Bitcoinsistemi2024/12/07 18:00

By:Mete Demiralp

According to Onchain data, a crypto whale made a massive sale of the rallying altcoin.

According to data provided by cryptocurrency tracking platform Arkham, a crypto whale has made a significant move following recent changes in the market.

According to the data, a Reserve Protocol (RSR) whale with the short address 0xaa…17b3 sent 680 million RSR tokens to Binance today. This amount corresponds to $12.84 million in dollar terms. As is known, the RSR token has experienced a major rally in the last seven days, experiencing a more than 100% increase in price.

The reason for the rise is thought to be US President-elect Donald Trump’s nomination of Paul Atkins, a cryptocurrency ally, for SEC Chairman. Atkins served as an advisor to the Reserve Protocol. Atkins, who is also a former SEC member, is believed to be a name that will breathe new life into the entire cryptocurrency market.

Related News An Unpleasant Development for Cryptocurrencies at the SEC Could Happen Before the Trump Administration Takes Over

RSR, which is also listed on Binance, has a market cap of around $1 billion at the time of writing. On the other hand, the token is trading 84% lower than its all-time high price recorded in 2021.

*This is not investment advice.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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President-elect Donald Trump is open to creating an “America-first” crypto reserve prioritizing U.S.-based coins like USDC, SOL and XRP, the New York Post reported, citing sources familiar with the matter.XRP hit a new all-time high of around $3.39 via major crypto exchanges on Thursday for the first time since January 2018, following a 16% surge in 24 hours and a 455% rise over the past quarter.A Litecoin ETF is the “most likely” next spot crypto ETF to be approved in the U.S., according to Bloomberg anal

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