Whale withdraws $2.455 billion of Raidium and bounces from $2.3 million of bounce

The key whale movements at Raydium (Ray) and Bounce (Auction) have recently attracted the attention of participants in the crypto market. As Crypto Analyst The Data Nerd discovered, the two whales retracted a huge amount of rays and auction tokens, increasing their curiosity about these digital assets.

Whale withdraws rays and auctions

According to data shared by Crypto analysts, the new wallet has withdrawn 160,700 auction tokens worth $2.45 million from Binance. Four hours later, another wallet retracted 168 million rays worth $2.3 million from Binance, then immersed in Raydium.

The timing of such acquisitions occurred within a short time frame indicating coordinated efforts among these large investors. This could quickly affect the market dynamics of the two assets.

The movement is based on bullish emotions, hinting that the first whale intends to hold the auction token in the long run. Meanwhile, the second whale plans to wager Raidium tokens in the long term.

Whale activity usually comes before significant price fluctuations in the crypto market. Recent spills from Raydium and Bounce mean some positive changes in the short term. These accumulations suggest that investors and traders are keenly interested in these defi tokens and are confident in their long-term potential.

Rei and auction prices updated

The bounce has experienced an impressive uptrend and could rise on the horizon. The assets have recently witnessed incredible purchasing pressure. This development shows that bullish sentiment is becoming stronger in the market, allowing auctions to continue their upward trend moments. Its prices have risen 93.8% and 23% over the past month and seven days ago, respectively.

The increased purchasing pressure is even more evident in auction on-chain metrics. Its public interest has increased by 13.17% over the past 24 hours, indicating that multiple traders are holding derivative contracts within their assets, hoping for a surge in future prices.

Meanwhile, Raydium is facing a growing sales pressure, causing a drop in price movements. The growing volatility within the broader crypto market, which began earlier last month, appears to have had an impact on investors and traders as they withdraw funds from the Raidium market.

As a result, Ray prices fell 62.3% and 56.3% over the past month and two weeks ago, respectively. However, the recession appears to be on the decline, indicating that while it has not overwhelmed sellers so far, it shows that buyers are gaining strength.

Ray’s recent whale movements show a remedial trend before the pressing push to higher levels of metrics indicates that buyers are stepping in to defend key levels of support. Despite the downward momentum, the purchasing activity has helped to maintain value beyond the key support levels of $1.98 and $1.72. This suggests that the asset is preparing to gain a clear direction for the next price movement. A potential breakout from the recession is looming as market sentiment changes bullish and buys a surge in pressure.