This cryptocurrency rose by 30% amid increased whale activity Cryptocurrency scrgruppen

Turkish lire; Dr

  • Loom Network (LOOM) saw a price rise of 30%, reaching a 5-year high of $0.28, possibly influenced by an Upbit investor purchasing over 21 million LOOM worth around $6 million.
  • This investor now owns 653 million of LOOM assets, equivalent to 50% of the total circulating supply.
  • Major cryptocurrencies like Bitcoin, Ether and others are seeing a decline, with the global market capitalization falling below $1.1 trillion.

The cryptocurrency market appears to be in a bearish mode, but some tokens are still in the green zone. One example of this is the LOOM network.

The asset made a significant 30% gain today (October 13), hitting a 5-year high of approximately $0.28. In the following hours, it fell slightly to $0.27 (where it is trading at the moment of writing).

The price increase coincided with action by an Upbit investor who bought over 21 million LOOM, equivalent to approximately $6 million.

The whale currently holds 653 million assets ($181 million), which represents 50% of the total circulating supply.

In contrast to LOOM, the leading cryptocurrencies – Bitcoin (BTC), Ether (ETH), Binance Coin (BNB), Ripple (XRP), and many others continue to bleed, while the global market cap has fallen below $1.1 trillion (according to data CoinGecko).

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