Whale Movement Powers This Cryptocurrency Market By Investing.com

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Investing.com – While the dog memes are taking off for their own reasons, it appears that the Bitcoin-led cryptocurrency is on the cusp of ending a correction wave that has lasted more than two weeks, with all of them posting strong gains coinciding with strong and striking moves by the Bitcoin whales.

And the major altcoins managed to post strong gains on Monday despite news that the United Kingdom will impose a 2% tax on digital exchanges.

Along with the Indian authorities denying their tendency to adopt and regulate digital currencies in the country in the first winter session of the Indian Parliament. On the other hand, positive news continued on the cryptocurrency market, while analysts believe that the correction wave is about to end and that the market is on its way to completing the bullish path.

whales move

The last moments saw the execution of a new deal and active movement by bitcoin whales according to whale_alert

About 2,000 bitcoins worth 115.6 million were transferred from Xapo to Binance.

And earlier today, Tuesday, a large whale deal was seen on a deal worth 34,237,342 on the number of 600 bitcoins.

The transaction, spotted by Whale Alert, was executed by transferring coins from an unknown wallet to a Bitcoin bank.

new chest

A Wall Street veteran with over 14 years of experience has launched a new investment fund dedicated to emerging cryptocurrency and blockchain, providing further evidence that savvy money investors are heading into the emerging world of digital assets.

Former City CEO Matt Zhang introduced Hive Mind Capital Partners, a $1.5 billion multi-strategy fund designed to boot up promising ventures and “institutionalize crypto investment.”

The fund will prioritize projects focused on building infrastructure for digital currencies, virtual worlds, and programmable funds, and will trade digital assets as part of its core strategy.

HighMind’s first technology partner is Algorand, a proof of stake protocol increasingly focused on building the infrastructure for the global financial industry.

Algorand is one of the top 20 blockchain projects, with the original ALGO token with a market capitalization of $11.2 billion in total market capitalization, according to CoinGeco.

microstrategy

Michael Saylor, CEO of enterprise data analytics company Microstrategy, announced via Twitter that the company has purchased an additional 7,002 Bitcoin (BTC).

Microstrategy has a purchase value of approximately $414.4 million, with an average price of $59.18 thousand per coin.

Microstrategy sold 571,000 shares of the company’s stock between October 1 and November 29 at $732.16 per share, thus raising funding for the latter transaction.

As of Monday, the company now owns 121,044 bitcoins, valued at $3.57 billion.

It was acquired at an average price of $29,534 per coin and included a capital appreciation from the previous coins.

China

The Chinese government is considering setting up a digital asset exchange in Beijing as officials seek to promote the use of digital.

According to guidelines issued by the State Council, Beijing will explore the possibility of establishing a digital asset exchange, as part of a broader effort to boost financial services in the capital.

The board called for faster promotions of the Chinese yuan, but did not provide further details about the digital asset trading exchange’s plan. It banned the trading of digital currencies in 2017, and escalated this measure by banning its mining in 2021, and coinciding with those decisions increased promotions of the currency.

market now

Bitcoin, the largest digital currency, is trading during those moments above the levels of 58 thousand dollars, up 2%, while it was seen at a time near the levels of 59 thousand dollars.

On the other hand, Ethereum, the largest altcoin, is approaching the levels of $4.8 thousand, as it rose 7.1% to levels of $4.61 thousand, while it rose during the week by 8%.

Binance Coin increased by 2.2% to $628 levels, with a market capitalization exceeding $105 billion.

While Cardano rose by about 4% and 2% during those moments, rising to the levels of $212 and $1.6.

While polka dot rises within 4% to reach the levels of $1.01 and $37.2, respectively.

While it rises 9% thanks to the return of trading on the Binance platform, in conjunction with the prize announced by the Binance platform, where the winner is awarded a Tesla car (NASDAQ:) or $ 50 thousand.

On the other hand, rises come after the inclusion on the Kraken platform, which is one of the largest digital exchanges in the world, coinciding with expectations that the currency will break into the world of metavirs.

Sheba is now rising by more than 35%, reaching levels of $0.0005201, with a market value of $28.97 billion.

will not stop rising:

Before you miss the $1 train:

The article does not express a recommendation or nomination, but rather a mere monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to financial authorities and markets.



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