Over 90% of Altcoin supply on the exchange held by Walen despite correction from all-time high: analytics firm IntoTheBlock
Crypto whales are buying up an exchange altcoin despite the asset’s significant price correction last month.
Digital asset analyst IntoTheBlock reports that “Big Owners” own 93% of the supply of Crypto.com Coin (CRO), the Cryptocurrencythat powers the Crypto.com platform.
Crypto.com Coin got on board in late November All time high of nearly $ 0.97 after it was revealed that Los Angeles’ iconic Staples Center is being renamed the Crypto.com Arena.
CRO has since corrected and is currently trading at around $ 0.57.
IntoTheBlock considers “big holders” to be companies that hold at least 0.1% of CRO’s circulating supply. The currently circulating supply of the asset is approximately 25.2 billion CRO, which means 0.1% is 25.2 million CRO and is valued at approximately $ 14.347 million.
The cryptanalysis company adds that 71% of Crypto.com token investors are currently making profits on their CRO investments, compared with 7% who are balanced and 22% who have lost money.
Looking at the composition of the holders by holding period, IntoTheBlock shows that 28% of the addresses have held CROs for more than 1 year, 49% have held the token for 1-12 months and 23% of the addresses have held CROs. hold for less than a month.
The analyst also finds that $ 100.44 million of CRO has flowed into the exchanges last week, compared with $ 157.26 million of CRO that flowed into the exchanges over the same period.
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Source: Crypto News Deutsch