After a substantial decline in the cryptocurrency market, with most digital assets’ prices falling drastically. Recent events have spotlighted the activities of high-profile investors, often referred to as “whales,” on the Solana blockchain. Even after the negative market trends, the whales expressed confidence in some tokens and began to strategically acquire them on the Solana network. Whales most actively acquired the $SLERF, $BOME, and $BODEN tokens.
Whales’ Strategic Moves Boost $SLERF and $BOME Tokens on Solana
As per LookOnChain, One of the most remarkable transactions involved the user 4eocFb reclaiming 41,916 $SOL worth of $4.56 million from Kucoin. The user then spent 2,055 $SOL equal to $294,000 to acquire 500,979 $BODEN priced at $0.59 each maintaining a significant bullish zone.
Another remarkable purchase was user 9CjKf5 redeeming 15,751 $SOL totaling $2.25 million from Binance and using 7,812 $SOL equivalent to $1.12 million to purchase 4.86 million $SLERF at $0.23 and 4,623 $SOL that is around $661,000 buying 67.53 million $BOME priced at $0.0098 each.
The purchase is significant on both $SLERF and $BOME, indicating bullish interest in growth. While whales’ transactions in the Solana blockchain were busy investing in tokens, other areas in the cryptocurrency market were experiencing a fall.
Cryptocurrency Market Reacts to Iran’s Drone Attacks on Israel
The fall was due to Iran’s drone attacking Israel leading to geopolitical tensions. The number one Bitcoin icon went down by 5.25% in the last 24 hours. At the same time, other leading digital assets such as BNB, ETH, SOL, and AEGRO experienced notable downfalls.
Although the attacks in question were away from occurring markets, they had spillover effects on global financial markets. Cryptocurrency investors and participants were equally affected as they continued to monitor the impact of cryptocurrencies on geopolitics.
The aftermath of the events on geopolitics would probably lead to a dip in the different market areas. However, whales’ purchases show a high level of confidence and interest in select tokens, even when markets remain uncertain.
