Over the past 48 hours, Bitcoin Core developer Luke Dashjr’s tweets have caused $ORDI to fluctuate. As per a popular on-chain platform, LookOnChain, the cryptocurrency community must decide: Are whales selling their $ORDI holdings or adding to them? The detailed analysis of the top 30 $ORDI token holders shows a highly concentrated ownership structure. These huge investors, known as whales, own 16.78 million tokens, worth $950 million. This remarkable 79.94% of the supply suggests a significant power consolidation within a few major individuals.
Affected by the tweets of Bitcoin Core developer Luke Dashjr, the price of $ORDI has fluctuated greatly in the past 2 days.
— Lookonchain (@lookonchain) December 7, 2023
Did whales sell or continue to accumulate $ORDI?
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Here is a thread. pic.twitter.com/zDKuliirIv
Whales Anticipate and Accumulate $ORDI Amid Market Dynamics
The distribution of $ORDI has solidified since November 9, showing recent efforts by significant investors to accumulate more coins. Since May 20, two huge OKX Exchange investors have begun buying $ORDI. They acquired 57,299 $ORDI ($3.15 million) on Bybit, Gateio, KuCoin, and Binance in December. These two whales are $ORDI’s second- and tenth-largest investors, demonstrating their market impact. Whales bought $ORDI in advance. In keeping with the market scenario, they anticipated its growth and are holding without selling.
The address bc1q8u received 149,999 $ORDI ($2 million) from Binance and Gateio on May 22 and November 27, respectively. The average transaction price was $13.5. Another address, bc1qrl, received 184,637 $ORDI ($4.26 million) from Binance between November 17 and 23, averaging $23. These addresses own 1.2 million $ORDI ($68 million) from minting and have no plans to sell demonstrating a strong commitment to maintaining these assets.
Crypto Community Closely Observes Whales’ Moves in $ORDI’s Development
Some whales have adopted a “hold” approach when facing market concerns. People sold $ORDI shares after Luke Dashjr’s tweet, profiting. The address bc1puc sold 59,000 $ORDI coins (worth $3.54 million) before a price drop, making $2.3 million. The person may have sold their shares in advance in response to Dashjr’s tweet, expecting $ORDI to fall. On November 22, the person withdrew 65,263 $ORDI ($1.3 million) from Binance at $20.
The growth of $ORDI shows how powerful individuals and huge investors shape cryptocurrency markets. These developments provide crucial insights about $ORDI’s price and the cryptocurrency sector; thus, the cryptocurrency community is closely watching them. In the volatile cryptocurrency market, investors and enthusiasts are actively monitoring. They are also adapting their strategies to prominent crypto market participants.
