Crypto Market in Bearish Trend Despite Whale Activity in Certain Altcoins

• The crypto market has been declining in recent days, with many altcoins trading in the red zone.
• Despite the bearish market, some altcoins have seen significant whale activity recently.
• The global market trading volume is up by 60.65%, reaching $69.40 billion within the last 24 hours.

Crypto Market Sees Decline

The crypto market has significantly declined, particularly in the last seven days, and altcoins are seeing a blood bath. Crypto assets like Bitcoin, Ethereum, Binance coin, and more are trading in the red zone. In the meantime, it’s impossible to tell when the next significant reversal will occur.

Whale Activity on Certain Altcoins

According to data from Santiment, some altcoins, including Fantom (FTM), Polygon (MATIC), and Aavegotchi (GHST), have seen massive whale activity over the past 24 hours. Despite the ongoing market downturn, these large investors have transacted with vast amounts of these altcoins. However, the on-chain data provider noted that the activity was mainly the transfer of these tokens from one exchange address to another. These altcoins have notably displayed some significant corrections over the last few days.

Recent Coin Activities

The broader crypto market has significantly declined by 6.66% in the last 24 hours, bringing its capitalization to $928.41 billion. However, the global market trading volume is up by 60.65%, reaching $69