A New Whale Entered the Altcoin, which Rising by 20% in One Day!

A newly opened cryptocurrency wallet made large purchases of altcoins that rose in a short time.

According to data provided by the on-chain analysis platform Lookonchain, GMX (GMX) was targeted by a new cryptocurrency whale.

Data revealed that the whale purchased 84,515 GMX worth $3.7 million on June 6. Whale made the purchase through the cryptocurrency exchange Binance.

The purchase of millions of dollars by a newly opened wallet revealed the bullish expectations for GMX. Whale has not made any purchases for now except GMX.

MX is a decentralized exchange that offers futures trading on Bitcoin, Ethereum, and various other popular cryptocurrencies with up to 50X leverage. The platform launched as Gambit Exchange in September 2021. GMX has over $130 billion in total trading volume and 283 thousand total users to date

According to CoinGecko data, GMX, which has increased by 20% in the last 24 hours, is traded at $ 44.3 at the time of writing.

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