WHAT'S GOING ON? Whales Have Been Making Massive Purchases in the Altcoin, Ethereum's First, for 2 Days!

Despite the approximately 100-fold increase in the ERC404-based altcoin recently, cryptocurrency whales continue to maintain their interest in this project and make millions of dollars in purchases.

According to on-chain analysis data provided by Lookonchain, whales' interest in the Pandora (PANDORA) altcoin continues, despite all the price increases.

In the last two days, a whale with the "0xcdba" wallet purchased 136.08 PANDORA at a cost of $22,707, making a purchase of $3.09 million and becoming the second largest investor in the project.

Another wallet, "0x6fCa", became the fourth largest PANDORA investor by purchasing 109.5 PANDORA at a cost of $17,087, making a purchase of $1.87 million.

PANDORA, which was launched at the beginning of February, attracted attention as the first example of the Ethereum-based ERC404 craze and rose from $ 200 to $ 22 thousand.

ERC404 is a standard for “lost tokens” on the Ethereum blockchain and is designed to recover tokens that have been accidentally or intentionally sent to a smart contract and are no longer accessible. Binance reacted to the high volume in this area by announcing that it would support ERC404 tokens through its WEB3 wallet.