A Mega Whale Bought From This Altcoin! Analyst: We’re Going to ATH

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A mega altcoin whale has hovered over Ethereum (ETH), and WhaleStats has detected transactions. According to the blockchain analysis firm, the anonymous wallet has purchased 14,000,000 units of FTT, the native token of the FTX exchange. The transaction was worth $581,444,018 at the time of sending. The analyst describes Smart Contracter’s transactions as the journey to the top. Here are the details…

On-chain activities of the mysterious whale

Whale has over $1.2 billion in FTT with a total value exceeding $3.8 billion

Whale ranks fourth on WhaleStats’ list of top 1000 Ethereum wallets, excluding the ETH cryptocurrency itself.

You can take a look at the whale’s performance and transfer rates in November from the table below…

Altcoin analyst predicts ‘peak’ for FTT

Smart Contracter, whose analysis we share as Kriptokoin.com, shows interest in FTT and states that the Fibonacci ABC range between the sharp highs and lows on the historical chart of the cryptocurrency offers encouraging signs for future price action. In a tweet to his 196,000 followers, the trader said:

It’s been a long time since I’ve traded with FTT but I actually think it’s a big bottom and we’re going from here (ATH levels). Excellent ABC on super high timeframes where ABC drops below 0.618 and bull/bear periods lengthen almost 1:1.

There are important news from the exchange token

In late October, FTX reported that it purchased ad airtime during the February 2022 Super Bowl.

FTT aims to become a more mainstream cryptocurrency.

Last week, FTX also announced the launch of a market for Ethereum-based NFTs.

At the time of writing, FTT was trading at $43.12.