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Chainlink (LINK) and Solana (SOL) have declined over the past week, potentially causing losses for some investors recently.
These market movements have led some individuals to sell their holdings.
Meanwhile, growing interest in the new meme coin pushed its price to record highs over the weekend.
Crypto Whale Sells $3.67 Million Worth of Chainlink
Recent data from SpotOnChain confirms large-scale Chainlink token transactions.
Whale withdrew $3.76 million LINK from Binance in two transactions.
There is still $1.94 million worth of LINK in the wallet, but some experts speculate that the sale may be related to a potential market downturn.
This large transaction could cause LINK to fall below $17.
Nonetheless, Chainlink’s trading volume rose 25% to $581 million in the past 24 hours, according to CoinMarketCap data.
This means that some investors continue to accumulate LINK tokens.
Solana is facing extreme selling pressure
Solana rebounded in early 2024 to hit highs above $118.
However, it has faced resistance and is down 10.12% over the past week, currently trading at around $103.
This downward trend has increased selling pressure and some analysts have suggested that the price may fall below the $100 support level.
In the last 24 hours, SOL is down 5.07%.
In particular, trading volume during the same period increased by 27.26% to $2.6 billion.
Crypto bulls double down on KangaMoon.
KangaMoon’s first round of tickets has been sold out. In phase 2, KANG is trading at $0.0075.
KangaMoon is a new meme coin that aims to provide utility beyond your typical meme project.
It features play-to-earn (P2E) gaming and a variety of social elements, including rewards for active players and community challenges.
The project aims to attract more than 2,000 investors by building a community of cryptocurrency enthusiasts.
Pre-sale participants can purchase KANG for $0.0075 on the KangaMoon website.
Early buyers will receive a 15% bonus until Friday February 23rd.
With more than 15% of Phase 2 volumes already sold, some analysts speculate that KANG could experience further price increases in the first quarter of 2024.
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