According to cryptocurrency onchain data, there was an increase in whale activity for an altcoin after Binance listed it on futures.
Onchain data has revealed that two different crypto whales began accumulating AVA ($1.04) (AVA) following Binance’s announcement.
The first whale purchased 1.49 million AVA for $350,000, while the second whale purchased $318,000 worth of AVA after the announcement, for a total of $758,000 today.
AVA, which has not yet been listed on any major cryptocurrency exchange other than KuCoin, stands out as a Solana-based memecoin. The altcoin, which was launched via the memecoin launch platform PumpFun, has a large market value of $223 million at the time of writing.
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Additionally, AVA has been included in Binance’s pre-listing pool, Binance Alpha, and a spot market listing may also be possible in the future.
However, memecoins, especially in the Solana ecosystem, are known for their high risk. Many altcoins released through PumpFun were actually revealed to be pump-dump schemes.
*This is not investment advice.
Continue Reading: Onchain Data Shows: Whales Focus on This Altcoin After Binance’s Announcement
