A new report from Lookonchain has shed light on which altcoins the famous crypto company Jump Trading has collected over the week. Accordingly, the company has made more than 1 million purchases each in 4 altcoins, including MASK and LDO.
Jump Trading has accumulated these altcoins during the rally week
Blockchain analytics firm Lookonchain tweeted earlier today that Jump Trading has accumulated Mask Network (MASK), Lido DAO (LDO), LeverFi (LEVER), and Perpetual Protocol (PERP) over the past week. According to the post, Jump Trading has purchased over 1 million tokens in each crypto over the past 7 days.
Lookonchain estimates that Jump Trading currently holds around $6.15 million worth of altcoins. 1.59 million of them belong to MASK. The company also owns 1.09 million LDOs worth $2.11 million. In addition to this, he is holding LEVER 509 million worth $686,000. Finally, there are 1.07 million PERP positions worth approximately $545,000.
Jump Trading has been accumulating $MASK, $LDO, $LEVER and $PERP over the past week.
Jump Trading currently holds:
1.59M $MASK ($6.15M);
1.09M $LDO ($2.11M);
509M $LEVER ($686K);
1.07M $PERP ($545K).https://t.co/ZzC3JZ5l3v pic.twitter.com/0vNsIr3jNp— Lookonchain (@lookonchain) June 24, 2023
During the week in which Lookonchain was accumulating, the total value of the crypto market increased by 15%. As a result, it has once again surpassed the $1.15 trillion threshold. Also, MASK, LDO, LEVER and PERP all posted high gains throughout the week. This momentum continues unabated over the weekend.
Jump Trading’s predictions turned out to be accurate
MASK is trading at $3.81 after gaining 2% in value the past day. Meanwhile, the price of LDO is currently trading at $1.90 after a slight increase. LEVER managed to gain over 5% in this period. As a result, it is changing hands at $0.00134514 at the time of writing. Finally, PERP also recorded a 5% increase in the last 24 hours. Its price is currently trading in the $0.497941 region.
How about Bitcoin? Is a price correction possible?
Bitcoin’s price has soared by more than 15% over the past seven days, climbing as high as $31,000. A tweet from Glassnode noted that Bitcoin’s recent breakout above the $30,000 price level inspired an increase in profits sent to exchanges, recording a profitable entry of $62.8 million. However, BTC’s gains have stalled, as evidenced by the marginal increase in its price over the past 24 hours.
Glassnode points to a remarkable improvement in another tweet. According to the tweet, after the recent spike in Bitcoin price action, market participants made a non-trivial $537 million profit, making it the second-largest profit-making event in the past year. As can be seen from the chart, the last time such an event occurred, it was followed by a drop in the price of BTC.
As Cryptokoin.com reported, ETF news was effective in the last BTC rally. The SEC today approved the Volatility Shares leveraged BTC ETF application.
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