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- To save Tezos from this mishap, many Crypto Whales started to buy in XTZ in large amounts to trade to give support to its falling value.
- The 19th of February marked the day where Altcoins reached its peak value.
- Coinbase shared a report that the custody has experienced an addition of more than 12 Million XTZ Tokens in this week alone.
Tezos might be the lucky coin, which gets saved most of the time before a pullback. This year Tezos has performed extremely well, gaining about 200% in January and also claimed the top ten positions according to the CoinMarketCap metrics.
However, Tezos couldn’t keep on the good side and periodically declined in its market value, but the investors and enthusiasts made Tezos reach its strong point value again.
The 19th of February marked the day where Altcoins reached its peak value. Similarly, Tezos reached its peak value of $3.87 on the same marked day with an accumulation of market capitalization of $2.687 Billion.
However this week XTZ reached a pullback of 40% trading with the market value of $2.79 and also decreased in its market capitalization to $1.98 Billion. To save Tezos from this mishap, many Crypto Whales started to buy in XTZ in large amounts to trade to give support to its falling value.
The majority of the buyers purchased and stored Tezos in Coinbase accounts. The surge was all accounted in a single week where the buyers bought in Tezos into their wallets to acquire more market cap.
Coinbase shared a report that the custody has experienced an addition of more than 12 Million XTZ Tokens in this week alone. Among all other Altcoins during this downtrend, it is peculiar that crypto whales only bought in Tezos to save it from the crisis.
This means to show that Tezos is one of the favorites of the whale investors who choose to believe that Tezos as an Altcoin has enormous potential and as the saying goes ‘Buy the Dip’ is actually seen in this Altcoin. This activity can be summarised that whales are buying Tezos in its least value so that they have huge ROIs once the Altcoin reaches its true value.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
