Amid the market selloff, large investors or whales have grabbed the opportunity to add their favorite tokens to their portfolios. It should be noted that in every market cycle comes the accumulation phase, whereby prices flatten and contrarian investors see the opportunity to jump in and scoop up discounts.
Data from WhaleStats that tracks the top 5000 ETH wallets indicate that large investors have been loading up cryptocurrencies such as Ethereum (ETH), Shiba Inu (SHIB), Tether (USDT), Fantom (FTM) as these rank among the top ten purchased in the last 24 hours.
An ETH whale just bought 50,736,574,302 SHIB or $1,106,564 worth, WhaleStats crypto tracker has reported that slightly over two hours ago. This comes as another whale purchased 49.65 billion Shiba Inu or $1,094,317 worth the prior day. Shiba Inu is posting a rebound alongside the rest of the crypto market, trading marginally up at $0.218.
At the time of writing, a handful of tokens were seen recovering gains, both over the last 24 hours and on the weekly. Elrond (EGLD, +12.90%), Fantom (FTM, +12.60%), The Graph (GRT, +20.63%), Basic Attention Token (BAT, +13.98%), IoTeX (IOTX, +11.06%) were significantly up in the last 24 hours. Bitcoin was trading up 2.48% from the day’s lows of $38,590 at a present price of $39,633. Bitcoin is presently retesting the $40k barrier in a second attempt on Mar. 15.
In fresh developments in the XRP lawsuit posted by defense lawyer James K. Filan, the court has ordered Ripple defendants Brad Garlinghouse and Chris Larsen and the SEC to meet and confer to determine what additional discovery, if any, is necessary and file a joint letter by March 23, 2022. The duo is to inform the court of any additional discovery they intend to seek and a schedule for that discovery.
Earlier, the U.S. Securities and Exchange Commission filed a motion for an extension of time. The agency stated that it needed an extension to file its response to Ripple’s recently filed motion to strike a supplemental expert report.
In a recent interview with Bloomberg TV, Ripple CEO Brad Garlinghouse said that he was “very pleased” with the court’s decision to deny the U.S. Securities and Exchange’s motion to strike the “fair notice” defense.
In positive developments over the weekend, Judge Analisa Torres denied the SEC’s motion to strike Ripple’s make-it-or-break-it “fair notice” defense. The court also denied Ripple CEO Brad Garlinghouse’s and co-founder Chris Larsen’s twin motions to dismiss the lawsuit against them.
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