The crypto market has been in flux for the last couple of weeks, with upticks and downticks making a presence every now and then. However, the last six days have been very fruitful for the market as not only did the total market capitalization rise to $1.074 trillion, but altcoins like toThe altcoin had been suffering to break past the bearishness that it began experiencing in May, but the gradual incline was not significant enough to pull YFI out of the bears’ dominance.
The 78.49% rally that YFI witnessed in the last few days placed the altcoin above the $10,000 mark to trade at $11,003, the highest price level it has noted since May this year.This came as a surprise to retail investors as well as whales, and the latter did not waste a second in making their hype evident.
Fluctuating every now and then, the total whale transaction volume on average remained at a low of $4 million to $6 million. In this week, however, the same shot up by more than 392% to reach $24 million as of 30 July.
The Relative Strength Index is indicating the same, and this might be a matter of concern for YFI holders that entered out of FOMO as they could lose their profits pretty soon.Subscribe to get it daily in your inbox.