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Large Transaction Volume estimates the total amount transacted by whales and institutional participants on a particular day. Spikes in large transaction volume may indicate increased activity among whales, whether buying or selling.Large Transactions Volume, Courtesy: IntoTheBlock Large transactions, which refer to transactions involving large quantities of cryptocurrency greater than $100,000, are often seen as a key indicator of market mood.Top addresses belonging to whales, or institutional traders, often become most active during periods of extreme volatility. The recent spike in SHIB whale transactions might suggest that large holders, or whales, are either accumulating more of the token or moving significant amounts to different wallets.
The bearishness has spread to cryptocurrencies, with traders anticipating the U.S. jobs report on Friday as regards the outlook on the economy.Bitcoin fell to a one-month low after a broader retreat from riskier investments on global markets due to concerns about the economic outlook, while other major cryptocurrencies also suffered losses.
According to CoinGlass data, liquidations across the crypto market have surged 247% in the last 24 hours to $200.09 million. Bullish traders betting on price increases of $170 million in long liquidations, while short liquidations accounted for $30 million.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends.