This Week Saw a Significant Spike in Crypto Trading Activity

This week saw a significant spike in crypto trading activity. The peak came on Thursday, when Bitcoin (BTC) – the leading cryptocurrency – hit an all-time record high of $111988.

Crypto trading activity spiked this week, with Thursday seeing Bitcoin (BTC) hit a new all-time high of $111,988.

The increase in positive sentiment in the market has caught the attention of "whales" - large asset owners - who began actively accumulating a few select altcoins.

One of the assets that has received a lot of attention from crypto whales this week is Dogecoin (DOGE).

As seen by data from Santiment, there has been an uptick in the amount of DOGE owned by wallet addresses that hold between 100 million and 1 billion DOGE tokens.

This group of DOGE owners purchased a total of 740 million tokens during the week, which is worth more than $180 million at current market prices.

The surge in buying comes as overall market demand increased, pushing the value of DOGE up in recent days.

The meme coin is now trading at a 10-day high of $0.24. This increase reflects renewed investor interest amidst increasingly bullish crypto market sentiment.

Another asset that recorded a spike in whale activity this week is MKR - the governance token of popular decentralized finance (DeFi) protocol MakerDAO (MKR).

As seen by data from IntoTheBlock, MKR's large holder netflow increased by a triple-digit percentage (469%) in the last seven days.

Whale netflow measures the difference between the amount of tokens bought and sold by whales in a given period.

Spikes like this indicate massive accumulation by whales, signaling increased confidence and a bullish outlook for the asset.

In addition, this triple-digit jump in netflows could encourage retail traders to add to their MKR holdings. If this trend continues, the altcoin could potentially start a new rally phase.

One other altcoin that saw increased whale activity this week is Official Trump (TRUMP).

Ahead of yesterday's dinner - where President Trump is hosting the top 220 holders of his meme coin - whales were seen buying up large amounts of tokens.

According to data from Nansen, the flow of funds from Smart Money into this altcoin has surpassed $1.40 million in the last seven days, which signals growing interest from high-credibility investors.

Smart Money usually refers to hedge funds and institutions known for their timely investment decisions.

The surge in inflows into TRUMP shows confidence in the coin's short-term potential, and if this momentum continues, could signal a continued upward trend.

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.