Whale Buys $6.31 Million AUCTION, Massive Bounce Accumulation

Due to its bullish price action, Bounce (AUCTION) has been gaining massive attention from crypto users. Today, Onchain Lens spotted a whale who bought huge amounts of ACTION tokens two days ago.

Whale buys 386,302 AUCTION

According to data from Onchain Lens, the whale accumulated 386,302 AUCTION worth $6.31 million, from Binance at an average price of $16.33 per token. Due to Bounce’s price rise, the whale currently has an unrealized profit of $465,000.

The spot inflow/outflow data from Coinglass shows that exchanges have been experiencing continuous AUCTION outflows for several recent days. Such huge outflows from exchanges show potential acquisitions by whales and traders. This shows these investors are taking advantage of the current bullish market sentiment and purchasing massive quantities of AUCTION tokens, as they are confident in the asset’s future price growth.

AUCTION price updates

Bounce’s ongoing upward momentum has caught the attention of crypto market participants, with multiple users accumulating the asset. Although technical indicators indicate a bullish upward trend, the potential for consolidation cannot be overlooked.

Bounce has witnessed incredible ascending movement recently, rising 26.9% over the past week. From a low of $13.38 in the past two weeks, the asset has made impressive growth, now trading at $17.78. This dramatic increase has attracted massive investor interest, particularly as its trading volume has surged by 11%, reaching $69.56 million.

AUCTION’s price activity on the weekly and monthly timeframes has been incredible. Over the past seven days, the token has risen by 26.9% and has maintained its gains, with the asset also experiencing a 110.0% surge in the monthly timeframe. These figures show that Bounce has managed to sustain an upward momentum despite intense volatility in the wider crypto market.

Onchain indicators are confirming the bull run. Open interest (IO) has experienced a remarkable increase of 18.26% over the past 24 hours. At press time, AUCTION’s IO stands at $58.62 million, indicating robust investor enthusiasm and interest in opening long positions. This shows that traders are betting on the asset’s price continuing to surge, further sustaining the upward trend.