Optimism (OP) whales' spending pattern strongly suggests a widespread accumulation. These investors have accumulated tens of millions of OP tokens in
Optimism whales buy the dips
It is interesting to see that these whales have been buying with the slump in OP price. Overlaying the whale transaction count metric paints an even better picture of these investors’ interests. Blue circles, as seen in the chart below, show clear signs of accumulation and are significant in July. On the other hand, many of these market participants seemed to have booked profits in August, as represented by red circles.
It is also interesting to note that spikes in Whale Transaction Count coincided with a massive increase in these whales’ holdings. In addition to the spending pattern of whales in the last two months, the Market Value to Realized Value indicator provides more insight into what to expect next for OP price.
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