The price of Yield Guild Games ($YGG) has surged by approximately 232% in the past week, according to a recent analysis by LookOnChain. This significant value increase has caught the crypto community’s and investors’ attention.
Following the price pump, LookOnChain noticed that two investors deposited 3.57 million $YGG, equivalent to $2.06 million, into Binance, a leading cryptocurrency exchange platform.
BITKRAFT Ventures, a prominent investor in the esports industry, deposited 1.57 million $YGG, valued at around $907,000, to Binance via Wintermute Trading and FalconX. The transaction details can be traced on Etherscan, a popular Ethereum blockchain explorer.
In addition, a crypto whale, known by the pseudonym “0x639B”, deposited 2 million $YGG, worth approximately $1.16 million, into Binance. Interestingly, the whale still holds an equal amount of $YGG in their possession.
Crypto GVR, a well-known crypto analyst, had predicted the rise of $YGG earlier this year. In January 2023, they referred to $YGG as a “slow mooner” and predicted a significant gain for long-term holders. They had forecasted the price of $YGG to rise from $0.18 to $0.27, representing a potential gain of over 50%. The prediction was suggested for a holding period of 5–10 days.
The recent surge in $YGG’s price has validated Crypto GVR’s prediction, with the token price hitting $0.66. They have further predicted that $YGG will soon reach $1, indicating a positive outlook for the token.
This analysis by LookOnChain and the subsequent market movements underscore the dynamic nature of the crypto market and the potential gains for vigilant investors. As always, investors are advised to research and consider their risk tolerance when investing in cryptocurrencies.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com