AI Trading Platform Captures Whale Attention As Solana Loses Favor; Avalanche Unveils Game-Changing Upgrade
As part of its goal to give users efficiency, the Avalanche blockchain has an upcoming upgrade called Avalanche9000. In other news, an unknown crypto whale has dumped 695,000 SOL since the beginning of this year.
However, Intel Markets is the latest entrant into the crypto market that has received much attention. The viral AI-trading platform has grabbed the attention of the whale investors which has helped them in raising more than $225k in the first few weeks of its presale.
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Whale Dumps 695,000 Solana (SOL)
According to Lookonchain’s data, a large whale that could be an institutional investor has been selling Solana (SOL) tokens since the beginning of the year 2024. As of September, this unknown whale has dumped over 695,000 SOL, which is equivalent to $99.5 million.
Such constant selling activity indicates an average selling rate of 19,306 SOL or $2.76 million per week. Despite the large sell-off, the whale still has a large holding of 1.88 million SOL. In the meantime, Solana coin is showing momentum on the monthly chart.
The Solana price has increased by 5.7% while its market is range bound at $50-$75 billion. Despite the uptrend, the cryptocurrency is trading below the 50-Day SMA ($155.19) and 200-Day SMA ($147.44).
Intel Markets (INTL) Attracts Investment From Large Investors
As whales are selling Solana crypto, they are investing in another new project called Intel Markets (INTL). As of now, Intel Markets is currently running an ongoing presale which has seen over $225k raised in its first week. This shows a lot of investor confidence and faith in Intel Markets’ AI-powered trading platform.
The idea behind Intel Markets is to create an AI-driven smart trading platform. Here, users are able to trade cryptocurrencies using AI tools and advanced trading technologies. In addition to this, they can also enjoy features like 1000x leverage and copy trading.
Intel Markets is also a dual-chain platform since it can operate on Solana as well as Ethereum blockchains. With these features, analysts are very optimistic about Intel Markets. They believe the value of its native token, INTL, will skyrocket in the coming months.
Avalanche (AVAX) Announces New Upgrade, Avalanche9000
In a recent tweet, the Avalanche team announced the biggest network upgrade, Avalanche9000, which is set to be launched soon. According to the report, the testnet for this network upgrade will be released soon.
The aim of Avalanche9000 is to make it possible for developers to launch Avalanche subnets economically. The update will also add customizable chains. These chains will reduce the time it takes for projects to get to market.
In the meantime, the Avalanche crypto price is consolidating between $18 and $28 on the monthly timeframe. It is yet to break the resistance at the 50-Day SMA ($24.61). Despite the bearish movement, the market cap of Avalanche coin is ranging between $7 billion and $12 billion.
Why Are Whales Showing Interest In Intel Markets?
Intel Markets is a new entrant in the crypto space. The project’s team consists of the best professionals who have once worked with industry leaders such as Goldman Sachs, OpenAI, and MIT.
Analysts think that they have a perfect strategy for the crypto audience. Therefore, they have predicted that INTL, which is now valued at $0.009 could skyrocket to $0.50 before the year ends.
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