Interest in ORDI continues to increase following the sharp rise in the crypto currency. Altcoin‘s price has increased by more than 500% in the last month, but has fallen after negative tweets from Bitcoin core developer Luke Dashjr. The question now is; are the whales selling ORDI or are they continuing to hold and accumulate?
According to data provider Lookonchain, ORDI’s price has dropped by 4.63% in the last 24 hours to $48.95. Despite the selling pressure on the altcoin following Dashjr’s negative tweets, the data shows that the whales are remaining calm and not selling.
Especially the top 30 ORDI investors hold a total of 16.78 million ORDI, which is worth $950 million. This amount represents 79.94% of the total supply. According to on-chain data, the distribution of ORDI among these wallet addresses has become even more concentrated compared to November 9th.
On-chain data suggests that crypto whales have been accumulating ORDI intensively in recent times. In particular, two crypto whale investors have purchased a total of 57,299 ORDI from the Bybit, Gateio, KuCoin, and Binance exchanges since May 20th, worth $3.15 million.
On the other hand, following the negative tweets by Bitcoin core developer Dashjr, a very limited number of crypto whale investors are observed to transfer ORDI to crypto exchanges in order to make a profit. One wallet address sold 59,000 ORDI for $3.54 million before the price of the altcoin fell, making approximately $2.3 million in profit.