The post Loom Network Price Gains 25%, An UPBIT Wallet Holds 50% Supply!  appeared on BitcoinEthereumNews.com.

Loom Network’s price skyrocketed by over 25% today and currently trades at $0.267. The LOOM Network price has experienced heavy buying in the recent sessions, which is clear from the price hike observed in the crypto. LOOM has experienced a price hike of over 480% in the last 24 sessions and has made its way into the list of top 100 cryptos.  The anonymous hike in the LOOM crypto price indicates whale participation behind the price surge. Moreover, the volume-to-market cap ratio being 199.06% confirms it. Looking over the Onchain data, A wallet suspected of the Korean exchange “UPBIT” seemed to accumulate over 21.42 Million $LOOM worth $5.83 Million today. As per the Onchain data, The Wallet with Address “0xcE7” has over 99 transactions in the period and holds over 653.23 Million $LOOM  in the wallet. In total, The Wallet “0xcE7” has control over 50% of the total supply worth of $181 Million. Other than the Loom Crypto, the wallet holds Ethereum worth $469. Loom Network Price Analysis Over Daily Chart  Source: LOOM/USD By TradingView The Loom Network price currently trades at $0.267 with an Intraday gain of over 25.4%. The price is nearing a major supply zone from where it might face some sort of corrections. Moreover, the price has a strong uptrend prevailing in the short term, and the price may gain more if it continues with the momentum in the coming sessions.  The volume analysis shows that the Loom Network crypto price has a trading volume of $666.4 Million in the past 24 hours, which is 206.89% more than the last day. The LOOM crypto has a market cap of $326.35 Million and ranks 92nd in the crypto market. The volume-to-market-cap ratio is 199.06%, indicating very high volatility in the market. Technical Indicators Signal Optimistic Trend Prevailed  …

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Filed under: News - @ October 13, 2023 12:12 pm