This Altcoin Diverged Positively from the Market with its 30 Percent Rise! Is South Korea the Source of the Rise?

While some altcoins differentiate themselves positively from the market with their rise, there may be various reasons behind these rises.

While stock market listings generally play a major role in these increases, purchases made in large quantities can have a positive impact on the price.

At this point, LOOM, which is listed on Binance, attracted attention with its increase of more than 30% in the last 24 hours.

In his post on his Twitter account, Lookonchain stated that a wallet received 21.42 million LOOM (worth $5.83 million) today.

While Lookonchain stated that this wallet is suspected to belong to the Upbit exchange, it said that this wallet has 653 million LOOM, which corresponds to 50% of the total supply.

“LOOM price skyrocketed by nearly 30% today.

A wallet suspected to belong to the Upbit exchange received 21.42 million LOOM ($5.83 million) today.

“There is currently 653 million LOOM ($181 million) in the wallet, which is 50% of the total supply.”

The price of $LOOM skyrocketed by ~30% today.

The wallet suspected of #Upbit accumulated 21.42M $LOOM ($5.83M) today.

And the wallet currently holds 653M $LOOM ($181M), 50% of the total supply.https://t.co/oergGUqAgo pic.twitter.com/TO9ZqSCw64

— Lookonchain (@lookonchain) October 13, 2023

LOOM, which rose to $0.294 with its rise, is traded at $0.272 at the time of writing.

*This is not investment advice.

Source