Amidst the prevailing bearish circumstances, an Ethena whale has miscalculated, losing a staggering sum of $2.7 million. However, whales are in a battle to outwit one another as market momentum favors the KangaMoon token. With the token set to launch at BitMart soon, investors are massively accumulating, projecting KANG as one of the best cryptos to invest in May.
KangaMoon Token Continued To Be Scooped by Whales
While an Ethena whale is counting its losses, whales are massively scooping KANG and anticipating a bigger return. The platform has caught the attention of many traders, gaining a significant appeal that cuts across the entire crypto circle. With its vast community containing lovers of social interaction and play-to-earn gaming, KangaMoon is currently one of the best cryptos to invest in.
KangaMoon has an advancing ecosystem that encompasses close to 30,000 participants and about 10,000 holders, all contributing significantly to the platform’s growth. Players, spectators, and users earn heavily on the platform, with a staggering 250 million tokens allocated as in-game benefits. Based on their activities across social media platforms, users can significantly improve their financial status with free KANG tokens.
The price of KangaMoon has jumped from $0.005 to $0.025, representing an incredible growth of 400%. Similarly, KangaMoon has raised a total presale funding of $6.7 million, making it one of the top crypto coins. To create more user engagement, the platform has partnered with RaidSharksBot, showcasing its commitment to the welfare of users. In the coming weeks, the KangaMoon presale will come to an end with the token set to be listed on exchanges.
Already, BitMart has indicated an interest in listing KANG with more tier 1 exchanges to follow the trend soon. For $0.025, KangaMoon is one of the top crypto coins analysts believe could have the most significant return on investment. As a result, the token is expected to give up to a 1000% increase by the time of its listing next month. If this turns out to be true, KangaMoon may trade at $1 by the end of the year, making it a good crypto to buy.
Ethena Price Declines as Whale Incurs a Loss of $2.7 Million
The continuous decline of the Ethena token in the past few weeks has resulted in a significant loss of profit for a whale. The problem started on April 5 when the whale with an address 0x57e114 staked a massive 6 million ENA worth $5.71 million. Subsequently, the whale restaked another 3.32 million ENA worth $4.7 million on April 10.
However, Ethena began to dip at the twilight of April, dumping by 30% on the monthly chart. As if that was not enough, the Ethena market cap and the Ethena trading volume also experienced a serious dip in the same timeframe. To cut its losses, the whale had to unstake all of its assets on Binance, resulting in a loss of $2.71 million altogether.
Conclusion
The significant loss of funds by the Ethena whales is further proof of the volatility of the crypto market. Investors should not dwell too much on the time of crypto pumping while neglecting a potential dump. With this, KangaMoon whales should also know when to exit a trade to avoid loss of funds.
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