That has attracted attention recently SPX6900 (SPX) altcoin became a hot topic in the cryptocurrency world with a huge price increase. According to SpotOnChain data on October 21, the top 10 SPX holders own a total of 1.715 million SPX ($144 million). This amount corresponds to 18.4 percent of SPX’s circulating supply. The assets in question are held in 32 different wallets, and it has been reported that most of these owners have not yet realized their earnings.
Big Rise in SPX Coin
SPXThe recent rise of has aroused great interest among investors. SPX, which gained 1,823 percent in value in just one month, has become a remarkable investment tool.
However, one of the most important details behind this rise is that the major players holding SPX have a huge profit potential. These investors, who have the opportunity to earn a total gain of 140.9 million dollars, have not yet realized most of this gain.
The fact that investors have not yet converted this huge gain into cash has raised the question of when a sales wave will come in the market. Because if large owners start selling SPX altcoinThere may be sudden fluctuations in the price of . This poses a great risk for market participants.
Could Selling Pressure Increase?
It is estimated that there may be a rapid decline in the price of the altcoin if these top 10 addresses, which control 18.4 percent of SPX’s circulating supply, begin to realize their profits. Investors are following this situation closely. Large amounts of SPX held by these wallets could be a sign of potential selling pressure. Market watchers are trying to predict when these big sell-offs will occur.
While the rapid rise in the price of SPX excites investors, on the other hand, it is noted that it may cause great volatility in the market if large owners decide to sell. Investors should take their steps carefully, taking these possibilities into consideration.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
