According to the recent on-chain metrics, the large cryptocurrency investors, also known as whales, may be ready to buy the dip after the recent BTC sell-off below $10,000. In particular, the growing inflows of stablecoins to top cryptocurrency exchanges may signal that people looking into buying opportunities as BTC is hovering around the critical support area of $10,000.
TRON (TRX), the 13th-largest digital asset with the current market capitalization of $2.34 billion, has been recovering on Tuesday. The coin has gained nearly 9% on a day-to-day basis to trade at $0.0331 by press time. TRX/USD is the best-performing cryptocurrency out of top-20 as Bitcoin, and other major altcoins are deep in the red.
Zcash had one of the worst crashes in the market, losing more than 25% of its value in just one day. ZEC bulls are trying to recover after prices bounced from the daily 200-MA as there aren’t many resistance levels on the way up.