The cryptocurrency market witnessed intense activity today, April 10, with whales making their presence felt in various tokens. Some cryptocurrencies, such as Pendle (PENDLE), experienced significant price gains, while others, such as XRP (XRP), continued to be shrouded in volatility. Shiba Inu (SHIB coin) also made headlines with a mysterious whale transaction.

PENDLE came to the fore with whale operations

Pendle, a relatively new DeFi project, has attracted increased attention from investors. Its price increased by about 5%, attracting the attention of both experienced traders and newcomers. This coincides with increased whale activity surrounding PENDLE. On-chain data reveals that whales are accumulating a significant amount of tokens on major exchanges such as Binance, indicating a bullish outlook. This trend is in line with Pendle’s increasing Total Value Locked (TVL) of approximately $5 billion, indicating growing investor confidence. Lookonchain reported that key wallet addresses are actively accumulating PENDLE, potentially triggering a price increase.

XRP price change and coin movements

XRP, the token backed by Ripple Labs, experienced a highly volatile 24 hours. While its price fluctuated significantly, whales made their mark by making a massive transfer of 55.87 million XRP in two transactions. The move led to speculation that investor sentiment was mixed, with some whales accumulating while others appeared to be unloading their holdings. Despite the 1.21% price drop, Coinglass data revealed a potential bullish bias for XRP, with an increase in open positions and derivatives volume.

This optimism is in line with the broader crypto market’s tentative signs of recovery, potentially pushing XRP’s price upwards in the coming days. Interestingly, despite the volatility, some market participants remain optimistic that XRP will hit $1 this month, adding to the intrigue surrounding the token.

Transferring SHIB coin and ENA

Meme coin Shiba Inu made headlines when a whale deposited 692.4 billion SHIB tokens on Crypto.com. The massive transaction, valued at over $19 million, sparked discussions about a potential price spike. However, further analysis suggests that this may have been an internal transfer within Crypto.com. The characteristics of the target wallet point to institutional use, potentially tied to the exchange itself. As the price struggles around $0.00002830, the significant 18% increase in trading volume over the last 24 hours points to a possible shift in market dynamics for SHIB.

Separately, on-chain monitoring by @ai_9684xtpa revealed that 8.43 million ENA tokens worth approximately $10.3 million were transferred from the Ethena Labs project to two Wintermute addresses. While the specific purpose of this transaction remains unclear, it highlights the ongoing activity in the DeFi ecosystem and the involvement of major players like Wintermute.