Ocean Protocol's (OCEAN) price extends its rebound and raises more than 6% on Thursday, following Wednesday’s 22% rally after a retest of its weekly support.
Ocean Protocol price increases 6% on Thursday following Wednesday's 22% rally. On-chain data suggests that
whales buy the dips Ocean Protocol price retested its weekly support level at $0.524 on Tuesday and bounced back 22% the next day. Currently, 1-day chart On-chain data provider Santiment’s Network Realized Profit/Loss indicator computes a daily network-level Return On Investment based on the coin’s on-chain transaction volume. Simply put, it is used to measure market pain. Strong spikes in a coin’s NPL indicate that its holders are, on average, selling their bags at a significant profit. On the other hand, strong dips imply that the coin’s holders are, on average, realizing losses, suggesting panic sell-offs and investor capitulation.
. tokens surged from 676.67 million to 690.31 million and 286.64 million to 287.69 million, respectively, in the same period. This interesting development shows that the first cohort of whales could have fallen prey to the capitulation event. In contrast, the second and third sets of wallets seized the opportunity and accumulated
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