Top crypto investors are buying large amounts of this cryptocurrency on Binance

According to Lookonchain, a blockchain analytics company, large investors, including institutional ones, are accumulating large amounts of altcoins on a decentralized exchange (DEX).

New wallets accumulate GMX (GMX) , a DEX token that runs on the blockchain Arbitrum (ARB) и Avalanches (AVAX) , providing spot and leveraged trading services, Lookonchain claims.

These subjects together acquired more than $15 million worth of GMX from Binance, analysis shows.

"Over the past 7 denas, its price has risen by about 6% as whales and institutions buy GMX”, explain the company.

At the time of writing, GMX is now trading at $37.63, down 3.60% in the last 24 hours.

Lookonchain has also discovered another major holder who adjectives by Kraken meme the cryptocurrency Pepe (PEPE) .

The whale in question netted 231,6 billion PEPE ($2.9 million), the exchange confirmed.