As per Lookonchain, the on-chain platform specializing in smart money analytics, the SuperVerse (SUPER) cryptocurrency has witnessed a remarkable surge of approximately 230% in the past week. SuperVerse, a blockchain project, is dedicated to developing and delivering Web3 products that provide advanced NFT functionality to crypto enthusiasts.
A recent update on X (formerly Twitter) from Lookonchain highlighted that two wallets associated with Spark Digital Capital, a research-oriented crypto fund focusing on blockchain and technology’s future, deposited a cumulative 1.93 million SUPER tokens, equivalent to $784,000, onto the Binance exchange within the last three days.
In a subsequent post, Lookonchain disclosed that Spark Digital Capital withdrew 999,874 SUPER tokens, valued at $181,000, from Binance on August 13, 2022, when the token’s price was approximately $0.18. After a waiting period of 469 days, the token’s value appreciated, prompting the crypto fund to sell its SUPER holdings and generate profits.
The recent uptrend in SUPER commenced on November 11, following a breakthrough above the $0.1148 resistance level. Following a brief pullback and a successful retest of the now-supportive level, SUPER initiated an unprecedented rally.
According to TradingView data, SUPER has experienced an impressive surge of over 340% in the past two weeks, with the most significant price movement occurring on November 25. On that day, the token’s price soared from $0.2241 to $0.4478.
Despite a 17% pullback in the rally, concluding at $0.3719, on the mentioned day, the Web3-focused cryptocurrency has resumed its upward trajectory. At the time of writing, based on TradingView data, SUPER is trading at $0.4402.
While Lookonchain reported notable deposits and sales of SUPER by Spark Digital Capital, the exact extent of the crypto fund’s SUPER holdings remains undisclosed. Moreover, despite the pullback observed yesterday, SUPER continues to exhibit substantial momentum in its upward movement.