After the recent Bitcoin halving in April, the crypto market geared up for potential gains. But Bitcoin’s price remained relatively calm.
So, what are the big investors, or “whales,” up to? They’re shifting their focus to altcoins, looking for new opportunities. Experts believe that these altcoins present golden opportunities for potential gains.
So, which ones are the giants focusing on? Which would probably work out best for you? Let’s dive in.
Since November 2023, Cardano has been witnessing a steady accumulation by whales. This trend has intensified recently, with a noticeable increase in transactions exceeding $100,000. While this accumulation is not a direct point of price movement for ADA, it signals growing interest from significant investors. Given the substantial influence of whales on daily trading volume, their continued accumulation of ADA could potentially support and even drive up its price in the future.
Toncoin’s rise to the top crypto ranks started with speculation about Telegram’s upcoming IPO. This caught the eye of big investors, leading to a flurry of high-value transactions. Despite a small dip from its peak, Toncoin continues to gain value, making it attractive to investors seeking profits. The ongoing interest from big investors shows their confidence in TON’s potential for growth.
Despite facing price corrections for nearly two months, Arbitrum has remained a target for whale accumulation. With expectations of a post-halving rally diminishing and an impending token unlock event on May 16, whales may be looking to capitalize on potential profits. The consistent accumulation of ARB by whales suggests a strategic move to prevent significant price declines, particularly considering the impending increase in circulating supply. This accumulation could buffer against ARB’s price dropping below $1.00.
In a world of changing market conditions, big crypto investors show adaptability by shifting focus from Bitcoin to altcoins. Their interest in Cardano, Toncoin, and Arbitrum reflects confidence in these assets, despite market ups and downs.
Do you agree with the whales’ picks? Which altcoins are you keeping an eye on?
Also Check Out: Altcoin Season Ahead? As Ethereum-Based Tokens Take Charge?
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