Bitcoin has clawed back most of its losses from the week, with traders eagerly awaiting former U.S. President Donald Trump
Analyst Altcoin Buzz said that this week, crypto whales have been quietly accumulating several altcoins, showing confidence in their near-term potential despite recent performance dips. Here are the top altcoins:
Whale Activity: Despite its major year-to-date decline, Arbitrum has seen a 87% increase in large holder net flow over the past week. This suggests that whales believe in the token’s long-term potential. Arbitrum, a layer-2 scaling solution for Ethereum, aims to improve transaction speed and reduce costs on the Ethereum network. The recent whale accumulation could indicate confidence in its technology and future adoption.
Whale Activity: According to Santiment, the number of addresses holding between 100 million and 1 billion XRP tokens has increased since July 23rd. This shows that the supply has risen from 38% to 40%, showing a growing confidence among large holders. XRP has been benefiting from recent legal victories and market sentiment, making it an attractive option for whales.
Whale Activity: Cardano has seen a staggering 10,878% surge in large holder inflows within a single day, surpassing the 5 billion mark. This indicates a significant level of confidence among whales in ADA’s recovery potential. Cardano’s recent upgrades and ongoing development have been positively received by the market, contributing to its attractiveness.
Whale Activity: Chainlink recently integrated its Cross-Chain Interoperability Protocol (CCIP) with TrueFi across Ethereum and Arbitrum blockchain platforms. TrueFi, backed by Coinbase and Chainlink, provides transparent and real-time financial data, enhancing the decentralized finance (DeFi) ecosystem. This integration could drive further adoption and utilization of Chainlink, making it a popular choice among whales.
Also Check Out: Bitcoin Conference 2024: Robert F. Kennedy Jr. Announces 550 Bitcoin Daily Treasury Plan
A few days ago, Banxa temporarily suspended Pi transactions, likely due to pending KYB (Know…
XRP is currently trading in a tight range and continues to struggle to break above…
XRP is one of the most talked-about cryptocurrencies, but few people understand how small its…
After months of sluggish price action and sideways consolidation, Dogecoin (DOGE) may finally be on…
Excitement brews in the crypto realm as speculation grows about a potential altcoin resurgence. Analysts…
Bitcoin remains strong in the market and institutional interest as Ethereum keeps rising which strengthens…