XRP, ADA and Other Altcoins To Stack Before Trump’s Speech In Nashville

Bitcoin has clawed back most of its losses from the week, with traders eagerly awaiting former U.S. President Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President appearance at the Bitcoin 2024 conference in Nashville, Tennessee. Interestingly, Bitcoin gained more than 1% today as Trump seems to have shifted his stance on digital currencies this election cycle.

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:

Arbitrum:

Current Price:  $ 0.30467705

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.

XRP:

Current Price:   $ 2.05656051

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.

Cardano:

Current Price:  $ 0.63950907

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.

Chainlink

Current Price:  $ 12.65507380

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