Whales Heavily Accumulating Ethereum-Based Altcoin
A prominent crypto analytics firm has reported that wealthy whales are accumulating a token based on Ethereum that has seen significant growth in the past three months.
According to Santiment, individuals who hold between 1,000 and 100,000 tokens of Tellor (TRB), a decentralized oracle protocol, now own 46% of the total supply, up from 31% just seven weeks ago.
As the value of TRB has surged from under $15 in September to its current price of $134, affluent buyers have been acquiring more of the asset.
Santiment also revealed that The Graph (GRT) has experienced a surge in whale activity since February, with 149 transactions totaling over $100,000 each and an additional 620 wallets as of November 6th.
The firm also identified other trending crypto assets that traders are interested in, including Chain X Game’s Revolution Land (REVO) and Ordi (ORDI), the first BRC-20 token on the Bitcoin blockchain that is now available for trading on the world’s largest crypto exchange.
Hot Take
It seems that deep-pocketed investors are betting big on certain altcoins, signaling confidence in their future potential. With substantial accumulation of tokens and increased whale activity, these assets may be poised for further growth in the near future.
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