Altcoins to Watch: Chainlink (LINK), Maker (MKR), and Wrapped Bitcoin (WBTC)
Hey there! We hope everyone in Israel is doing well. Now, let’s talk about crypto. September saw some important macroeconomic events like the Fed rate pause and the approval of the Ethereum Futures ETF. Crypto whales have taken advantage of these events and have been keeping an eye on certain altcoins for potential profits in October. Here are a few altcoins that whales have shown interest in.
1) Chainlink (LINK)
Chainlink had a 30% increase in September, making it one of the top gainers in the top 20 crypto rankings. This surge was driven by successful tokenization rehearsal with SWIFT and growth in the Real World Assets (RWA) sector. On-chain data shows that whales have been interested in LINK recently, with whale transactions increasing from 30 to 218 between September 17 and October 2. A recent significant buy order by a whale for $3.25 million caused Chainlink’s price to rise.
2) Maker (MKR)
Maker also saw a boost in price due to a macro event in September. Following the US Fed’s rate halt announcement, there was an influx of large transactions on September 20. Whales turned to Maker for its appealing 8% DAI savings rate. The number of confirmed whale transactions increased from 9 on September 19 to a 6-month high of 102 on October 2. Despite a recent price slump, whales continue to accumulate MKR, with one whale purchasing about $2.5 million worth of MKR last week.
3) Wrapped Bitcoin (WBTC)
Whales have shifted their attention to Wrapped Bitcoin (WBTC), according to Santiment. There has been an increase in large WBTC transactions above $1 million since March. WBTC also experienced its strongest network expansion since July and a rise in new wallets holding 1-1,000 WBTC. This indicates growing interest from whales in WBTC.
In conclusion, Chainlink, Maker, and Wrapped Bitcoin are altcoins that whales have been closely monitoring. Their continued interest suggests confidence in the potential of these assets. If you’re considering adding altcoins to your portfolio, these could be worth considering.
Hot Take: Altcoins on Whales’ Radar for Potential Profits
Altcoins like Chainlink (LINK), Maker (MKR), and Wrapped Bitcoin (WBTC) have caught the attention of crypto whales. Chainlink’s recent surge in price due to successful tokenization rehearsals and growth in the RWA sector has attracted whale transactions. Maker saw an influx of large transactions after the US Fed’s rate halt announcement, while Wrapped Bitcoin has experienced increased whale transfers above $1 million since March. These altcoins present potential profit opportunities for investors. So, if you’re looking to diversify your portfolio, consider keeping an eye on these altcoins favored by whales.
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