Merry Christmas to our crypto family! I hope you’re spending time with your loved ones and having all the fun you can. While you’re at that, don’t forget to keep your eyes on the market, because the market never sleeps.
Whale Accumulation in Altcoins
Crypto whales have been showing interest in a few altcoins recently, which is a good indicator as their large purchases influence the market’s direction. Let’s take a closer look at three major tokens that whales have been busy with and why these tokens are trending.
1) Ethereum (ETH)
Ethereum has been on a steady upward trajectory, crossing the $2,000 threshold. Major Ethereum whales have been accumulating over 100,000 ETH in the last week alone, totaling $230 million. Other technical indicators also support this speculation.
2) Bitcoin (BTC)
Bitcoin recently faced a significant drop in price but institutional investors took advantage of it and purchased a substantial amount of BTC. This shows confidence in the market and experts predict that the price of Bitcoin will return to the $50,000 range in the short term.
3) Cardano (ADA)
Cardano has seen heavy growth recently, with an increase in large transactions exceeding $100,000. This indicates increased institutional and whale interest in ADA, which often precedes price spikes. The market value of ADA has also increased significantly.
Hot Take: Solana’s Rising Popularity
Solana is another altcoin that is showing good signs. It has recently outperformed Ethereum scaling solutions in terms of transaction volume and projects associated with Solana, such as the meme coin BONK, are enjoying impressive success. Solana’s DeFi ecosystem has also hit a new yearly high. It’s only a matter of time before this project reaches new heights.
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