Smart Investors Are Buying the Dip on These 3 Coins
Once crypto markets are weakening but there are some smart investors we call whales buying this dump. What does that mean? It means the whales are considering this dump a buying opportunity for these 3 coins before the 2024 massive bullrun. Which are these 3 coins? Let’s find out.
Bitcoin
As you’d expect, Bitcoin is on the radar of the top players. And there are several reasons for that: One is the SEC’s approval of spot Bitcoin ETFs earlier this month. There are massive expectations that the approval will affect Bitcoin’s price. Although we have not seen that yet, whales are going hard on Bitcoin. On-chain indicators show that whale transactions recently reached their highest levels in 18 months since June 2022. One whale reportedly purchased 1,750 BTC (about $76.9 million) from Binance.
Ethereum
Crypto whales believe now is the best time to gather the right tokens. And Ethereum is one token they’ve shown significant interest in. Data from Lookonchain shows that one whale increased the value of his portfolio by over 3,600 ETH tokens. This was worth over $8.9 million at the time. As per Lookonchain’s data, whales have snapped up $ETH worth around 26,841 $ETH($64.5M) in the last two days.
Cardano
Our final token today is Cardano. Cardano has seen massive development activities over the past few months. And whales have recognized this and are accumulating ADA. Crypto expert, Ali, recently revealed that Cardano whales bought over 14 million $ADA, (around $8.40 million at the time.) Data from IntotheBlock confirms the bullish whale activity on Cardano. It notes that Cardano has seen around $13B in large transactions (> $100k) on average.
Hot Take: Whales Know When to Buy
In conclusion, most traders are panicking because of continued price declines. There’s pressure to sell. But whales are smart. They know how the market works. And their actions show that this is the best window to add good crypto to your portfolio.
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