Should You Buy Now? Top 3 Altcoins Crypto Whales Are Accumulating in May
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Key Takeaways
Following the Bitcoin halving, crypto investors are seeking profit opportunities as Bitcoin’s price remains stagnant.
Big investors, known as whales, are diverting their funds from Bitcoin to altcoins like Cardano, Toncoin, and Arbitrum.
Whales’ interest in these altcoins indicates their belief in the potential for growth, even in the face of recent market declines.
After the recent Bitcoin halving in April, the crypto market anticipated potential gains. However, Bitcoin’s price has remained relatively stable.
So, what are the big investors, or “whales,” doing? They are now shifting their attention to altcoins, searching for new prospects. Experts suggest that these altcoins present promising opportunities for profitability.
So, which altcoins are catching the attention of these giants? Which ones might be the best choice for you? Let’s explore further.
Top 3 Altcoins Preferred by Whales
Cardano (ADA)
Since November 2023, Cardano has witnessed a steady accumulation by whales. This trend has gained momentum recently, with a noticeable increase in transactions exceeding $100,000. While this accumulation does not directly impact ADA’s price movement, it indicates growing interest from significant investors. Considering the significant influence of whales on daily trading volume, their continued accumulation of ADA could potentially support and even drive up its price in the future.
Toncoin (TON)
Toncoin’s ascent to the top ranks of cryptocurrencies began with speculation about Telegram’s upcoming IPO. This caught the attention of large investors, resulting in a flurry of high-value transactions. Despite a minor dip from its peak, Toncoin continues to appreciate, making it an attractive investment for profit-seeking investors. The ongoing interest from big investors demonstrates their confidence in TON’s growth potential.
Arbitrum (ARB)
Despite facing price corrections for nearly two months, Arbitrum remains a target for whale accumulation. With expectations of a post-halving rally diminishing and an impending token unlock event on May 16, whales may be aiming to capitalize on potential profits. The consistent accumulation of ARB by whales suggests a strategic move to prevent significant price declines, especially considering the impending increase in circulating supply. This accumulation could serve as a buffer against ARB’s price dropping below $1.00.
In a volatile market, where conditions are constantly changing, big crypto investors display adaptability by shifting their focus from Bitcoin to altcoins. Their interest in Cardano, Toncoin, and Arbitrum reflects their confidence in these assets, regardless of market fluctuations.
Do you agree with the whales’ choices? Which altcoins are you keeping an eye on?
Also Check Out:
Is Altcoin Season Approaching? Ethereum-Based Tokens Take the Lead.
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Altcoins