Crypto whales are buying altcoins like Maker (MKR), Uniswap (UNI), and Optimism (OP) in preparation for potential gains in October 2023.
Whales are actively acquiring various digital assets, including Ethereum, Lido, Uniswap, and Aave, which could indicate bullish trends in the crypto market.
Summary: A small group of companies and individuals, known as "whales," hold a large percentage of Bitcoin's current supply, leading to concerns about Bitcoin's decentralized distribution and its original purpose of erasing the influence of governments and traditional financial institutions; key whales include Satoshi Nakamoto, Tim Draper, the Winklevoss Twins, Michael Saylor, Changpeng Zhao, and several public companies, private institutions, and even governments.
Bitcoin's recent surge in value may be attributed to a $10 billion investment by whales, Robinhood's involvement in a $3 billion Bitcoin purchase, and JPMorgan analysts predicting an end to the crypto bear market.
Bitcoin's velocity has decreased to a 3-year low, potentially suggesting that whales are holding onto their positions rather than transferring ownership to new investors. Meanwhile, select altcoins like Toncoin, Monero, Mantle, and Quant are showing signs of strength and could present short-term trading opportunities depending on Bitcoin's next move.
Crypto analyst Ali Martinez warns that Chainlink (LINK) could experience a significant correction of up to 50% as whale transactions decline, indicating a lack of trading interest, while Bitcoin (BTC) may drop 10% if it loses key support and Ethereum (ETH) layer-2 blockchain Optimism (OP) is showing bearish signals with a potential drop of over 47%.
Large BTC investors, known as "whales," have increased their holdings by $1.5 billion in the last two weeks of August, indicating organic buying demand and optimism among institutional investors as the approval of bitcoin exchange-traded funds (ETFs) approaches.
Some altcoins like OKB, Ocean Protocol (OCEAN), Bitcoin Cash (BCH), and Toncoin (TON) show potential for bullish trends in September, with OKB potentially hitting a new all-time high at $72.10. However, a breakdown in the support areas could result in bearish trends for these cryptocurrencies.
A crypto analyst warns that Pepe could decline by more than 50%, Bitcoin Cash (BCH) is likely to keep declining, and Bitcoin will experience volatility before a bull cycle in 2024-2025.
Crypto whales have taken advantage of the recent downturn in altcoin markets to buy discounted Polygon (MATIC), Litecoin (LTC), and Apecoin (APE) tokens, potentially increasing confidence in the long-term viability of these projects.
Bitcoin (BTC) and Ethereum (ETH) experienced stable prices over the week, while Bitcoin Cash (BCH) and Toncoin (TON) saw notable price increases, and Stellar (XLM) suffered a decrease; Sony is developing a blockchain network in collaboration with Startale Labs, PayPal launched crypto to USD off-ramps, and Deutsche Bank partnered with Taurus for custody and tokenization services.
Bitcoin Cash (BCH) is showing bullish signs on the daily chart, with the price potentially breaking out if it stays above $200, according to crypto trader DonAlt, who believes the future trajectory of BCH and other altcoins will heavily depend on Bitcoin's performance.
Bitcoin whales are showing a "risk-on mode" by transferring BTC from spot to derivative exchanges, indicating a bull market, according to crypto analyst Ki Young Ju.
Bancor Network's native token, BNT, experienced a significant surge in value after a crypto whale, suspected to be the Upbit exchange, accumulated millions of BNT tokens, causing the price to rise by almost 40% in 24 hours. A similar rally was observed with Orbs (ORBS) as 93.8% of its trading volume came from Upbit, resulting in a 43% price increase.
Bitcoin cash (BCH) has seen the most improvement in market liquidity during the third quarter, making it an attractive alternative cryptocurrency for traders anticipating market volatility, according to Paris-based crypto data provider Kaiko.
Large Ethereum holders have been selling off their holdings, while Bitcoin whales have been accumulating, prompting speculation about the different sentiments among the two groups and leading to debates on regulatory concerns and the complexity of smart contracts.
High-profile cryptocurrency investors, known as "whales," have transferred a significant amount of Bitcoin, Ethereum, Shiba Inu, and XRP, totaling $511 million, with transactions taking place between Coinbase, anonymous wallets, and various crypto exchange platforms.
Bitcoin (BTC) surged to $29,300, driven by optimism surrounding a potential approval of a Bitcoin exchange-traded fund (ETF) in the U.S., while other forks of Bitcoin, such as Bitcoin Cash (BCH) and Bitcoin SV (BSV), experienced significant gains, indicating possible irrational exuberance. There is anticipation that the approval of a Bitcoin ETF, along with the upcoming halving event in April, could ignite a strong bull market.
Bitcoin Cash (BCH) could potentially increase by 25% from its current value, according to crypto trader Altcoin Sherpa, who also mentions positive outlooks for Rollbit (RLB) and Unibot (UNIBOT).
The decentralized oracle network Chainlink has seen a surge in whale transactions, active addresses, and trading volume, reaching three-month highs as the digital asset gains momentum.
Whales are showing significant interest in Tellor (TRB), the Ethereum-based Chainlink rival, as the asset experiences a surge in unique transactions and increased market cap despite being down from its all-time high.
