Here Are Four Crypto Assets That Whales Are Actively Buying Right Now
Whales are actively acquiring various digital assets, including Ethereum, Lido, Uniswap, and Aave, which could indicate bullish trends in the crypto market.
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Posted 8/24/2023, 11:28:19 AM
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The recent surge in Bitcoin's price on the Kraken exchange could signal a market reversal, according to believers of the "Kraken magic" theory, suggesting that large-scale purchases on regulated platforms indicate a whale's confidence in the asset's future performance. However, caution is advised as relying solely on price anomalies on one exchange may not accurately predict broader market trends.
Crypto whales are buying altcoins like Maker (MKR), Uniswap (UNI), and Optimism (OP) in preparation for potential gains in October 2023.
Global investment giant BlackRock has positioned itself to benefit from the growing importance of digital assets, including Bitcoin, through its substantial stake in MicroStrategy, indicating a new phase of institutional adoption in the cryptocurrency market.
Over one trillion SHIB tokens have been accumulated by Shiba Inu whales in just 24 hours, signaling a potential shift in the popular cryptocurrency's ecosystem, although the majority of these whales are affiliated with exchanges, suggesting a possible selling event and bearish sentiment.
A Bitcoin whale has moved $134 million worth of BTC out of a centralized exchange, coinciding with a decrease in the amount of BTC sitting in exchanges and an increase in whale transactions.
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.
Crypto whales are betting on the 100x potential of InQubeta (QUBE), an AI-powered altcoin that has maintained momentum despite the bearish trend, with its ongoing presale raising over $2.2 million in funding and offering investors a stake in AI-powered crypto projects.
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.
BTC's illiquid supply now makes up 80% of the total BTC tokens in circulation, indicating a shift towards long-term investment, while low exchange volumes could lead to volatile price swings; Bitcoin whales have begun adding to their stockpiles, signaling confidence in an upcoming bullish trend.
There is a possibility that digital assets may not witness another bull market, according to a crypto strategist who is growing skeptical of the market's potential for a bullish reversal this time around, citing a lack of real-world use cases and the failure to deliver on promises. However, another investor remains confident that a crypto bull market is coming, predicting a potential decline in prices before a new bull market begins.
ARK Invest CEO Cathie Wood predicts that the market capitalization of cryptocurrencies will increase by over 2,100% in less than seven years, driven by institutional investment and the potential approval of a Bitcoin exchange-traded fund (ETF), with the total crypto market cap potentially reaching $25 trillion by 2030.
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.
Ethereum's price has been declining, leading to concerns among investors, but there are two factors to consider: a drop in user activity and transaction volume on the Ethereum blockchain, which may be due to users migrating to faster and cheaper Layer 2 blockchains, and selling by Ethereum "whales" and insiders, including co-founder Vitalik Buterin, which could be attributed to profit-taking and security measures rather than a lack of confidence in Ethereum's future prospects. Despite the market's overreaction, Ethereum remains a strong investment with its dominance in various business segments and ongoing development plans.
Despite the uncertain regulatory environment and the current state of the crypto markets, asset managers remain interested in digital assets and expect the industry to grow in the next five years, with many estimating a compound annual growth rate of at least 11%.
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.
Crypto strategist predicts a significant expansion in the digital assets market similar to 2019, with the possibility of a short squeeze after a Bitcoin market correction.
Crypto is poised to create a new investable asset class globally and will revolutionize the internet, requiring new business models, metrics, and research structures, as well as a framework to analyze value flows within the tech stack, particularly in relation to Ethereum's layer 2 solutions.
Ark Invest's recent report highlights the recovery of Bitcoin's realized capitalization, the decline in liquidity and trading volumes, the recent increase in volatility, and the optimistic long-term outlook for the cryptocurrency.