As a seasoned analyst with years of experience under my belt, I must say this week has been quite intriguing in the world of altcoins. The strategies employed by the crypto whales seem to be evolving, and it’s always fascinating to decipher their moves.
This week, major cryptocurrency investors (referred to as ‘whales’) saw substantial increases in the prices of altcoins they hold. Interestingly, BeInCrypto noticed a shift in their accumulation strategies compared to those seen in previous weeks.
In this examination, we’ll disclose some of the leading altcoins that large cryptocurrency investors (crypto whales) purchased during the second week of December 2024.
Aave (AAVE)
This week, Aave, the token for the decentralized lending and borrowing platform, has been the preferred choice among crypto giants. According to IntoTheBlock’s data, the netflow of large Aave holders – a measure that monitors whale activity – was nearly 4,000 on December 11.
Currently, the number stands at 87,860 for the DeFi token’s holdings by the crypto whales, suggesting they’ve boosted their investment in this token. With the token’s present value, this increase indicates that whales have purchased approximately $35 million of the asset.
As a researcher, I’ve noticed an intriguing trend: The price of AAVE appears to have escalated significantly over the past week, reaching $370.34 – a 42% increase. This surge might not only be due to whale activity but could also be connected to the recent reports suggesting Donald Trump’s crypto project has acquired this altcoin.
If whales choose to keep purchasing, the price of AAVE may potentially increase further. Yet, if there’s a surge in sellers, this trend could reverse, possibly leading to a decrease and potential loss of some gains.
Virtuals Protocol (VIRTUAL)
This week, one of the cryptocurrencies that large investors (crypto whales) have purchased is VIRTUAL, which serves as the native token of an AI protocol established on the Base blockchain.
As an analyst, I’ve found some intriguing insights from Santiment’s data. Specifically, entities controlling between 100 million and 1 billion VIRTUAL tokens have been amassing a significant portion of the altcoin. For instance, on December 12, these addresses held approximately 145,000 tokens.
Today, the number has risen to approximately 6.44 million, suggesting that crypto whales acquired around 6.3 million virtual tokens worth nearly 15 million dollars. This significant purchase caused the price of VIRTUAL to hit a record high and its trading volume to surge past $220 million.
Should this pattern persist, the value of the altcoin may surge beyond $2.30. Yet, if selling for profits becomes more common, this trend could potentially flip.
Ondo (ONDO)
Today’s cryptocurrency list saw a purchase by crypto whales, specifically ONDO – the token tied to Real World Assets (RWA) tokenization. This week, data from IntoTheBlock revealed an increase of 7.34 million ONDO tokens in the whales’ possession.
Due to the increased demand for ONDO, its price surged by 17% this week. Should large cryptocurrency investors (whales) persist in buying the altcoin, it might soar beyond $2.
If big organizations decide to purchase, it’s possible that ONDO will remain at or above $1. But, if these crucial investors start selling off their shares, things might shift, potentially causing ONDO to fall below the $1 price point.
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2024-12-14 01:43