In the wake of the crypto market’s uneventful consolidation since the grand reentrance of the one and only Donald Trump, one might be forgiven for dozing off. Leading assets have been rather like the British weather—predictably dull and grey.
But lo! Beneath the tranquil waters, crypto whales have been on a stealthy shopping spree, snatching up certain altcoins with the grace of a walrus at a seafood buffet. This week’s delicacies include Avalanche (AVAX), Dogecoin (DOGE), and Lido DAO (LDO)—a veritable feast for the discerning crypto gourmand.
Avalanche (AVAX)
AVAX, that Layer-one gem, has been the belle of the ball among crypto’s deep-pocketed elite. Large holders’ netflow has surged by a rather unconservative 151%, according to the sages at IntoTheBlock. One can almost hear the jingle of coins in the whales’ digital wallets.
These ‘whale addresses’—repositories of more than 0.1% of an asset’s supply—are the crypto equivalent of Scrooge McDuck’s money bin. A rising netflow suggests these gentle giants are on a coin-buying binge, which could well translate into a price rally. Watch AVAX swim towards the golden shores of $40, if these behemoths keep their voracious appetites.
Dogecoin (DOGE)
Oh, the noble DOGE! That ever-loyal meme coin has once again found favor in the eyes of the whales. They’ve hoovered up 1.65 billion DOGE this week—enough to make a small country’s economy look like a lemonade stand.
If this trend continues, DOGE may well breach the $0.40 resistance like a particularly determined goldfish through a paper barrier.
Lido DAO (LDO)
And finally, we come to Lido DAO’s LDO, which has seen a veritable pod of whales converging upon it. Investors with more tokens than sense have scooped up 15 million LDO this week, valued at a princely sum that would make a royal flush blush.
If this accumulation persists, LDO might just float to the giddy heights of $2.26, proving once again that in the crypto sea, the whales always win.
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2025-01-24 17:38