Crypto Whales Bought These Altcoins in the Third Week of December 2024

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As a seasoned analyst with years of experience in the ever-evolving crypto market, I find it intriguing to observe the buying patterns of the influential crypto whales, particularly during periods of market correction such as the one we’re currently witnessing. The focus on JasmyCoin (JASMY), XRP, and Polygon (POL) is a testament to their potential for growth despite the current dip in prices.

Investors might be curious to find out which cryptocurrencies the large-scale investors, often referred to as ‘crypto whales’, are purchasing. This is particularly intriguing given that the values of most altcoins are significantly lower than their recent peaks.

Of particular interest among cryptocurrencies are JasmyCoin (JASMY), Ripple‘s XRP, and Polygon (POL). We’ll delve into the reasons behind their growing popularity and potential future developments.

JasmyCoin (JASMY)

As an analyst, I’ve noticed a notable surge in large-scale investors, often referred to as ‘whales,’ amassing JasmyCoin, which is sometimes called the “Bitcoin of Japan.” This phenomenon occurs concurrently with a 30% decline in the altcoin’s value over the past week.

As a researcher, I found that the netflow for large token holders, as reported by IntoTheBlock, amounted to approximately 10.22 million on Monday, December 16. In simpler terms, this figure represents the difference between the number of tokens these whales acquired and dispersed during that day.

Currently, it’s been reported that the total number of JASMY tokens held by crypto whales has grown to approximately 54.74 million. This suggests they purchased around 44.52 million tokens this week. Given the current price, these significant investors have put in roughly $1.38 million into the altcoin market.

This growth indicates that major crypto investors consider JasmyCoin among the best alternative coins to purchase during a market downturn. If they keep buying more, this rising interest might push up the value of JASMY tokens towards 10 cents.

If whales start paying less attention to JasmyCoin or lose enthusiasm, there’s a possibility that the downward adjustment in its price might continue.

XRP

As a crypto investor, I’m keeping a close eye on XRP, currently ranked as the fourth most valuable cryptocurrency. It seems that the ‘crypto whales’ are once again showing interest in XRP. On December 15th, the total value held by addresses containing between 1 million and 10 million XRP was an impressive $4.85 billion. This substantial holdings suggest a growing confidence in XRP’s potential.

As an analyst, I’m observing a significant trend in the crypto market this week. To be precise, I estimate that the ‘whales’ – large-scale investors – have bought approximately 150 million tokens, which translates to around $327 million worth of the altcoin. With a current global circulation of roughly 5 billion tokens, this suggests a substantial investment in the altcoin by these whale investors.

This progression indicates a general market prediction that XRP could potentially lead other cryptocurrencies in an upward surge as soon as the market recovers. If this occurs, the value of XRP could potentially soar to around $3. But if selling pressure intensifies, the token might dip below the $2 mark.

Polygon (POL)

In the recent week, it’s been noticed that cryptocurrency whales have invested in Polygon (formerly known as MATIC). However, Polygon’s price has dipped by 26.29% this week and currently stands 65% lower than its record high.

For many market participants, the altcoin might find it difficult to return to its all-time high. However, it seems that crypto whales do not share this opinion, as the 1 million to 10 million cohort increased their assets from 310.83 million to 315.94 million.

As a crypto investor, I find myself observing the steady accumulation of Polygon ecosystem tokens. If this trend persists, it’s plausible that the token price could surge towards the $1 mark. On the flip side, should whale accumulation diminish, there’s a significant risk of a substantial drop in the token’s value.

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2024-12-21 01:38