Bitcoin and altcoin prices are down slightly, while whales, the big investors, are increasing their purchases. So, what are the latest coins in the focus of whales?
Expectation of post-fall momentum draws whales attention
cryptocoin.com As we reported, October 2021 was one of the best times for the crypto industry. We witnessed the biggest bull runs in the area. By November 2021, many major cryptocurrencies hit all-time highs. However, things are not looking so good right now. The rising dollar against other currencies has increased the distress of global investors and economies.
However, as many investors say, a falling market is the best time to enter the industry. Prices are relatively cheap. Many crypto projects have experienced declines on the monthly charts. However, markets often climb up after a drop. Historically, the largest crypto, Bitcoin (BTC), has always climbed higher than its previous peaks in every bull run.
What altcoin projects are in the focus of whales?
- Lido Staked Ether (stETH): Ethereum (ETH) has made a transition to a Proof-of-Stake (PoS) consensus method. Now Lido Finance has the highest stake, accounting for 31 percent of the total. Additionally, Lido’s staked Ethereum is locked for a period of one year. This indicates that Lido will concentrate in terms of demand as exports decrease. Whale interest in the project also increased. StETH currently accounts for 4.84 percent of the top 100 Ethereum whale investments.
- Shiba Inu (SHIB): SHIB is one of the most popular crypto projects on the market right now. Also, Shiba Inu has many products released this year. The project recently released its new game, Shiba Eternity. The team is currently working on a layer-2 network called Shibarium. The developers are also working on two additional tokens for the ecosystem, a stablecoin Shi and a reward token TREAT. Investors expect the SHIB team to release their Shibarium documentation very soon.
- Left (LEFT): While most crypto projects fell in double-digits throughout the month, SOL kept that number at 5.1 percent. Also, the project is gaining ground on Ethereum in the NFT market. SOL announced at the beginning of the summer the launch of a crypto phone, which is expected to launch in January 2023. However, the price of SOL has been moving sideways since September. However, Twitter analyst “Altcoin Sherpa” believes SOL is currently in accumulation mode. Crypto analysts believe the project will rise in October 2022 as it has been hovering at the same level for a while.
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