The cryptocurrency market is going through difficult times. However, crypto whales are not giving up. Recently, whales have been filling their wallets with 3 altcoins. This does not go unnoticed. crypto expert Lawrence Mike Woriji takes a closer look at these altcoins that whales love.
First place Chainlink (LINK) is coming
Chainlink became one of the biggest gainers in the top 20 crypto rankings in September, with a 30% increase. Key factors in LINK’s recent rise include a successful tokenization rehearsal with SWIFT and the rise in the Real World Assets (RWA) sector. On-chain data shows that whales have continued to be interested in LINK over the past few weeks.
@Alphanomics_io
WOAH! 🤯chainlink has been trending on Ethereum in the past 24 hours, per @Alphanomics_io 💧
This particular whale transacted 1580 usd of chainlink in the last 12 hrs 👀 pic.twitter.com/fJLkPa9Nlm
— imtiaz | Full Force 💧 (@imtiaz7435) October 9, 2023
IntotheBlock data shows that whale transactions increased from 30 to 218 between September 17 and October 2. A whale recently purchased 424,443 LINK for a total of $3.25 million. The altcoin price immediately increased as a result of this large buy order. This latest purchase comes days after major purchases by the same organization. In the previous purchase, the whale bought 788,877 LINK, paying $6 million.
Such a consistent increase in whale activity is generally positive for the price of an asset for several reasons. Because it increases market liquidity. Thus, it makes it possible for users in the spot market to carry out buying and selling transactions effectively. Additionally, whale activity inspires other strategic individual investors. Whales’ continued interest in LINK demonstrates their belief in its potential.
This whale spent $3.25M to buy 424,443 $LINK again at a price of $7.67 an hour ago.
Which caused the price of $LINK to increase again.https://t.co/pRCcK2tQAa pic.twitter.com/VHe2CTrBTi
— Lookonchain (@lookonchain) October 8, 2023
The second altcoin in the spotlight of whales: Maker (MKR)
Maker is another notable altcoin whose price benefited from a macro event in September. cryptokoin.com As you follow from , Maker saw a huge influx of transactions on September 20th. This was shortly after the US Fed announced it was suspending interest rates. The chart you see on your screen shows only 9 whale transactions on the Maker network on September 19th. However, this number increased rapidly. Thus, on October 2, it reached 102 large transactions, the highest level in the last 6 months. It looks like whales have turned to Maker for its attractive 8% DAI savings rate.
Crypto whales are making waves in the Bitcoin Cash market! On-chain data reveals an impressive $35M spent on purchasing 150K BCH over the past fortnight. Could this lead to another bullish rally? Time will tell! #BitcoinCash #CryptoWhales pic.twitter.com/046sGvuZl2
— Whales Finder (@WhalesFinder) October 4, 2023
However, MKR has recently experienced a price drop. But the whales used this time to increase their savings. Lookonchain data shows that a whale made large MKR transactions last week. Whale purchased approximately 1,750 MKR worth $2.5 million at an average price of $1,429.
By the way, whales were active for the altcoin today as well. A whale withdrew 840 MKR ($1.17 million) from Binance, Lookonchain reported. After this, the MKR price rose 1.7% for a short time. Whale had withdrawn 1,457 MKR ($1.61 million at the time) from Binance on July 25 when the price was $1,105.
A whale withdrew 840 $MKR ($1.17M) from #Binance again just now and the price of $MKR briefly rose 1.7%.
The whale withdrew 1,457 $MKR ($1.61M at the time) from #Binance on July 25 before, when the price was $1,105.
https://t.co/Be14ZMAOhE pic.twitter.com/y7xvQLtLgc— Lookonchain (@lookonchain) October 11, 2023
Wrapped Bitcoin (WBTC) is in last place
Santiment claims that whales have turned their attention to Wrapped Bitcoin (WBTC). Data shows that more large WBTC transactions have occurred since March than ever before.
🟠 #Bitcoin #Facts 🟠
Wrapped Bitcoin (#WBTC), which is the version of Bitcoin on the #Ethereum network, is at the highest level since March in big whale transactions worth over $ 1 million, showing the highest network growth rate in WBTC since July…👀🧡 #Crypto pic.twitter.com/LBwBhBf4As— All Facts Crypto (@AllFactsCrypto) October 7, 2023
Santiment revealed that WBTC whale transfers over $1 million increased at the fastest pace since March. In addition, WBTC experienced its strongest network expansion since July and an increase in new wallets holding 1-1,000 WBTC.
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