The cryptocurrency market is experiencing a cooling period following significant gains. Experts indicate that this is related to a historical summer downturn, but a major rally is anticipated after September.
Market Overview
Currently, the cryptocurrency market is influenced by a bearish trend. However, data analysis shows that interest from investors in certain assets remains.
Whale Preferences
According to Santiment data, whale investors are showing activity in four altcoins that may be off the mainstream radar. These altcoins include Immutable (IMX), Curve DAO Token (CRV), Bitcoin Cash (BCH), and Convex Finance (CVX). Over the last three months, the following activity was observed:
- IMX: 2nd highest whale transaction volume - CRV: 4th highest whale transaction volume - BCH: 5th highest whale transaction volume - CVX: 5th highest whale transaction volume.
Future Predictions
Experts expect that after the summer season, there will be a renewal of growth in the cryptocurrency market. This could also lead to increased interest in the mentioned altcoins if their appeal to whales continues.
Tracking whale activity may assist investors in identifying potential opportunities in the altcoin market, particularly in the current bearish trend.
