Whales Show Renewed Interest in Altcoins

user avatar

by Giorgi Kostiuk

2 years ago

Whales, known for their significant influence in the crypto market, are returning to altcoins, focusing on ten notable coins and tokens.

Reassessment of Old Assets

Santiment analysts noted a significant increase in large transactions with ten notable assets in the past week. Among them, DeXe and AIOZ led with 1,000% and 706% growth in whale activity. Bitfinex's Unus Sed Leo (LEO) also saw a 400% spike, suggesting influence from Bitfinex participants. Maker (MKR) was an exception, with 120% activity signaling potential selling.

Interest in Web3 Tokens

Whales have also turned their attention to Web3 tokens, including Mantle (MNT), Safe (SAFE), SuperVerse (SUPER), and Decentraland (MANA), aiming to recover their 2021 highs. MNT is trading near its three-month peak at $1.27, SAFE has rebounded to $1.06, and MANA has consolidated around $0.52.

Is Altcoin Season Returning?

The altcoin season index is once again seeking direction, sliding to 53 points after a recent local high of 59 points. While an altcoin rally is expected in Q1, there are fears of another significant drawdown. Historically, rallies occurred in the first quarter, but the focus is now on whether older assets will join the rise.

The interest of whales in altcoins signals a potential resurgence, yet the market remains volatile, prompting cautious optimism from investors.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Zcash's Impressive Market Performance and ETF Launch

chest

Zcash has experienced a remarkable price increase, gaining over 2,300% in the past year, aided by the launch of Grayscale's Zcash ETF.

user avatarLucas Weissmann

Zcash Surpasses $1,000 Mark, Achieving New All-Time High

chest

Zcash's price broke above $1,000 for the first time in nearly a decade, marking a significant milestone in its market performance.

user avatarRajesh Kumar

Trezor Implements New Security Measures After Data Breach

chest

Trezor is enhancing security measures, including anonymous delivery options, in response to a data breach affecting 67,000 customers.

user avatarFilippo Romano

Data Breach Affects 67,000 Trezor Customers

chest

A data breach at shipping provider ShipMonk has exposed personal information of 67,000 Trezor customers in the US.

user avatarEmily Carter

BAI Establishes Global Settlement Layer for AI Agents to Enhance Collaboration

chest

BAI is building a global settlement layer to enhance collaboration and efficiency among AI agents across various workflows.

user avatarTomas Novak

BAI Launches Free Access to Premium AI Models, Surpassing 133 Trillion Daily Tokens

chest

BAI has launched free access to its premium AI models, leading to a significant increase in platform activity and user adoption.

user avatarKaterina Papadopoulou

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.