Top 3 Altcoins Crypto Whales Are Buying This Week

2023-11-16 20:00

Crypto whales have switched focus to three promising altcoin projects this week. On-chain analysis beams the spotlight on how the timely whale inflows drove these tokens up the price charts. 

Crypto whales have been redirecting capital toward the altcoin market in recent weeks. Will these three altcoins deliver further gains in the coming weeks? 

FTT Whales Swooped in After Gary Gensler’s Statements 

FTT, the native token of defunct cryptocurrency exchange FTX, soared 90% this week. The price rally was attributed to comments from the US Securities and Exchange Commission (SEC) chairman Gary Gensler, who responded to questions surrounding a possible take over “within the law”. 

On-chain data has revealed how crypto whales swooped in to scoop large amounts of the FTT token. The chart below shows that following Gensler’s comments on Nov. 9, the whales carried out a 2023 peak of 95 large transactions the following day. 

FTT Token Large Transactions | Source: IntoTheBlock

The large transactions metric tracks crypto whales trading activity by summing up the number of daily transactions that exceed $100,000. Typically, a sharp increase in whale demand, as observed above, often triggers a bullish price action. 

Unsurprisingly, the FTT token price instantly rose to a 2023 peak of $5.33 in as the crypto whales reacted to Gensler’s comments. 

Although prices have declined 30% from last week’s peak toward $3.6, the chart above shows that the whales are still actively buying FTT. Hence strategic investors will keep an eye on the asset for further price gains.

Read More: Best Upcoming Airdrops in 2023

Large Investors Swooped in to Prevent Ripple (XRP) Dropping Below $0.65

XRP price entered a 13% free fall after retreating from last week’s peak of $0.72. However, as XRP tumbled to the critical $0.65 support level this week, crypto whales swooped in to buy the dip. 

Indicatively, the Santiment chart below shows that the whales (wallets holding 1 million to 100 million XRP)  intensified their buying pressure once price hit $0.65 on Nov. 12. 

Between Nov. 12 and Nov. 15, they added a staggering 90 million coins to their balances. 

Ripple (XRP) Whales Wallet Balance | Source: Santiment 

The whales wallet balance metric tracks real-time changes in the number of coins in custody of large institutional investors. The newly-acquired 90 million XRP are worth approximately $60 million, when valued at the current price of $0.66.

Such a large capital inflow from the whales’ buying activity indicates that they are positioning for another price breakout. If the whales continue to buy, XRP price could reclaim the $0.70 area in the coming days. 

Read More: Best Crypto Sign-Up Bonuses in 2023

Bargain Hunting Whales Keeping ApeCoin From Going to Zero

ApeCoin (APE), the native token of the Bored Ape Yacht Club (BAYC) ecosystem, fell to an all-time low of $1.02 in October. However, a cluster of millionaire crypto whales swooped in to accumulate APE tokens at bargain prices.

After nearly a month of buying pressure from the crypto whales, APE coin has rebounded 40%, briefly reclaiming the $1.40 area.

Santiment data reveals investors with balances of 1 million to 10 million ApeCoin have increased their holdings by another 10 million tokens between Oct. 26. and Nov. 10. 

ApeCoin (APE) Whales Wallet Balance | Source:Santiment

The 40% price bounce from all-time low, implies that some strategic retail investors have also been swayed to take bullish positions. If the whale accumulation continues, it could put to bed fears of ApeCoin token price going to zero.

In summary, institutional entities and high-net worth holders wield significant influence in a cryptocurrency ecosystem. Hence, crypto whales buying FTT token, Ripple (XRP), and ApeCoin (APE) at discounted prices this week could boost other investor’s confidence in these projects’ long-term viability.

Read More:  Top 9 Telegram Channels for Crypto Signals in 2023

The post Top 3 Altcoins Crypto Whales Are Buying This Week appeared first on BeInCrypto.

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Cardano (ADA) Next In Line For A Rally Following Shark And Whale Buying Spree

Cardano (ADA) has not exactly been the best performer in the last month. Instead, the altcoin’s price has continued to stall even during periods of market recovery. However, this trend could change pretty soon given the current accumulation trend among sharks and whales, something that could take a significant chunk of available supply off the open market and trigger another rally.

2023-8-10 21:00


PEPE Whales Load Up Their Bags As Memecoin Jumps 13%

Data shows the PEPE whales have been buying the meme coin as its price has observed a sharp 13% rally during the past 24 hours. PEPE Whales Have Bought 1. 56 Trillion Tokens During The Last Day After consolidating straight for more than a month, the meme coin based on the popular internet frog avatar finally buckled a few days back and saw a sharp decline, as did others in the sector like Bitcoin and Ethereum.

2023-7-28 20:00


Фото:

Bitcoin Sharks & Whales Show Strong Buying, Rally To Continue In July?

On-chain data shows that Bitcoin sharks and whales have continued to accumulate recently, something that could help the rally go parabolic this month. Bitcoin Sharks & Whales Have Continued To Add To Their Holdings According to data from the on-chain analytics firm Santiment, BTC sharks and whales have participated in further buying during the past two weeks.

2023-7-3 15:30


Whale Buying Impact: Considerations And Balanced Approach

When discussing the impact of whale buying on significant price increases, it’s important to consider various factors and adopt a balanced approach. Let’s explore both sides of the argument: Supporting the notion that whale buying can cause significant price increases: Market Influence: Whales, which refer to individuals or entities holding a large amount of a […]

2023-6-14 10:00


Polygon (MATIC) Price Eyes Breakout at Critical Resistance, Nike Partnership in Focus

Considering the growing buying pressure brought about by a group of strategically-minded large investors, or 'whales', is it likely that Polygon (MATIC) will surpass the $0.90 mark in the days ahead? The post Polygon (MATIC) Price Eyes Breakout at Critical Resistance, Nike Partnership in Focus appeared first on BeInCrypto.

2023-6-5 12:30


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