Top Altcoins Crypto Whales Bought This Week
The broader cryptocurrency market showed a strong recovery this week, reflected by a 4% increase in capitalization.
This recovery has led crypto-wells to accumulate a variety of altcoins, indicating their desire to capitalize on potential gains as market conditions improve.
MATIC has attracted significant whale attention this week as token holders prepare for the upcoming migration from MATIC to POL, set for September 4th. This estimate drove MATIC's price up 33%, making it one of the 100 best performing assets. Cryptocurrencies this week.
The double-digit rally attracted large investors, with the number of whale addresses holding between 1,000,000 and 100,000,000 MATIC tokens reaching a one-month high of 316.
Read more: 15 Best Polygon (MATIC) Wallets in 2024
Litecoin (LTC)
During the review week, Litecoin (LTC) saw a significant increase in whale stocks. According to data obtained by IntoTheBlock, the net flow of the coin's largest holders has increased by 141% in the past seven days.
Large holders are defined as addresses holding more than 0.1% of the property transfer offer. A network of large holders monitors the buying and selling activities of these wallets.
Read more: Litecoin vs. Ethereum: What's the difference?
When this measure increases, it suggests that whales are hoarding more coins, which is often an indicator that prompts retail investors to follow suit. A positive increase in net inflows of large shareholders suggests growing optimism among major investors, indicating potential for the upcoming rally.
At press time, LTC is trading at $64.08. If the whale stocks continue, the price could rise above $70, possibly reaching $73.87.
Ethereum (ETH)
Despite strong resistance at the $2,700 price level, Ethereum (ETH) whales continue to increase their holdings.
So far, ETH is trading at $2,674, the price has been moving in a tight range since August 9th, it has encountered resistance at $2,715 and finds support at $2,538.
These sideways moves didn't stop ETH Wells from accumulating more. According to Sentiment, the number of whaling addresses between 10,000 and 100,000 ETH reached 1,008, the highest level in more than a month.
Read more: How to invest in Ethereum ETFs?
This persistent accumulation suggests that large holders remain optimistic about ETH's future, even as the asset faces key resistance levels.
Disclaimer
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