What are Crypto Wells Buying: Third Week of December 2024

What are you buying crypto well? This is one question that investors want to know, especially when the price of the altcoin is not at the highs it reached a few weeks ago.

In particular, JasmyCoin (JASMY), XRP and Polygon (POL) have emerged as the main targets of whale buying. Here's a closer look at why these properties are attracting significant attention and what might be next.

JasmyCoin (JASMY)

JasmyCoin, also known as the “Japanese Bitcoin,” has seen a whale of an increase this week. This comes amid a 30% drop in altcoin prices over the past seven days.

According to Into Zeblock, on Monday, December 16, the net flow of large holders was 10.22 million. The net flow of large holders is the difference between the whales of tokens stored and distributed.

However, as of this writing, the figure has risen to 54.74 million, indicating that crypto whales have bought about 44.52 million JASMY tokens this week. At current prices, this means that these stakeholders have invested $1.38 million into the altcoin.

This development suggests that crypto whales will see JasmyCoin as one of the top altcoins to buy during the dip. If their rallying trend continues, increased demand could push JASMY's price to $0.10.

However, if whales turn their attention away from JasmyCoin or reduce their demand, the price correction could be extended further.

XRP

Ranked as the 4th most valuable currency, XRP is once again part of the altcoin crypto whales are buying. On December 15, the balance of addresses between 1 million and 10 million XRP was $4.85 billion.

Today, this number is 5 billion, which means that crypto whales bought 150 million tokens this week, which means that they bought about $ 327 million dollars of altcoins this week.

This development suggests that the broader market expects XRP to be one of the first cryptos to recover once assets recover. If that happens, the price of XRP could rise to $3. However, if the selling pressure increases, the token may slip below $2.

polygon

Pol, formerly known as MATIC, is another altcoin crypto whales bought this week. This week the pole price is down 26.29% and is 65% off its all-time high.

For many market participants, the altcoin may find it difficult to return to its previous highs. However, it appears that CryptoWales does not share this sentiment as the 1 million to 10 million group increased their assets from 310.83 million to 315.94 million.

If this accumulation continues, the value of the Polygon ecosystem token may grow to $1. However, if whale stocks decline, the signal is at risk of significant decline.