What Crypto Whales Are Buying For December 2024: FTM Leaders

Whales consistently play a significant role in shaping crypto market prices, making it valuable to monitor their buying activity.

In this analysis, BeInCrypto highlights the top altcoins that whales accumulate. For December, these include Fantom (FTM), Dogecoin (DOGE), and Optimism (OP).

Phantom (FTM)

FTM, the Fantom token of the Layer-1 blockchain, tops the list of altcoins to buy for December by Crypto Wells. Based on our findings, whales are buying this token mostly because of the final transition from Phantom to Sonic, with the Shard snapshot expected to take place on December 1st.

According to Sentiment, the balance of wallet addresses holding between 1 million and 10 million FTM in 2018 On November 24, it was about 202 million. Today, however, it has risen to 208.74 million, suggesting that the whales are preparing for an epic FTM rally.

If that continues, Phantom's price could rise to $2 by December 2024. But if these stakeholders decide to continue accumulating, that may not be the case and FTM may drop below $1.

Dogecoin (DOGE)

As in previous months, Dogecoin is once again on the list of coins to buy crypto wells for possible disruptions in December. According to IntoTheBlock, the net flow of large owners has increased from the price of a few days ago.

This net flow measures the difference between the prices of coins bought and sold by whales. Whales sell more coins when it's negative.

A few days ago, the coins caught by the whalers were about 642 million. But at the time of writing, it had risen to 1.72 billion, indicating that the whales had accumulated more than $1 billion worth of doji in the past few days.

If they continue to buy, the price of Dogecoin will likely continue to rise come December. If not, the value of the cryptocurrency may drop.

Optimism (OP)

Optimism, a Layer-2 project built on top of Ethereum, is another project that Crypto Wells is buying. While the OP hasn't seen any major growth, the notion that ETH prices could rise in December seems to be one of the reasons whales are buying.

Historically, when the price of Ethereum increases, the OP rises significantly. According to Sentiment, the balance of addresses held by wallets containing 10 million to 100 million OP tokens has increased significantly.

If this trend continues, OP price could experience a significant rally in December, with targets at $4. However, investors can be cautious. This may not happen if Crypto Wells stops buying. Instead, the OP can drop below $2.