Altcoins Crypto Whales Purchased: December 2024 First Week
The first week of December 2024 saw crypto whales actively making significant moves, purchasing various altcoins. This buying spree reflects their growing confidence in these cryptocurrencies, which may be driven by favorable macroeconomic conditions or speculative opportunities.
As the activity of these whales continues to influence the market, here are the top three altcoins they bought this week.
World Coin (WLD)
World currency leader Altcoins Crypto whales were bought this week. According to data from IntoTheBlock, WLD’s net flow to large holders, which measures the difference between the number of tokens purchased and sold by whales, was negative on December 4.
Today, however, this number has increased to 57.25 million, indicating that crypto whales have accumulated massive amounts of WorldCoin.
At current prices, this accumulation is worth approximately $220 million. These noteworthy purchases appear to have impacted the price of Worldcoin, which increased by 35% to $3.86.
If whales continue to buy altcoins, WLD could climb to $5. However, increased selling by major shareholders may invalidate predictions and drive prices down.
Mantle (MNT)
MNT, the native token of the layer 2 network on Ethereum Mantle, was part of the altcoins purchased by crypto whales this week. this Decided to buy MNT Probably related to the performance of ETH.
Historically, when the price of Ethereum rises, other altcoins related to it tend to perform better. So it’s no surprise that Mantle’s price climbed to $1.23 this week. According to BeInCrypto’s findings, this development may also be related to the massive accumulation of whales.
According to Santiment, Mantle addresses holding between 10 million and 100 million tokens saw their balances increase by more than $4 million this week. Therefore, if the balances of these addresses continue to rise, the price of MNT will rise as well. On the other hand, a reduce Their holdings could push prices further down.
Bitcoin Cash (BCH)
Bitcoin CashThe 2017 Bitcoin hard fork was also one of the top altcoins purchased by crypto whales this week. According to data from IntoTheBlock, net traffic from large accounts dropped significantly on December 4.
But as of writing, that number has increased to 56,830, indicating that crypto whales bought $33.7 million worth of altcoins. This development may be related to Bitcoin price rises to $100,00, especially since the forks of the number one cryptocurrency have a strong correlation with it.
Going forward, if Bitcoin continues to rise, Bitcoin whales may continue to buy more of the cryptocurrency. In turn, this can Pushing BCH price higher. However, this may not happen if crypto whales decide to reduce their purchasing power.
Disclaimer
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