Crypto Whales Bought These Altcoins this Week
After a prolonged period of consolidation, cryptocurrency activity has picked up this week, with global cryptocurrency market capitalization gaining 2% during the period.
This new momentum has prompted large investors to accumulate select altcoins. Assets such as Ripple (XRP), Litecoin (LTC), and Toncoin (TON) have seen increased whale activity.
Ripple (XRP)
Ripple’s XRP has seen increased whale activity this week. According to Santiment, over the past seven days, large investors holding between 1,000,000 and 10,000,000 XRP tokens have purchased 180 million tokens, worth more than $590 million at current market prices.
In addition to improving market sentiment towards XRP, the accumulation of whales is partly due to reports that President-elect Donald Trump is Open to build A “US-first strategic cryptocurrency reserve” that reportedly includes assets such as XRP.
Furthermore, although the U.S. Securities and Exchange Commission officially start its attraction Amid legal action against Ripple Labs, XRP whales continue to buy the coin. This development has not dampened investor enthusiasm for Ripple’s XRP, its value climbed to a record high on Thursday.
Litecoin (LTC)
Litecoin (LTC) is another crypto asset that has caught the attention of crypto whales this week. In the past seven days, whales holding more than 10,000 LTC have acquired 300,000 LTC, worth more than $41 million.
This trend is driven by optimism about the future Potential approval of a location Litecoin exchange-traded fund (ETF) in the United States. Canary Capital recently amended its S-1 registration form with the U.S. Securities and Exchange Commission (SEC) on January 15, marking progress toward achieving this approval.
If this trend continues, the price of LTC will climb to $147.
TON
telegram link TON is one of the altcoins favored by crypto whales this week. This is reflected in the 1,048% surge in net flows from its major shareholders in the past seven days.
Large holders are whale addresses that hold more than 0.1% of the asset’s circulating supply. When their net traffic increased, they accumulated more tokens than were sold during the review period.
If TON whales continue to buy the altcoin, its price could climb to $6.
Disclaimer
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