What Crypto Whales Are Buying for December 2024: FTM Leads
Whales have always played an important role in shaping cryptocurrency market prices, so it’s worth tracking their buying activity for potential gains.
In this analysis, BeInCrypto highlights the top altcoins that whales are accumulating. In December, these include phantom (FTM), Dogecoin (DOGE) and Optimism Coin (OP).
Phantom(FTM)
FTM, the token of Layer-1 blockchain Fantom, topped the list of altcoins purchased by crypto whales in December. According to our findings, whales are buying the coin primarily because of the upcoming finals Transition from Fantom to Sonicits shard snapshot is expected to be taken on December 1st.
According to Santiment, wallet On November 24, there were approximately 202 million addresses holding between 1 million and 10 million FTMs. But today, that number has increased to 208.74 million, suggesting that whales may be preparing for a significant rebound in FTM.
If this continues, then Fantom prices may rise By December 2024, the target will be $2. However, if these stakeholders decide not to continue accumulating, this may not happen and FTM could fall below $1.
Dogecoin (DOGE)
As in previous months, Dogecoin once again appeared on the list of coins purchased by crypto whales for potential gains in December. According to IntoTheBlock, net flows from major shareholders have increased compared to previous days.
This net flow measures the difference between the value of tokens purchased and sold by whales. When negative, whales sell more coins.
A few days ago, whales held approximately 642 million coins. But as of this writing, that number has risen to 1.72 billion, suggesting whales have accumulated DOGE’s value exceeded $1 billion in the past few days.
If they continue to buy, the price of Dogecoin may continue to rise come December. If not, then Cryptocurrencies may lose value.
Optimism (OP)
optimismLayer-2 projects built on Ethereum are another project that crypto whales are buying. While the OP didn’t see any major developments, the sentiment that ETH price could climb in December appears to be one of the reasons whales are buying.
Historically, when the price of Ethereum increases, OP increased significantly number. According to Santiment, wallet address balances holding between 10 million and 100 million OP tokens have increased significantly.
If this trend continues, OP’s price could experience significant gains in December, with a possible target of $4. Still, investors may want to remain vigilant. This may not happen if crypto whales stop buying. On the contrary, OP may fall below $2.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
