3 Altcoins Whales Are Buying to Make Millions
Whale accumulation is one of the important indicators to predict the direction of the market in the coming days. During the solana meme money craze, whales turned investments worth thousands into millions within days or weeks. Here are 3 altcoins that whales are buying right now.
3 Altcoin Whales Are On The Rise
Following the warmer-than-expected 3.5% CPI release, whales sold most of their holdings in Solana, Ethereum, and Bitcoin. According to whale transactions seen by parofix, smart money is still holding on to their investments or buying some altcoins.
1. Commute to work
Pendle (PENDLE) is witnessing a surge in investor interest, defying the broader market sell-off. On-chain analysis platforms reveal a significant increase in whale accumulation of PENDLE with increasing interest and investment in cryptocurrency.
Lookonchain and Spot On Chain reported that whales have withdrawn and deposited a significant amount of PENDLE tokens worth millions of dollars. Wallet addresses 0xe675 and 0xAa4c in particular have caused a significant withdrawal of PENDLE tokens from Binance over the past few days; The total of this figure reached millions of dollars.
Meanwhile, 0xe675 withdrew 295,443 PENDLE worth about $1.95 million today, while 0xAa4c withdrew 115,500 coins worth about $764,000.
PENDLE price increased by over 27% in a week and by over 115% in a month. Further upside is expected as Pendle Finance generates large fees and revenues, and the increase in volume and liquidity injects new vitality into the project.
2. Producer (MKR)
MakerDAO and Maker Protocol’s governance token, maker (MKR), have attracted great attention not only from whales but also from institutional investors.
MakerDAO, the decentralized autonomous organization behind the dai stablecoin, has approved increasing the debt ceiling for Ethena’s USDe synthetic dollar to $1 billion. MakerDAO offered additional returns to its users by strengthening its cooperation with Ethereum.
On-chain platforms reported 13 new wallets withdrawing 13,560 MKR worth $47.8 million from binance in one week. Of these, $30.8 million was withdrawn in the last 12 hours. Additionally, three more wallets made test withdrawals of 0.0055 MKR and more token withdrawals soon.
MKR price has fallen 2% in the last 24 hours amid a broader market sell-off and the price is currently trading at $3,411. The price increased by 32% in one month and 400% annually.
3. Brake Pad (FP)
Fren Pet is a Tamagotchi-like crypto mobile game built on Base. Fren Pet’s native token FP price increased by 45% in the last 24 hours, 90% in a week and over 800% in a month.
Nansen reported that whales are purchasing massive amounts of FP tokens. One of the top FP buyers has been buying aggressively over the last 2 days; At the time of this writing, it is yielding over 30% and its total assets are worth over $450 thousand.
Crypto trader Ansem purchased $32,000 worth of FP tokens after Fren Pet’s great excitement. Some whales who have been holding the tokens for weeks purchased FP once again in the last 24 hours.
FP price is currently trading at $13.14; The 24-hour low is $8.68 and the 24-hour high is $16.38. Trading volume increased by 800% in the last 24 hours.
Also Read: CPI – JPMorgan, Other Banks Have Been Predicting Hot Inflation for Months, Will Bitcoin Fall Below $60,000?
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Varinder has 10 years of experience in the Fintech industry and has been dedicated to blockchain, crypto and Web3 development for over 5 years. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in more than 5,000 news stories, articles, and articles. Varinder believes in the great potential of future innovative technologies with parofix Media. He currently covers the latest updates and developments in the crypto industry.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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