Last week, the cryptocurrency Market experienced a significant crash, causing a decline in investor confidence. However, despite this setback, crypto whales, or large institutional investors, seem to be buying three specific altcoins in anticipation of gains in October.
One of these altcoins is Maker (MKR), which is the governance token of MakerDAO, a decentralized finance (DeFi) protocol that issues and manages a stablecoin called DAI. Maker recently increased the savings rate for DAI to 8%, which has attracted significant interest from whales. On-chain data shows that whales holding between 100,000 and 10 million MKR Tokens added 16,000 tokens to their Wallets between August 13 and August 21. This influx of tokens is valued at $16.14 million and suggests that MKR may experience significant gains in October if the downward trend subsides.
Another Altcoin that whales are showing interest in is Uniswap (UNI), which reached a four-month high on August 2 but has since experienced a 30% price correction. Despite this correction, whale activity in UNI increased by over 420% between August 13 and August 21. This indicates that whales are optimistic about the future performance of UNI and suggests potential significant gains in October. However, there are also indications that the price of UNI may experience some consolidation before breaking out.
Lastly, Optimism (OP) is an altcoin that has caught the attention of whales. Despite the market crash on August 17, whales holding between 100,000 and 1 million OP tokens have been buying more of the altcoin. Between August 17 and August 22, these whales added 3.22 million OP tokens to their wallets, worth $4.5 million. This level of whale demand indicates that institutional investors remain positive about the potential earnings of the Optimism network in October.
In summary, despite the recent market crash, large institutional investors are still showing interest in certain altcoins, such as Maker (MKR), Uniswap (UNI), and Optimism (OP). The increased whale activity in these altcoins suggests that these institutional investors anticipate significant gains in October. However, it is important to note that market conditions can change rapidly, and investors should exercise caution when making Investment decisions..
#Altcoins #Entered #Radar #Crypto #Whales #Profit
One of these altcoins is Maker (MKR), which is the governance token of MakerDAO, a decentralized finance (DeFi) protocol that issues and manages a stablecoin called DAI. Maker recently increased the savings rate for DAI to 8%, which has attracted significant interest from whales. On-chain data shows that whales holding between 100,000 and 10 million MKR Tokens added 16,000 tokens to their Wallets between August 13 and August 21. This influx of tokens is valued at $16.14 million and suggests that MKR may experience significant gains in October if the downward trend subsides.
Another Altcoin that whales are showing interest in is Uniswap (UNI), which reached a four-month high on August 2 but has since experienced a 30% price correction. Despite this correction, whale activity in UNI increased by over 420% between August 13 and August 21. This indicates that whales are optimistic about the future performance of UNI and suggests potential significant gains in October. However, there are also indications that the price of UNI may experience some consolidation before breaking out.
Lastly, Optimism (OP) is an altcoin that has caught the attention of whales. Despite the market crash on August 17, whales holding between 100,000 and 1 million OP tokens have been buying more of the altcoin. Between August 17 and August 22, these whales added 3.22 million OP tokens to their wallets, worth $4.5 million. This level of whale demand indicates that institutional investors remain positive about the potential earnings of the Optimism network in October.
In summary, despite the recent market crash, large institutional investors are still showing interest in certain altcoins, such as Maker (MKR), Uniswap (UNI), and Optimism (OP). The increased whale activity in these altcoins suggests that these institutional investors anticipate significant gains in October. However, it is important to note that market conditions can change rapidly, and investors should exercise caution when making Investment decisions..
#Altcoins #Entered #Radar #Crypto #Whales #Profit
