Crypto Whales Bet Big on Mollars, Toncoin, and Cardano
The cryptocurrency market is currently experiencing a significant shift when it comes to mainstream adoption. Embarking on the Bitcoin halving, and BTC ETF hype, the space is seeing an increase in its users.
On that trend, crypto whales—investors capable of moving market trends due to their sizable funds—are also becoming more active. Interestingly enough, whales appear to be diversifying their holdings, betting on promising altcoins capable of becoming industry giants in the future
Toncoin has made a dramatic entrance into the top ten cryptocurrencies, surpassing well-known assets like Shiba Inu and Cardano. The catalyst for this ascent was the March announcement of Telegram’s potential initial public offering (IPO), prompting whales to accumulate TON in anticipation of a price surge. This accumulation was reflected in a significant rise in transactions valued over $100,000 and even those surpassing $1 million. Toncoin’s price experienced a staggering 238% increase, peaking at $7.24 before stabilizing around $5.35 as the initial rally cooled off.
Since November 2023, Cardano (ADA) has seen a notable increase in accumulation by crypto whales. This trend has picked up significantly in recent days, with transactions exceeding $100,000—typically the hallmark of whale activity—becoming more frequent.
Although this surge in whale activity hasn’t yet translated into a significant price increase, the growing interest from these big players could eventually provide a boost to Cardano’s market value. Despite holding less than 10% of ADA’s circulating supply, these whales play a crucial role in driving daily trading volumes, suggesting that their sustained interest could herald positive price movements in the near future.
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