With all the ups and downs in the market, have you ever wondered what the guys with deep pockets are doing with their money? I’m talking about crypto whales. I’m sure you have.
We’ve been keeping a close eye on some of the biggest whales in the game, and we’re here to reveal exactly which altcoins they’re loading up on. Here’s the truth: whales move the market. Knowing what’s in their wallets is a smart strategy.
1) Bitcoin (BTC)
So, first up is BTC. Whales are going hard on Bitcoin again. Recently, we saw Bitcoin touch that $70k range before sliding back down. Now, for the average investor, that might seem like a time to cash out or feel uncertain. But whales? They see this as a regular cycle – they’re not fazed. The dips are golden opportunities for them to stack up.
Check this out: right after Bitcoin dipped, a whale swooped in and got 550 BTC worth nearly $39 million. Let that sink in. This isn’t a small player – these are serious buys from serious wallets.
After the $BTC price dipped, a whale bought 550 #Bitcoin ($38.68M) 3 hours ago.
Address:
bc1qaygjcgvgmnk9909c2wwjgssl27h6rasntf0u0jzfc2n9kre456ksukcdtv pic.twitter.com/iuehQ4yIJG— Blockviews (@blockviews) November 1, 2024
And it’s not just one-off buys. Over the last two weeks, whale wallets with 100 or more BTC have increased by 297 wallets. That’s a 1.9% growth rate in just two weeks. These guys are stacking up. And they’re seeing something big on the way. And it’s not just individual whales. Popular analyst Miles Deutscher points out that institutional whales are accumulating Bitcoin at the fastest rate we’ve ever seen.
Bitcoin’s whale wallets, which we can define loosely as 100 or more BTC, have grown by 297 wallets (+1.9%) in just the past 2 weeks.
During the same timeframe, the amount of wallets with under 100 BTC has shrunk by 20,629 wallets (-0.1%).
As the largest key… pic.twitter.com/OZMEvopB6Y
— Santiment (@santimentfeed) October 25, 2024
That’s right. Institutional demand has taken off like crazy, now surpassing even retail demand. So, what does this mean? It means the big players believe Bitcoin has a ton of upward potential, and they’re backing that belief with their wallets.
𝗜𝗡𝗦𝗧𝗜𝗧𝗨𝗧𝗜𝗢𝗡𝗔𝗟 𝗜𝗡𝗩𝗘𝗦𝗧𝗢𝗥 𝗔𝗗𝗢𝗣𝗧𝗜𝗢𝗡 𝗢𝗙 𝗕𝗜𝗧𝗖𝗢𝗜𝗡 𝗜𝗦 𝗣𝗜𝗖𝗞𝗜𝗡𝗚 𝗨𝗣
$175 BILLION worth of #Bitcoin is now held by ETFs, various nations, and public and private companies.
— Dylan K (@MightyDylanK) May 4, 2024
Some analysts are saying this institutional activity might be exactly what Bitcoin needs to reach new all-time highs. The sheer volume of this demand could be the final push BTC needs to establish higher price levels.
And of course, no whale discussion would be complete without mentioning BlackRock. BlackRock is still adding to its Bitcoin holdings, so the confidence from these whales doesn’t seem to be slowing down anytime soon.
2) Ethereum (ETH)
Next up on our list is none other than Ethereum. And, just like with Bitcoin, Ethereum whales are wide awake. According to Santiment, a top crypto analytics platform, Ethereum’s whale activity recently spiked to a six-week high as its price dropped to around $2,380.
— Santiment (@santimentfeed) October 26, 2024
Now, for everyday traders, that price dip might look a little concerning, but to Ethereum whales? They see it as prime shopping time. Historically, these spikes in whale activity are signs of accumulation, a classic move by big players looking to build their holding.
Now, check this out – according to IntoTheBlock data, large Ethereum addresses saw a net inflow of over 598,000 ETH in just the past week. That’s around $1.6 billion at current prices. These aren’t just short-term buys, either. Analysis of these on-chain movements shows that whales prefer a long-term accumulation strategy, not just trading in and out.
Historically, when whales start accumulating like this, it often means one thing: they expect a big bullish wave up ahead.
ETHEREUM WHALES MAKING MOVES – NEXT PRICE SURGE?
Whale activity is heating up! A significant transfer of 10,000 ETH (approximately $24.9M) moved from Gemini to an unknown wallet, indicating bullish sentiment among major players.
Ethereum’s market cap is approaching its fully… pic.twitter.com/wnuHvTcszR
— IBC Group Official (@ibcgroupio) October 29, 2024
And here’s something even more exciting – while whales have been accumulating, we’ve seen a massive wave of new Ethereum wallets being created. Just in one day, over 6,400 wallets were opened, a level we haven’t seen since early September. What does that mean? Well, it’s a sign that interest in Ethereum isn’t just limited to whales; new investors are eyeing it too.
More About Ethereum
This could signal a growing belief that Ethereum has huge potential, not just in price but in its ecosystem and future role in crypto. So, what’s fueling this confidence among whales and institutional investors? Part of it comes down to the fast growth of Ethereum’s tech.
There’ll be one global backbone – Ethereum
Ethereum is the backbone of the new global financial system of L2s and L1 apps. No other chain will come close.
Mert suggested that Sol can pivot to being the backbone. But Solana will never be the backbone. Here’s 5 reasons why.
Four… pic.twitter.com/RoyEkASRP5
— Ryan Berckmans ryanb.eth (@ryanberckmans) October 26, 2024
Recent improvements in scalability solutions, like layer-2 rollups, are making Ethereum faster and more affordable. And with the ongoing expansion of DeFi, Ethereum’s role as the go-to smart contract platform is looking rock solid. Institutions are seeing these developments and betting big, recognizing Ethereum’s potential as a backbone for everything from finance to NFTs.
3) Solana (SOL)
Finally, let’s talk about Solana. Just like Bitcoin and Ethereum, Solana is drawing serious whale interest. SOL has seen major buying activity lately. Lookonchain reported three major whale addresses that recently withdrew large amounts of SOL.
Whales are accumulating $SOL!
AA21…VxH9 withdrew 153,511 $SOL($26.4M) from #Binance in the past 6 days and staked it.
EHax…gAUa withdrew 35,498 $SOL($6.12M) from #Binance and #Kraken in the past 3 days and staked it.
EGzi…mR7g withdrew 13,000.8 $SOL($2.3M) from #Binance… pic.twitter.com/pfd24qTuSy
— Lookonchain (@lookonchain) October 27, 2024
One wallet pulled out over 153,000 SOL, worth $26.4 million. Another wallet withdrew around 35,500 SOL, worth $6.12 million, while the third wallet withdrew 13,000 SOL, valued at $2.3 million. These guys are betting heavily on Solana. It’s not just the whales that are active on Solana. Solana has also recorded an impressive number of new users, especially in October.
BREAKING: Over 140 Million New Users Joined Solana in October
In October, the number of new wallets on the Solana reached an all-time high. 140 million new wallets were created in just one month, several times more than in all of 2022-2024!
Each new Solana user will also have… pic.twitter.com/gYqiF6CjkF
— Solanex (@solanex_ai) October 31, 2024
That’s not all. Daily active addresses reached 123 million – that’s the highest we’ve seen this year. With whale activity like this and more users joining the network every day, it’s clear there’s a lot of faith in Solana’s potential So that’s it. Whales are going hard after :
- Bitcoin.
- Ethereum and Solana.
Now’s the time to keep them on your radar.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
The post Crypto Whales are Buying BITCOIN & These 2 Altcoins appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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