By Nermeen Nabil Khear 
Is the bull run over? After yesterday’s crash, the crypto market tanked a bit more today, too. However, I have good news for you. The bull run is NOT over yet. Although Bitcoin lost the $100k threshold, we’re still fully on track to hit the next leg up of this bull run.
Bitcoin could drop a lot more, before we break support levels that indicate that this bull run is over. That is around the $79-$80k range. So, an old saying is that when blood is in the streets, you need to buy. This is the moment when future millionaires are made. So, today, I will follow the smart money. What altcoins are whales buying?
Chainlink ($LINK)
The market has been crashing hard. Bitcoin saw a 10% drop. It’s best not to look at your portfolio right now, since it feels like this. Despite this, smart money, like whales, are on shopping sprees for altcoins.
One new outlet that’s making waves is Trump’s World Liberty Financial, or WLFI. It’s his DeFi protocol. It has been buying 6 altcoins since 30th November. One of them is Chainlink ($LINK). WLFI bought for $2 million $LINK at a $25.21 average price.
This caused quite a few whales to also dip into $LINK. Most of the market is down, so a lot of strong coins are also dipping. This includes $LINK.
However, look at what this whale did. He sold 120,814 $LINK for 3.019 million $USDT. He just bought back 134,433 $LINK. And this is not his only $LINK trade. It was his third. So, from his first two trades, he had a 71.4% profit. That translates to $3.29 million. Not bad for a day’s work at the office.
What a successful $LINK sell-high, buy-low round!
Yesterday, whale 0xd51 “pleven.eth” sold 120,814 $LINK for 3.019M $USDT and, just 6 hours ago, used the proceeds to buy back 134,433 $LINK right at the bottom of the dip.
Currently, this whale is on its third $LINK trade. From… pic.twitter.com/iwWURBwpqv
— Spot On Chain (@spotonchain) December 20, 2024
Another whale recently withdrew 594,998 $LINK from Binance, worth $17.31M. Nonetheless, the current $LINK dropped by 7.6% for the day. The current $LINK price is $22.94. That’s 21.5% down over the last 7 days. Still, as you can see, whales stay confident.
Ethena ($ENA)
So, the next of today’s altcoins that piques the whales’ interest is Ethena ($ENA). That’s despite Bitcoin’s dump to below the $100k threshold. Bitcoin actually dropped to $97k. See the picture below.
That’s exactly what our Altcoin Alpha group predicted. If you want to be in on the forefront of such great market research, you can sign up for our Altcoin Alpha group. Here’s the link.
So, back to Ethena and WLFI. I mentioned already that WLFI bought 6 altcoins. Besides $LINK, WLFI also bought $ENA. WLFI already bought crypto assets worth $47.5 million. This includes a $750K allocation worth of $ENA, bought at $1.011.
After announcing a partnership with @ethena_labs, Donald Trump’s World Liberty Financial (@worldlibertyfi) spent 250K $USDC to buy another 231,726 $ENA 20 minutes ago!
Since November 30, World Liberty Financial has spent $45M to buy 6 crypto assets, including:
• 8,105 $ETH… https://t.co/qD12WmjT7X pic.twitter.com/PrFmUH4KLH
— Spot On Chain (@spotonchain) December 18, 2024
On 18th December, WLFI and Ethena Labs announced a partnership. This integrates Ethena’s $sUSDe token with World Liberty’s platform. To clarify, Aave backs the WLFI platform. That’s a DeFi giant in cahoots with WLFI.
Excited to announce the collaboration between World Liberty Financial (WLFI) and Ethena Labs!
First step: exploring sUSDe integration into WLFI’s lending platform, bringing new opportunities for DeFi users worldwide.https://t.co/HvGDHcJTXW
— WLFI (@worldlibertyfi) December 18, 2024
Ethena is a synthetic dollar protocol on Ethereum. That synthetic dollar is $USDe. The $sUSDe is a staked version of $USDe. By depositing $USDe, you can earn rewards in $sUSDe and $WLF.
Over the past 3 days, we saw a newly created wallet withdraw 13.65M $ENA. 8A That was worth $13.42 million. Whales also bought over 36.55 million worth of $ENA. However, the current $ENA price dropped 23% and is down to 87 cents.
During the recent price dip, whales bought over 36.55 million #Ethena $ENA! pic.twitter.com/U410ClRCbW
— Ali (@ali_charts) December 18, 2024
Here’s also a new stablecoin platform, Usual, that launched yesterday. This is a decentralized fiat-backed stablecoin issuer. It’s also a direct competitor of Ethena, and its $USUAL token pumped 24% over the last 2 days. The current $USUAL price is $1.42.
Both projects are worth keeping an eye out for.
Bitcoin ($BTC)
No surprise here, but whales are buying Bitcoin at these levels, too. In the recent market dip, whales bought more than $1 billion worth. Is it due to rumors of a Strategic Bitcoin Reserve in the US or elsewhere?
Whales bought over $1 billion worth of #Bitcoin $BTC during the recent market dip! pic.twitter.com/dfYl8QC41Z
— Ali (@ali_charts) December 19, 2024
Or is it the demand from ETFs who bought $6.7 billion in the last 15 days, including this dip?
What about El Salvador continuing to stack its reserve as an example for other countries, including buying some with the IMF’s money?
El Salvador just bought 11 Bitcoin
The country just received a $1.4 billion dollar loan from the IMF and today they bought $1M in Bitcoin.
LETS FUCKING GO. @nayibbukele
pic.twitter.com/WddEAXs6hw
— The ₿itcoin Therapist (@TheBTCTherapist) December 20, 2024
Or is it the supply crunch many people see coming when miners are only releasing 450 new BTC per day?
Or maybe it’s all of these things in the context of a bull market that starts in Bitcoin and then extends into alt season. Funds are flowing into Bitcoin.
Those who know see that we are in an active bull market now. And this temporary drop in price is just buying the best at a discount. That goes for Bitcoin and the other coins on our list today.
Cardano ($ADA)
Cardano (ADA) is the last stop for whales. Keep an eye out for my new video on Cardano, how many $ADA it takes to become a millionaire. That will go live tomorrow.
So, whales have been very active with buying Cardano, or rather, the $ADA token. On 17th December, there was whale activity to the tune of $1 million USD. That took 687 transactions, so an average of $1,455 per transaction.
A massive surge in whale activity on the #Cardano $ADA network! In the past 24 hours, 687 transactions exceeding $1 million were recorded. pic.twitter.com/p8vzuLaFVP
— Ali (@ali_charts) December 16, 2024
Other whales are repeating what I showed you with the $LINK whale. The $ADA whales took profit on the way up. They exited between $1.15 and $1.33. However, the current $ADA price is 84 cents, and they’re buying back in. On 18th December, when $ADA dropped to 91 cents, they bought 160 million $ADA.
#Cardano whales took profits on the way up from $1.15 to $1.33, but after $ADA dropped to $0.91, they started buying again.
In fact, they’ve bought 160 million $ADA since the dip! pic.twitter.com/13RlCnMpIO
— Ali (@ali_charts) December 17, 2024
So, it’s not all doom and gloom. Here’s something else to cheer you up. Hong Kong approved four more Bitcoin and crypto exchanges. The Chinese are coming, and this should be a massive boost. Also for altcoins. At least, as long as Xi allows money to flow to Hong Kong.
But here we are. I checked out what whales are buying. So, tell me, what are you buying now?
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 accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from 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.
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The post The Crypto DIP Is Here | Best Altcoins To Buy Now appeared first on Altcoin Buzz.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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