Crypto Analyzer

Top Altcoins Witnessing Major Whale Accumulation

Cryptocurrency whales, known for holding significant amounts of digital assets, are showing strong interest in several altcoins according to analysis by Altcoin Buzz. Here are some of the key altcoins that major crypto whales are stacking:

XRP (Ripple)

XRP, the native cryptocurrency of Ripple, has recently seen a surge in accumulation by whale addresses. Whale addresses holding between 1 million and 10 million XRP have collectively purchased over 90 million tokens, amounting to approximately $48 million. This significant accumulation by whales often influences price action in the market, hinting at potential bullish trends ahead.

Moreover, retail investors are also increasingly participating in XRP, with a 28.8% rise in the number of addresses conducting transactions on the network in the past week. This growing optimism among investors could further drive price growth, with XRP currently trading at 54 cents.

Tellor (TRB)

Tellor, a decentralized Oracle Network, has witnessed a notable increase in whale activity with its market cap nearly doubling in early May, reaching $247 million by May 7th. Despite the potential for profit-taking, analysts remain bullish on TRB’s price trajectory. Technical patterns suggest a potential surge of over 35% back to over $261, with the formation of higher lows in price action.

Render, Singular, Fetch.ai (FET) and DeepBrain Chain (DBC)

Other altcoins like Render, Singular, Fetch.ai (FET), and DeepBrain Chain (DBC) have also experienced impressive gains. Render surged more than 50% in seven days, while AI-related coins like Singular, FET, and DBC gained between 17% and 23%, outperforming the broader crypto market. The correlation between developments in the AI sector and crypto market dynamics indicates growing investor enthusiasm.

As these altcoins attract whale accumulation and show strong price movements, it reflects a growing interest from both institutional and retail investors in the cryptocurrency space. The bullish trends observed in these altcoins suggest that the market may be gearing up for significant price surges and increased investor sentiment in the near future.