Crypto whales are a group of investors closely watched by their experiences and capital size in this field. Blockchain is perfect in every aspect, but the traceability of on-chain data provides great equal opportunities for investors. This way, you can track which cryptocurrencies whales are accumulating or selling. So, what do the current data indicate about altcoins?
Ripple (XRP) Whale Movements
On-chain data shows that XRP coin whales are moving again. The purchase of 80 million XRP coins in the last 10 days pushed the price above $0.6. Whale buying activity increased with the dismissal of the lawsuit filed against its top executives on October 19. Whales, who made approximately $48 million worth of purchases, reiterated their belief in the rise. Even multi-million dollar purchases in low-volume prices are significant.
Decentraland (MANA)
It was almost forgotten during the long bear markets. Decentraland (MANA) was among the popular cryptocurrencies during the peak of the metaverse excitement. The fluctuations experienced by leading GameFi projects such as Sandbox (SAND) and Enjin Coin (ENJ) also affected it. Fortunately, recovery is beginning in the GameFi field.
Yesterday, MANA coin whales had one of their most active days. Whale transactions have not been as intense since June 5. If this trend continues, those who bought MANA at the lowest level in September may have the opportunity to sell at higher levels.
Injective (INJ)
INJ coin undoubtedly has a prominent place among the most profitable cryptocurrencies of this year. It reached $12, its 20-month high, on October 23, far from its single-digit price at the beginning of the year. Santiment data shows how INJ attracted whale interest in the 16 days leading up to October 18.
If whales can keep the price above $14.2, hopes for the long-discussed $20 peak may increase. The increasing interest of whales is the strongest indicator of potential price increases. Crypto whales shape their predictions by monitoring many dynamics and determine their strategies accordingly. And of course, whales can be wrong too. For now, the November performance of BTC will determine whether they are right or wrong. If the king of cryptocurrencies can stay above $34,500, demand for altcoins may remain alive, and price increases may continue.
