In recent days, the flagship cryptocurrency Bitcoin’s value increase has reignited hope in the crypto market. Investors believe this unexpected rise is due to former US President Donald Trump’s participation in the Bitcoin 2024 conference in Nashville. This change in Trump’s stance on cryptocurrencies has led to more than a 1% increase in Bitcoin’s price. So, what is the real reason behind this rise?
Trump’s Participation Could Create Opportunities for These Altcoins
Besides Bitcoin, there is significant activity in the crypto world. During this period, crypto whales are quietly accumulating various altcoins. This indicates that whales see great potential in these altcoins. One of the most notable altcoins on the whales’ radar is Arbitrum.
Currently trading at $0.72, Arbitrum has seen an 87% increase in whale inflow over the past week despite its value loss since the beginning of the year. Serving as a Layer-2 scaling solution for Ethereum, Arbitrum aims to increase transaction speeds and reduce costs. The growing interest from whales highlights Arbitrum’s potential for wider adoption in the future.
XRP and Cardano (ADA)
XRP is trading at $0.59, and since July 23, there has been an increase in addresses holding between 100 million and 1 billion tokens. The growing interest from these large holders indicates that XRP has become an attractive option for major investors, benefiting from its legal victories and positive market sentiment.
At $0.41, Cardano experienced an extraordinary increase in large holder inflows, rising by 10,878% in a single day. Cardano’s recent upgrades and ongoing development have built significant confidence among whales. ADA’s recovery potential is also positively received by the market.
Chainlink: A Strong Player in the DeFi Ecosystem
Chainlink is trading at $13.55 and has integrated with TrueFi on the Ethereum and Arbitrum Blockchain platforms through the Cross-Chain Interoperability Protocol (CCIP).
This integration is making the cryptocurrency Chainlink a popular choice among crypto whales by enabling broader adoption. It is worth keeping an eye on these 4 altcoins ahead of Donald Trump’s speech.
