Altcoins
3 Altcoins Whales Buy to Make Millions
Whale accumulation is one of the important indicators to predict the direction of the market in the coming days. During the Solana coin frenzy, whales turned investments worth thousands into millions in a matter of days or weeks. Here are the 3 altcoins whales are buying now.
3 Altcoins Whales Are Bullish
After a warmer period than expected CPI With a 3.5% release, whales sold most of their holdings in Solana, Ethereum and Bitcoin. According to whale trades observed by CoinGape, the smart money is still holding their investments or buying altcoins.
1. Pendle
Pendle (PENDLE) is seeing renewed investor interest, defying a market sell-off. On-chain analytics platforms reveal a significant increase in PENDLE whale accumulation, with growing interest and investments in the cryptocurrency.
Lookonchain and the Spot On channel reported that whales withdrew and deposited substantial amounts of PENDLE tokens worth millions of dollars. In particular, the wallet addresses 0xe675 and 0xAa4c has withdrawn significant amounts of PENDLE tokens from Binance, totaling millions of dollars over the past few days.
Meanwhile, 0xe675 withdrew 295,443 PENDLE, worth about $1.95 million, and 0xAa4c withdrew 115,500 cryptocurrencies, worth about $764,000 today.
The price of PENDLE increased by more than 27% in one week and more than 115% in one month. A further rally is expected as Pendle Finance has now raked in huge fees and revenues, with increased volume and liquidity injecting new vitality into the project.
2. Creator (MKR)
Maker (MKR), the governance token of MakerDAO and Maker Protocol, has received significant attention not only from whales, but also from institutional investors.
MakerDAO, the decentralized autonomous organization behind the DAI stablecoin, has approved increasing the debt ceiling to $1 billion for Ethena’s USDe synthetic dollar. MakerDAO has strengthened its collaboration with Ethena and offers additional returns to its users.
On-chain platforms reported that 13 new wallets withdrew 13,560 MKR worth $47.8 million from Binance in a week. Of these, $30.8 million was withdrawn in the last 12 hours. Additionally, three other wallets have made test withdrawals of 0.0055 MKR and will withdraw more tokens soon.
MKR price fell 2% in the last 24 hours amid a broader market sell-off, with the price currently trading at $3,411. The price increased by 32% in one month, with an annual increase of 400%.
3. Fren Pet (FP)
Fren Pet is a Tamagotchi-like crypto mobile game built on Base. The FP price of Fren Pet’s native token has increased by 45% in the last 24 hours, by 90% in a week, and by over 800% in a month.
Nansen reported massive purchases of FP tokens by whales. One of FP’s top buyers has been buying aggressively over the past 2 days, with returns exceeding 30% at the time of writing, and his total holdings worth over $450,000.
Crypto trader Ansem purchased $32,000 worth of FP tokens after massive hype surrounding Fren Pet. Some whales who have been holding the tokens for weeks now have purchased FP again in the last 24 hours.
FP price is currently trading at $13.14, with a 24-hour low of $8.68 and a 24-hour high of $16.38. Trading volume jumped 800% in the last 24 hours.