Crypto Whales’ Top Altcoin Picks For The Fourth Week of July 2024
The post Crypto Whales’ Top Altcoin Picks For The Fourth Week of July 2024 appeared first on Coinpedia Fintech News
While we watch the crypto market momentum shift to bullish, whales have been acquiring Arbitrum, XRP, and Ondo. There is a significant purchase volume that, if continued could make these cryptos strand ahead in the anticipated altcoin season.
Whales Pick Arbitrum Despite In Downturn
This comes as a shock that Arbitrum is on the list of Whales’ favorite coins. It could be the impact of Ethereum ETF, Arbitrum being the layer 2 blockchain of Ethereum.
At the time of writing ARB price is $0.7204 with 24hr growth of 3.18%. Although, this is just a fling, as the ARB performance to YTD is down nearly 58%.
The ARB coins collective forecasts do not represent a good run, but whales have shown huge interest in this altcoin, The data from IntoTheBlock reveals an increase of 870% in the last 7 days in the large holders’ netflow.
This metric show range shows the difference between large holders’ inflow and outflow. A result in the positive range says that inflow is higher than outflow. This also means that investors are not selling the asset and accumulation has increased.
This comes as a surprise how Arbitrum at this condition comes on this radar, the ETH ETF must have been triggering the idea of investing in Ethereum blockchain-related projects.
Ripple Is challenging all the odds
Ripple, XRP’s performance in the last few weeks has been impressive, the asset is up by 25.4% in the last 30 Days and 7% in the last 7 days.
A recent report by Santiment, reveals that the number of addresses holding XRP between 100 million and 1 billion tokens increased since 13 July, the price also reflected upward from the same day.
The increase in whales’ confidence has made XRP outperform BTC and ETH in the recent session and the XRP price today was pushed back to $0.60 again.
If the acquisition continues, The SEC doesn’t dig any more hurdles and market conditions favor the asset will see new highs in the next sessions.
ONDO hits $1 As Whales Repeat Accumulation
Nearly 2 months ago ONDO registered its All-time high at $1.42, but the trend was resisted to create lower lows to drop 32%. The whales seem to find this as an opportunity to buy the dip.
Over the past month, the asset has experienced increased institutional interactions and accumulation.
According to the data from IntoTheBlock, there was seen growth of 1468% in the large holders’ flow of ONDO in the last seven days.
It revealed that the addresses with holdings of 0.1% to 1% of total circulating have added more to their wallets.
If this activity is appreciated further, the ONDO price can be seen breaching its ultimate resistance at $1.42.
