August saw a general decline in the market, which led to many cryptocurrencies falling. Focusing on taking advantage of the current conditions, whales appear to have begun accumulating certain altcoins in anticipation of potential gains in the coming month. Among the cryptocurrencies that whales are interested in: Toncoin (TON), Uniswap (UNI) and Lido (LDO) is located.
Toncoin (TON) Savings
The value of Toncoin (TON) is as high as the Telegram CEO Paul Durov’s has fallen by 21% since August 24, following his arrest. IntoTheBlock According to data provided by TON whales have attracted all the attention with a 307% increase in net flow of their large holders. The whales appear to have taken advantage of this price drop to increase their wealth. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
When there is an increase in this metric, whales are seen to be buying more coins than selling. This bullish outlook generally encourages individual investors to buy. Continuing accumulation on the whale side could create greater demand for the altcoin and potentially lead to a price increase.
Uniswap (UNI) Comments
As of last month Uniswap’s Its native token, UNI, has seen a 27% drop, with the altcoin currently finding buyers at $5.67. Despite the decline, the drop may have presented a potential buying opportunity, as indicated by its negative market value to realized value (MVRV) ratio.
If an asset’s MVRV ratio remains below zero, it can be interpreted as the asset being undervalued. This means that its current price is lower than the average price of all its tokens in circulation, and can also be considered a potential opportunity for investors looking to “buy the dip,” which is entirely up to investor behavior. On the UNI side, whales who thought the value was undervalued appeared to have accelerated their token accumulation, according to indicators.
According to data provided by Santiment, the number of UNI whales holding between 1,000 and 1 million UNI tokens appeared to have increased by 1% in the past month. As of today, the group includes 5,595 addresses, marking the highest level since January 10.
Lido (LDO) View
Leading decentralized finance (DeFi) protocol To Lido The power token LDO also appeared to be on the whales’ radar in recent days. According to data provided by Santiment, whales holding between 100,000 and 1,000,000 LDO tokens currently hold 9% of the altcoin’s total circulating supply, as reflected in the charts.
Santiment’s data showed that the number of addresses holding between 100,000 and 1,000,000 LDO tokens increased by 4% last month, indicating that more large investors are accumulating LDO and their confidence in the token is growing.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
