The post Top 10 Cryptos Set to Surge as Whale Activity Spikes Across Key Crypto Projects appeared first on Coinpedia Fintech News
Santiment, a blockchain intelligence platform, highlighted notable increases in whale transactions for several prominent cryptocurrencies over the past week. This rise in large-scale trades could mean major price changes are coming, which has investors curious. From Cronos (CRO) to Arbitrum (ARB), these altcoins are drawing more whale interest than last week, suggesting that prices may shift soon.
Major Projects Seeing Whale Activity Surges
The following projects have shown significant week-over-week growth in whale activity, indicating potential upcoming price shifts:
Keep an eye on the following crypto projects seeing major boosts in whale transactions in the past week (compared to their whale activity the prior week):
1) @cronos_chain $CRO +255%
— Santiment (@santimentfeed) October 7, 2024
Cronos (CRO): Leading the list, the CRO on Cronos Chain has witnessed a staggering 255% increase in whale transactions. This level of whale attention could reflect renewed confidence or strategic buying, potentially setting the stage for price action.
Aave (AAVE) on Optimism: Whale transactions for AAVE, a prominent decentralized finance (DeFi) lending platform, surged by 100% on the Optimism network. Increased whale interest here could signal optimism around Aave’s expansion or the utility of the Optimism network.
Ethena Labs (USDe): With an 82% rise in whale activity, USDe transactions have picked up, hinting that large investors see promise in this stablecoin on the Ethena Labs platform.
MakerDAO (DAI): Whale transactions involving $DAI rose by 75%, underscoring MakerDAO’s steady importance within DeFi and a possible shift in liquidity inflows as whales accumulate this stablecoin.
Circle’s (USDC): USDC on Polygon saw a 57% increase in whale activity, a strong signal of growing traction for stablecoin transactions on Polygon’s scalable network.
Wrapped Ether (WETH): WETH transactions spiked by 53%, showing heightened activity in the Ethereum ecosystem as wrapped assets see increased whale participation.
Aave (AAVE) on Polygon: In addition to Optimism, AAVE on Polygon also saw a 50% boost in whale transactions, indicating broad interest in Aave across multiple networks.
Toncoin (TON): TON has attracted 50% more whale activity, potentially positioning it as an upcoming altcoin of interest.
Immutable (IMX): The gaming-focused token IMX experienced a 36% rise in whale transactions, reflecting growing appeal in the blockchain gaming sector.
Arbitrum (ARB): Rounding out the list, ARB saw a 25% rise in whale activity, suggesting a renewed focus on this Layer-2 scaling solution.
Why Tracking Whales Matters?
According to Santiment, closely following whale activity in the altcoin market can guide traders toward profit opportunities. Tokens that experience increased whale activity after price declines may be set for price bounces, presenting potential buy-in points.
As always, while these signals are valuable, investors should conduct thorough research and consider market conditions before making decisions based on whale activity.
