Amid the escalation of geopolitical tensions in the Middle East, the crypto market experienced a sharp surge in volatility this week. Let's take a look at what whales were buying during this time.
This week, whales turned their attention to Ethereum, Bitcoin Cash, and Dogecoin. These three coins attracted significant investments from major players due to their growth potential.
Whales and Ethereum
This week, the top altcoin ETH showed weak price dynamics. However, it became one of the assets that whales actively acquired amid the market volatility.
This is confirmed by the increase in net inflow in the segment of large holders. The metric measures the difference between the number of tokens that whales buy and sell over a given period. Its growth indicates active accumulation, reflecting increasing confidence or bullish sentiment among investors.
In the case of ETH, the net inflow of large holders has increased by more than 7,000% over the past seven days, according to data from IntoTheBlock. If this trend continues, the token could enter a new phase of rally and break above the $2,500 area.
Bitcoin Cash (BCH)
BCH is another asset that whales have actively purchased amid geopolitical instability in the Middle East. According to Santiment, the number of coins in wallets with a balance of 1,000 to 10,000 BCH is increasing. Over the reporting week, this group of holders acquired 40,000 tokens, worth over $19 million at current prices.
The altcoin is currently trading at $485.76, having strengthened by 5% in the last day due to bullish sentiment and growing optimism in the crypto market.
Dogecoin
The leading meme coin DOGE also attracted the attention of major players this week. On-chain data from Santiment shows that whales holding between 100 million and 1 billion DOGE are actively accumulating coins. Over the past week, this group has purchased 140 million DOGE worth over $24 million.
Such a surge in purchases signals a possible rise in DOGE in the near future. If the momentum strengthens, this could lead to a recovery or even a breakout from current price levels.
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