2 November 2024
Whales Are Accumulating these Three Crypto Assets – Santiment
According to insights firm Santiment, Smart money Crypto whales are gobbling up three digital assets while selling three others.
Reportedly, whales have bought over 41% more CRO in the last two months. CRO is the Cryptocurrency that powers the Crypto.com platform. Here, Sentiment is referring to whales that are holding between 100,000 to 10 million CRO tokens.
Sentiment also revealed that whales are scooping up UMA, a platform that enables developers to build synthetic assets or Ethereum-based tokens that track prices of digital assets.
"Uma has plummeted -53% since its major local top six week ago, yet the key large stakeholders for the ETH-based project have continued to add more to their bags. When a price drop like this occurs, but large holders have actually ADDED +2.3% more coins to their bags, it’s a promising sign that it can pump when markets begin to turn positive"
Another altcoin that whales are eager on is decentralized Crypto exchange Uniswap (UNI). As per Sentiment report, despite UNI’s weak price action entities holding 10,000 and one million UNI coins continue to add to their stack.
“Uniswap is one of the key DeFi (decentralized finance) projects that really saw a great surge in the early half of 2021, but fell off in the latter one. In spite of the correction, large addresses have only been adding more and more to their bags, with +4.1% more held in December alone.”
Whereas, the three altcoins whales are avoiding are lending and protocol Aave (AAVE), derivatives liquidity protocol Synthetix (SNX), and prediction markets platform Augur (REP).
Report also detailed that, since September whales have shed 18.5% of their SNX tokens and 5% of their REP coins. Whereas for Aave, whales have shaved over 4.32% of their holdings.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.
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