Investigating the Cryptocurrency Investment Strategies of Major Traders in May 2024
Tuesday, 30 April 2024, 07:37
What Crypto Whales Are Buying for Profits in May 2024
Bitcoin’s (BTC) price has been making mild moves despite the halving that occurred towards the end of April. Thus, institutional investors have moved to accumulate altcoins in the meanwhile to capitalize on the potential bull run that the crypto market could witness once BTC rises.
Crypto whales are attempting to maximize their profits by adding certain altcoins to their wallets as the Bitcoin halving failed to induce a rally in BTC price. BeInCrypto has analyzed three tokens that have been noted to be of the most interest to these large wallet holders.
- Cardano (ADA) Whales Add More ADA to Their Holdings: Cardano has been noting increasing accumulation at the hands of the whales since November 2023. While this has not translated to a bullish outcome for price action, Cardano’s price could certainly benefit from the increased interest from whales.
- Toncoin (TON) Joins the Top Crypto Assets: Toncoin recently entered the top ten list and surpassed competitors, with whales accumulating TON in anticipation of potential rallies and an IPO announcement by Telegram.
- Arbitrum (ARB) Whales Aim at Profits: Despite price corrections, whales have been loading up on ARB possibly to buffer against further declines and capitalize on the upcoming token unlock event.
Discover the strategies employed by crypto whales in securing profits while navigating the volatile cryptocurrency market landscape.
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