While the cryptocurrency market is heading for historical bottoms, there has been an increase in the activity of whales in some altcoins. Cryptocurrency whales collect from SHIB and 2 major altcoin projects.
Whales increase stock in these altcoin projects
In July, crypto whales were observed in activity in altcoins, notably Shiba Inu (SHIB), Polygon (MATIC), and AAVE. In July, SHIB, MATIC and AAVE values gained approximately 12 percent, 19 percent and 18 percent, respectively. Meanwhile, Bitcoin (BTC) failed to show any significant changes. The total market capitalization is around 917 billion dollars, below 1 trillion dollars.
SHIB, MATIC and AAVE, the most traded altcoins
Shiba Inu, Polygon, and AAVE are rising as of July 1, according to WhaleStats. The biggest Ethereum whales have also increased their holdings for Uniswap and The Graph over the past 24 hours. The top 5,000 whales also bought the most Shiba, Polygon and AAVE in the previous week. He owns Shiba Inu worth about $614 million of the whales. As you follow on Kriptokoin.com, Shiba Inu lead developer Shytoshi Kusama announced the launch of the SHI stablecoin and TREAT reward token. The TREAT token will also be used to generate rewards for the Shiba Collectible Card Game and Metaverse.
SHIB is up over 5% over the last 24 hours and is currently at $0.0000107.
This week, Polygon announced important news about NFTs
For example, Sandbox expanded Polygon’s LAND distribution. Additionally, Polygon has partnered with phone maker Nothing to bring Web3 technology to mobile users. However, Robinhood has just expanded its support for MATIC deposits and withdrawals. Additionally, Reddit and Polygon have launched a platform for NFT-based avatars. Due to these recent events, the price has reached above $0.55 as a result of today’s 6% price increase.
The price of AAVE has increased significantly this week due to the appetite of whales. “BlueWhale0079”, an ETH whale, bought 24,999 AAVE today. Additionally, it has been the most traded altcoin by the top 100 ETH whales in the past 24 hours. At the time of writing, the AAVE price is trading at $70, up about 35 percent.
How long will the altcoin price rally last?
Recent announcements regarding SHIB, AAVE, and MATIC indicate that the tokens may increase further as a result of the significant transaction volume seen in recent days. Whale savings are also a strong indicator of an impending market volatility. Additionally, the recent expansion of the entire cryptocurrency market could support a surge in these tokens.
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