Whales have shown interest in Dogecoin (DOGE) and these 2 altcoins in the last few days as a large part of these tokens have been bought.
Whales collect MATIC, ADA and DOGE
MATIC’s massive transactions happen on the blockchain. According to a Whale alert report on Thursday, 38,000,000 MATIC trades worth more than $50,000,000 were made from an unknown wallet to an anonymous wallet today. Ignoring the downward trend in the market among major crypto assets, MATIC added over $1.5 billion to its market capitalization during this period, making a 9% profit in a week. So far, MATIC is up about 3% in the last 24 hours, hitting $1.34 over the same period.
MATIC is not the only digital asset to enjoy the blessing of whales. Cardano’s native token ADA is also on the savings list. WhaleStats reported earlier today that ADA is the most traded token among the top 100 Binance Smart Chain (BSC) whales. The crypto asset is one of the most used smart contracts for the top 1000 BSC whales.
Cardano’s large transactions hit 12-week highs in the first months of 2023, with transactions frequently over $100,000, according to a report released Wednesday by on-chain analytics firm Santiment. While its ecosystem has continued to grow in recent months, ADA has also skyrocketed since the start of the year.
ADA has gone from the $0.25 price range seen late last year to as high as $0.38 at the time of this writing. The asset still ranks 8th with a global market dominance of 1.2% and a market cap of $13.4 billion. ADA is currently trading above $0.35, down 2% in the last 24 hours and 87% down from its all-time high of $3.09 in September 2021, according to data from Kriptokoin.com.
Dogecoin competes with other altcoins
While MATIC and ADA are thriving, Dogecoin (DOGE) seems to be giving both assets value for their money. According to WhaleStats, DOGE flipped ADA for the most traded token among the top 100 BSC whales in the past 24 hours.
Regarding the position, DOGE moved up to the 9th place as the largest cryptocurrency by market cap. DOGE trades at $12.09 billion versus Polygon’s lower market cap of $11.6 billion.
Compared to Cardano, DOGE has a hard time eclipsing ADA because DOGE ranks lower than ADA and ranks 8th in the largest cryptocurrency by market cap. ADA’s market cap is valued at $13.4 billion.
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