The cryptocurrency market continues to maintain its price metrics for a possible altcoin season. However, ETH, ADA, and DOT are emerging as potential altcoins that could drive the portfolio of whale-level investors.
Whales play big on these altcoin projects
Ethereum is a cryptocurrency that Bitcoin or any altcoin whale cannot ignore. Due to its preponderance of utility, its dominance on the civil service front, despite limitations, quickly became widespread. However, most of the restrictions will be lifted with the merger with ETH 2.0. Also, Twitter has added an Ethereum wallet to the tip jar, which is a great improvement for the community.
In terms of numbers, Ethereum’s daily on-chain net currency flow is currently over $76.5 million. Also, ETH currency balances hit a three-month high of 14,646,625,967 ETH. The median trading volume (7D-MA) dropped to 0.091 ETH, a one-month low. Also, the average price paid (7D-MA) dropped to a 5-month low of $19.73. On the other hand, the number of ETH withdrawals on exchanges (7D-MA) dropped to an all-time low of 865,125, a 20-month low. The average gas price for (7D-MA) has dropped to a one-month low of 78,994 Gwei. The expanding pools in ETH 2.0 deposit contracts are largely driven by whales.
Cardano (ADA)
With its solid foundations, solid developments, PoS mechanism, level of decentralization and eco-friendly initiatives, Cardano (ADA) is an ideal bag not only for BTC whales but also for other big whales . Based on on-chain metrics, ADA looks stronger than BTC and ETH. Higher 24-hour trading volumes, along with adjusted trading volumes and lower fees.
The actual market cap is currently at $36.11 billion and is in a gradual downward movement from the peaks. Active addresses are at 3,416.249, and the 24-hour number is at 219,514. Consecutively, the number of addresses with balances over $10 million is 495, while the number of addresses with over $1 million is 3690. The number of addresses with balances over $100,000 is 27,886.
Polkadot (DOT)
Polkadot has attracted the attention of individuals and the masses, including whales, with its parachain auctions. In addition, the success of the projects that received slots convinced more projects, so the fierce competition showed itself. In addition, energy efficient and eco-friendly features, as well as Web 3.0, increase the importance of Polkadot.
According to on-chain sources, Polkadot’s 24-hour active supply is 134,813,847.37, 24-hour active address is 24,205. The number of addresses with balances over $10 million is 29. Figures show that balances above $1 million are pooled in 1,132 wallets, while 4,064 addresses have balances above $100,000. This shows that individual investors are dominant.
Conclusion
The above cryptos are ideal altcoin projects for purse and hodl for individual and whales. Larger investors holding ETH, ADA and DOT are finally convincing more individual investors and institutions to follow. With an altcoin season approaching on the horizon, these cryptocurrencies are poised to soar higher.
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