Two altcoin projects that have just been spotted are posting significant daily volume gains as investors rush to buy at the bottom.
Bottom hunters put these two altcoin projects in motion
Stellar Lumens (XLM) and IOTA (MIOTA) are displaying strong investor confidence amid adverse market conditions. Blockchain-based payment network Stellar (XLM) has found new buyers at the bottom price after a long decline. Its price rose around 5% at one point on November 29, touching $1.64.
Similarly, IOTA is also experiencing an uptrend. The altcoin project designed for the Internet of Things (IoT) gained around 2% at one point yesterday. At the time of writing, it is trading in the $0.21 region. The price increase of both projects was due to positive news from their ecosystems.
For example, two fully regulated stablecoins were introduced to the Stellar ecosystem recently, alongside the announcement of several key partnerships and project launches, including GetPaid. On the IOTA side, Shimmer Network has been released, a launchpad that will include zero-fee asset tokenization for upgrades. The network also announced that the DLT network is developing IOTA 2.0 to address ongoing issues with congestion control, tokens, and consensus. New development activities have also offered crypto investors the opportunity to buy.
Investors aren’t just accumulating CLM and IOTA
Meanwhile, traders who buy the dips don’t just support XLM and IOTA in an uptrend. Despite the extreme volatility, investors continue to buy Bitcoin (BTC). In their new analysis, Glassnode reports that two key investor groups are collecting BTC in an unusual way. These were investors holding 1 to 10 BTC. Also, retail investors holding less than 1 BTC continue to buy.
#Bitcoin Crabs (up to 10 $BTC) have also seen aggressive balance increase of 191.6k $BTC over the last 30-days.
This is a convincing all-time-high, eclipsing the July 2022 peak of 126k $BTC/month. pic.twitter.com/osjHovLRoV
— glassnode (@glassnode) November 28, 2022
Since the collapse of FTX, the whales’ wallets have increased by 96.2K BTC to reach ATH. This group of investors currently holds 1.21 million BTC in total. This corresponds to 6.3% of the total circulating BTC supply. According to Glassnode, the whales have also experienced a horrendous balance increase of 191.6k BTC over the past 30 days. Thus, they set a new record, which exceeded the peak in July of 126 thousand BTC per month. As you follow on Kriptokoin.com, analysts are undecided in determining their direction in this environment.
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