Let’s figure out which cryptocurrencies are being invested in now whales hoping for a profit in July
June is coming to an end, activity on the market is increasing in anticipation of the possible launch of spot markets. Ethereum-ETF in July, a whales are actively buying some cryptocurrencies. Lido (LDO), Aave (AAVE) and Toncoin (TON) stand out among such coins.
Read (LDO): whales replenish their stocks
Lido Finance is the largest player in the decentralized finance sector (DeFi). This platform allows retail customers to participate in staking by investing less than 32 ETH. A couple of months ago, the developers reported, that the protocol has become the largest on Ethereum. This is largely due to the advantages of liquid staking protocols. Unlike traditional stakingin which the assets remain locked, users receive Lido Staked ETH (stETH) tokens in return, which can be placed in other protocols. DeFi.
Over the past week, the altcoin has shown an upward trend. Whales are actively buying LDO, expecting the price to rise afterwards soon to launch spot ETFs on ETH, about which the markets are now actively speculating. Over the past week, the number of LDO whales holding between 1000000 and 100000000 tokens has increased by 2%. Now there are 114 people in this group of investors.
No later than June 15, their number fell to the minimum number of 111 addresses for the current year. However, they are fresh ETH-ETF news prompted these investors to increase their purchases of LDO over the past week.
Aave (AAVE): A jump in the volume of large transactions
GHOST a token management of the popular decentralized cryptocurrency lending platform Aave, recorded an increase in the volume of large transactions Over the past month, the daily number of transactions with AAVE between $10,000 and $100,000 has increased by 128%. Transactions between $100,000 and $1 million grew by 186% over the same period.
The increase in the volume of large transactions indicates the growing interest and activity of large holders. Often this reflects their confidence in the future potential of the asset.
At the time of writing, AAVE is holding above its 20-day exponential moving average. This line represents the average price over the last 20 trading days. If the value of the asset exceeds it, it is considered a bullish signal and promises an increase in buying activity.
Toncoin (TON): Whale activity intensifies
Toncoin cryptocurrency, connected with the popular messenger “Telegram”, has grown by almost 20% in the last 30 days. The altcoin hit an all-time high of $8.24 on June 15, but was trading around $7.59 at the time of writing.
Holders of the coin anticipate its further growth, and whales TON is actively building up its reserves. Onchain analysis shows that the number of TON investors holding between 10 million and 100 million tokens has increased by 12% in the past 30 days.
This category of hodlers is now represented by 7,319 addresses, which is a record number since the token was launched.