US Election and Whale Activity Fuel Altcoin Surge: LINK, RENDER, ZRO

• The upcoming U.S. election will be bullish for the crypto market.
• Depending on who wins, crypto will thrive within or outside the U.S.
• Whales are accumulating LINK, RENDER, and ZRO tokens.

Crypto analysts predict the upcoming United States elections will have a bullish effect on the crypto market, regardless of the winner. Analysts suggest, however, that a Donald Trump victory would trigger a bullish Bitcoin market in the U.S., while a Kamala Harris win would boost crypto markets in other parts of the world.

In a recent podcast, a crypto analyst from the Altcoin Buzz YouTube channel explained that many crypto practitioners believe a Trump administration would be more receptive to crypto practices. However, they think a Harris-led government would likely follow the current administration’s path. Therefore, the projected outcomes hinge on who wins the November election.

Chainlink (LINK) Shows Bullish Signs

The analyst identified a few altcoins showing early signs of a bull run, including Chainlink (LINK), the decentralized Oracle network. According to the analyst, LINK broke out recently, primarily due to significant whale accumulation. He cited a Santiment report which found that LINK whales accumulated over 8.5 million LINK in the past six weeks.

LINK reversed its downward trend after falling below $10 on September 6 and has gained about 38%, according to TradingView data. The Altcoin Buzz analyst stated that LINK’s recent rally coincides with increased on-chain activity, making Chainlink a focal point for investors seeking long-term growth.

Read also: Crypto Whales Fund U.S. Elections; Bitcoin Set for Bull Run, Altcoins Rally

Render (RENDER) and Layer Zero (ZRO) See Price Surges Following Whale Activity

Render (RENDER), a decentralized graphics processing solutions provider, is also gaining attention. The analyst reports that RENDER is seeing a notable price recovery as large wallet addresses aggressively accumulate the native token. Santiment’s report shows that RENDER has surged about 33% since its last pullback. The crypto analysis platform revealed that whales accumulated 20.54 million RENDER tokens in 11 weeks, increasing their ownership to 91.82% of the total supply.

Additionally, the analyst pointed to a surge in Layer Zero’s (ZRO) price, observing that it increased by 13% in 24 hours. The surge follows the Layer Zero Foundation’s announcement of the end of the project’s airdrop claims. The recent surge adds to ZRO’s ongoing rally, which has seen the asset gain about 75% in the past three weeks.

Again, Santiment’s data indicates that whale accumulation is driving ZRO’s rally. The analysis platform shows that whales recently increased their ZRO holdings, with those holding between 10 million and 100 million tokens accumulating an additional 10.26 million ZRO tokens. The Altcoin Buzz analyst believes that if this trend continues, ZRO’s price could increase and potentially surpass its all-time high.