Crypto whales are once again making bold moves in the altcoin market, showing possible changes in their investment strategies. According to Spotonchain, a blockchain analytical platform reported that it appears that these whales’ strategies have changed from what they accumulated in previous weeks.
Key Altcoins Bought By The Whale
Over the past few hours, Spotonchain reported a significant move by a crypto whale who purchased 189.55 million BEAM tokens. The transaction involved spending 1,458 WSTETH, valued at $6.7 million, with an average price of $0.03515 per token. This marks BEAM as a key focus in the whale’s investment portfolio.
In addition to buying the BEAM token, the Whale has diversified their portfolio by adding other prominent altcoins. Since December 1, they have allocated $35.7 million worth of ETH across four tokens, showcasing a strategic approach to the market. Among these tokens are;
Fantom (FTM): The whale bought 10.245 million FTM for $13.5 million. However, this investment has faced a slight dip, resulting in a $181,000 loss.
PePe (PEPE): A massive 531.7 billion PEPE tokens were purchased for $11.04 million, now showing a $1.94 million profit.
Aerodrome Finance (AERO): The whale invested $4.43 million in 2.453 million AERO tokens, yielding $699,000 in gains.
Whales Eyeing Big On VIRTUAL
Another standout altcoin for this week is VIRTUAL, the native token of Virtuals Protocol, an AI-powered project on the Base chain. Meanwhile, whales are making significant purchases of VIRTUAL tokens. Two newly activated wallets, likely controlled by the same whale, withdrew 10 million USDC from Coinbase to buy 4.25 million $VIRTUAL for $2.35 per token.
Additionally, another whale with wallet address 0xcf4d…b6bc spent 406 ETH, worth $1.58 million, to acquire 664,361 $VIRTUAL tokens at $2.39 each.
On December 12, Santiment reported that wallet addresses holding between 100 million and 1 billion VIRTUAL tokens saw a sharp increase in holdings. These wallets collectively added 6.30 million VIRTUAL tokens worth nearly $15 million, pushing the token’s price to a new all-time high. If the accumulation trend continues, the token could break the $2.60 barrier.
Source: https://coinpedia.org/news/heres-what-altcoins-crypto-whales-are-buying-in-mid-december-2024/