The cryptosphere has been holding on to its price metrics in quest of a massive alt season. That could drive the assets from its directory to the moon, which have been longing for the thrust. Successively, crypto folks have been analyzing investment options, the timeframe of an altseason, consideration of whales amongst others.
In succession, a proponent from the coin market sheds light on the peak of altcoins and the star crypto Bitcoin. The proponent cites that since Bitcoin is in-line with gold’s trajectory from 1999-2011. It is still distant from the rising wedge for a top, which would be in 2023. In contrast, alts have been following the dotcom, and are in the rising wedge, which would impel for an upward pressure in 2022. Conversely, ETH, ADA, and DOT have risen as potential alts for the whales.
Are The Whales Betting Big On These Altcoins?
Ethereum (ETH):
Ethereum is one digital asset, which BTC whales rather any whale would not fail to consider. Owing to its dominance in the utility front, despite the limitations that have curbed the sprawl to a definite perimeter. However, a majority of curbs will be lifted off post the merger to ETH 2.0. In addition, a positive update for the community comes as Twitter adds Ethereum wallet to tip jar.
Talking about numbers, the daily on-chain net exchange flow of Ethereum is now +76.5 M. While the balance of ETH on exchanges has reached a 3-month high of 14,646,625.967 ETH. The median transaction volume (7D-MA) has hit a month-low of 0.091 ETH. In addition, the mean fee paid (7D-MA) has reached a 5-month low of $19.73.
On the other hand, the number of ETH withdrawals on exchanges (7D-MA) has reached a 20-month low of 865.125. The mean gas price for (7D-MA) has hit a month-low of 78.994 Gwei. Conversely, the growing stakes in deposit contracts of ETH 2.0 could also be fueled by the whales to a significant extent.
Cardano (ADA):
Cardano with its robust fundamentals, stout developments, alongside its PoS mechanism, level of decentralization, and environment-friendly initiatives. Makes it an ideal bag for not just BTC whales, but for other bigger whales as well.
The on-chain metrics as previously cited by CoinPedia had outpowered Bitcoin and Ethereum. With higher 24-hour transaction volumes, adjusted transaction volumes, and lower fees. Howbeit, the present transaction volume for 24-hours is $18.03. While adjusted transaction volumes are at $33.67 B, which sits below Bitcoin.
The realized market cap is currently at $36.11 B which is on a gradual move to the south from the peaks. The active addresses are at 3,416,249, while the count for 24-hours is at 219,514. Successively, the addresses count with a balance greater than $10 M is at 495, while the ones greater than $1 M are at 3690. While the number of addresses with balances exceeding $100k stands at 27,886.
Polkadot (DOT):
Polkadot with its parachain auctions has garnered the interests of the masses including retailers and deep-pocketed whales. Moreover, the success of projects that have acquired slots has persuaded more projects, wherefore stiff competition has become evident. In addition, the energy-efficient and eco-friendly traits alongside Web 3.0 have been fueling its prominence.
Learning from sources, the active supply for 24-hours is at 134,813,847.37, while the active addresses for 24-hours are at 24,205. The addresses with a balance greater than $10 M are at a count of 291. The numbers are at 1,132 for balances greater than $1 M, whereas 4,064 addresses hold balances exceeding $100k. Which signals at retailers holding a bigger sack of DOTs.
The price of DOT is about 64.66% below its ATH, and the healthy market cap makes it a potential bag for whales. The robust fundamentals, developments, and utility make it an even more compelling buy.
Summing up, the aforementioned digital assets are ideal ones to bag and hodl for retailers and whales. Bigger investors holding onto the assets will eventually persuade more retailers and institutions to follow suit. With an altseason nearing the horizon, these alts are poised to leg up towards greater highs.
Source: https://coinpedia.org/news/btc-whales-stacking-eth-ada-and-dot/