In the fourth week of July 2024, crypto whales showed significant interest in three altcoins: Arbitrum （ARBUSD）, Ripple （XRPUSD）, and Ondo （ONDO）.
Points
- Arbitrum sees substantial whale accumulation despite a YTD slump.
- Ripple’s whale addresses increase, pushing XRP back to $0.60.
- Ondo experiences high institutional interaction and adoption.
- Large holders’ netflow indicates strong whale confidence.
- Price predictions suggest potential gains if current trends persist.
In the fourth week of July 2024, crypto whales demonstrated a strong interest in several altcoins, signaling confidence in their near-term potential despite mixed performances. Arbitrum （ARBUSD）, Ripple （XRPUSD）, and Ondo （ONDO） stood out as the top choices for these large investors.
Arbitrum Attracts Whale Interest Despite Year-To-Date Slump
Arbitrum’s inclusion among the cryptos whales are buying might come as a surprise, given its year-to-date （YTD） performance. At press time, ARB trades at $0.73, reflecting a minor increase over the last 24 hours but a significant 57.82% decline on a YTD basis. Despite this, whales have shown a renewed interest, accumulating the altcoin at levels not seen in a long while. According to IntoTheBlock, large holders’ netflow for Arbitrum jumped by an astounding 870.62% in the past seven days.
The increase in netflow indicates more accumulation than distribution among large holders. While the reasons behind this significant buying activity remain unclear, one potential catalyst could be the anticipated approval of a spot Ethereum ETF, which market participants believe might boost related tokens’ prices. However, the approval’s influence on prices has yet to materialize fully.
Growing Whale Confidence Pushes XRP Back to $0.60
Next on the list is Ripple’s XRP, which has recently enjoyed favorable market conditions. Data from Santiment shows that the number of addresses holding between 100 million to 1 billion tokens has risen since July 23. This cohort’s supply increased from 37.99% to 40%, indicating growing whale confidence in XRP. This uptick in whale accumulation helped XRP reclaim the $0.60 mark, a 9.67% increase driven by renewed interest from large investors.
Significant Whale Activity Brightens Ondo’s Bullish Predictions
Ondo （ONDO） has seen a high level of institutional interaction and adoption in recent months, even though its price is down 33.20% from its all-time high. Data from IntoTheBlock shows that interest from large entities and deep-pocketed individuals is unlikely to wane anytime soon. The large holders’ netflow for ONDO surged by 1468.89% in the last seven days, suggesting robust whale accumulation.
At press time, ONDO trades at $0.98, following a slight price increase over the last 24 hours. If the whale momentum continues, ONDO could climb back to $1.20, where it was on July 1, 2024.
解説
- The substantial interest from crypto whales in Arbitrum, Ripple, and Ondo underscores the importance of large holders in shaping market trends and price movements.
- The significant netflow increases for these altcoins indicate strong confidence among large investors, suggesting potential bullish trends if accumulation continues.
- Understanding whale activity can provide valuable insights for retail investors, as large movements often precede broader market trends.
- The potential catalysts, such as the approval of a spot Ethereum ETF, highlight how regulatory developments can influence market sentiment and investor behavior.
- Keeping an eye on whale accumulation patterns can help investors make informed decisions and anticipate possible price movements in the cryptocurrency market.