Despite a recent decline in the cryptocurrency market, some assets are attracting attention from crypto whales who are looking to capitalize on potential gains. Toncoin （TON）, Tron （TRX）, and Binance Coin （BNB） are among the top picks for August 2024.
Points
- Toncoin （TON） is showing signs of being undervalued, attracting whale accumulation.
- Tron （TRX） has seen a significant increase in large holders’ net flow.
- Binance Coin （BNB） is exhibiting a bullish divergence in its Chaikin Money Flow indicator.
- Crypto whales are focusing on these assets in anticipation of a market rally.
- Investors should consider these trends when making investment decisions.
As the cryptocurrency market experiences a downturn, savvy investors, particularly crypto whales, are on the lookout for assets with potential for significant gains. In August 2024, three cryptocurrencies are drawing substantial interest from these large-scale investors: Toncoin （TON）, Tron （TRX）, and Binance Coin （BNB）.
Toncoin （TON）
Toncoin is catching the eye of crypto whales due to its current undervaluation. The Market Value to Realized Value （MVRV） ratio for TON indicates that the token is undervalued, flashing a buy signal. At press time, TON’s MVRV ratios for the 30-day and 90-day moving averages are -6.39% and -6.87%, respectively. This suggests that the token’s market value is below the average price at which most investors acquired their holdings.
Historical data shows that negative MVRV ratios often present buying opportunities for traders looking to buy the dip and sell at a higher price later. The recent increase in whale accumulation further supports this trend. According to Santiment, the number of TON whales holding between 100,000 and 10,000,000 tokens has increased by 2% in the last month, reaching an all-time high in the number of addresses in this cohort.
Tron （TRX）
Tron has also been a focal point for crypto whales. On-chain data from IntoTheBlock reveals a significant 243% increase in TRX’s large holders’ net flow over the past 30 days. Large holders, defined as addresses holding more than 0.1% of the asset’s circulating supply, have been accumulating TRX despite the token’s sideways movement in the last month.
Readings from TRX’s daily chart show that the token trended within a horizontal channel throughout July, breaking below the lower line of this channel on the last trading day of the month. If whale accumulation persists, it could trigger a broader demand for TRX, potentially leading to a price rally that may see TRX trading at $0.13.
Binance Coin （BNB）
Binance Coin is displaying a potential bullish divergence, making it an attractive asset for crypto whales. The relative balance between BNB’s buying and selling pressures has prevented its price from trending strongly in either direction over the past few weeks. However, the Chaikin Money Flow （CMF） indicator for BNB has maintained an uptrend, currently at 0.24. This suggests a growing influx of money into BNB, indicating accumulation by larger investors.
A sideways price movement coupled with a rising CMF often points to a potential bullish divergence. If BNB successfully breaks out of its current range upward, its price may reach $617, presenting a lucrative opportunity for investors.
解説
- Toncoin （TON）: The undervaluation of TON, as indicated by its negative MVRV ratios, presents a strong buying opportunity for investors. The recent increase in
Toncoin （TON）: The undervaluation of TON, as indicated by its negative MVRV ratios, presents a strong buying opportunity for investors. The recent increase in whale accumulation is a positive signal, suggesting that large-scale investors anticipate a future price increase. Historical trends support the notion that buying when the MVRV ratio is negative can yield substantial returns when the market corrects.
Tron （TRX）: The significant increase in large holders’ net flow for TRX indicates heightened interest from major investors. Despite TRX’s recent sideways trading pattern, the accumulation by whales could drive a demand surge. If this trend continues, it could lead to a price breakout, pushing TRX to new highs. Investors should watch for sustained whale activity as a key indicator of potential upward movement.
Binance Coin （BNB）: BNB’s bullish divergence, as evidenced by its Chaikin Money Flow indicator, suggests that the token is experiencing an influx of capital despite its sideways price movement. This pattern often precedes a price rally. Investors should monitor BNB’s trading range and the CMF closely, as a breakout could signal a profitable buying opportunity.
解説
- Market Trends: Despite the recent downturn in the cryptocurrency market, the interest from crypto whales in specific assets suggests that they are looking for undervalued tokens with strong potential for gains. This trend highlights the importance of monitoring whale activity as an indicator of market sentiment and potential investment opportunities.
- Investment Strategy: For retail investors, understanding and following the movements of large-scale investors can provide valuable insights into which assets are likely to perform well. By aligning their investment strategies with the trends identified by whale activity, retail investors can improve their chances of capitalizing on market opportunities.
- Risk Management: While the interest from whales is a positive indicator, it is essential for investors to conduct their own research and consider the inherent risks of cryptocurrency investments. Market volatility can lead to rapid price changes, and staying informed about broader market conditions is crucial for managing risk.
- Future Outlook: The focus on TON, TRX, and BNB by crypto whales indicates confidence in the potential of these tokens. As the market stabilizes and potentially enters a new growth phase, these assets could see significant appreciation. Investors should keep a close watch on market developments and adjust their portfolios accordingly.