Crypto Whales are Accumulating these Altcoins for the BIG Bullrun

October was a busy month for crypto whales. But November is getting even busier. Crypto whales are leading the charge in these market activities.

Whales are buying certain crypto altcoins ahead of a looming bull market. This article will show you some of the projects with the most whale activity in November.

1) Bitcoin

Bitcoin lovers had one of the best weeks in a while. And that’s because Bitcoin surpassed $37,000 for the first time since May 4, 2022. The price growth can be traced to the optimism surrounding Bitcoin. Many believe that the SEC will approve a spot Bitcoin ETF in the coming weeks. And industry insiders believe this approval will lead to significant capital pouring into the market.

Last week, Coindesk reported that the SEC had begun major discussions with Grayscale Investments over the conditions of its proposal to transform its Bitcoin trust, also known as GBTC, into a Bitcoin ETF.

Whales saw this price surge as the right time to add to their holdings. A notable Bitcoin whale recently purchased substantial amounts of Bitcoin valued at about $15 million. 

It is important to note that not all BTC whales are accumulating. Some have initiated coin distribution. This shows their plans to secure profits amidst the recent price consolidation.

The Bitcoin Fear and Greed index recently shifted into the “greed” zone. This shows many might be thinking about taking profits. But this rules out whales’ continued interest in Bitcoin.

2) Ethereum

Ethereum has continued its impressive price surge and now trades at $1972.84. And it has had a 5% price increase in the last seven days. One of the factors behind ETH’s resurrection is whales’ interest in the coin. On-chain data shows that Ethereum whales have busied themselves with accumulating the cryptocurrency.

Lookonchain claims that the whale at address “0xee47” recently added 3,200 ETH, or almost $6.7 million, to their Ethereum (ETH) holdings. This whale began accumulating ETH several months ago. And currently, their assets are worth around $387.8 million, or 183,742 ETH, which represents an unrealized profit of over $154 million.

Ethereum moved past $2000 in November. The price surge occurred shortly after BlackRock confirmed plans to launch an Ethereum Spot ETF in a NASDAQ filing. On-chain data indicates that several large institutional investors responded to the bullish news by buying ETH worth millions of dollars.

The chart displayed on your screen shows that whales with balances between 1,000 and 100,000 ETH had a starting balance of 13.98 million ETH on November 9. However, as of Sunday, November 12th, at the close of business, their total ETH holdings had risen to 14.08 million.

This suggests that the whales increased their holdings by 100,000 ETH.

Santiment claims that Ethereum has had a strong network expansion in recent days. And this has caused its market value to soar by 38% in just 4 weeks. For example, micro addresses (<0.1 $ETH) recently exceeded 100,000 wallets. There is also an increase in both the 0.1–10 $ETH and 10K+ $ETH categories.

3) Cardano

Cardano is one of the four networks that have seen massive whale activity in the last six months. Cardano whales were busy accumulating the token in October. And so far, that habit has continued in November.

On November 6th, ADA’s price surged by 7.5% to $0.3543, the highest in four months. And whale activity is one of the reasons behind this.

A recent report by blockchain analytics firm IntoTheBlock (ITB) shows a fascinating trend. Cardano whales have accumulated 1.89 billion units in recent times. Cardano recently launched its Midnight DevNet. Many expect this launch to push the price and value of the project higher.

“Big holders,” or addresses holding at least 0.1% of the circulating supply, increased their holdings when ADA traded hands between $0.249 and $0.271. The combined value of this accumulation is around $700 million.

Cardano’s strong development activities behind the scenes have been key to boosting investor trust. Cardano recovered from a bearish attack that saw ADA’s value fall below a quarter of a dollar last year. It used the slump to improve its infrastructure. Interestingly, Cardano topped the GitHub activity statistics, indicating the network’s developers’ unwavering progress.

4) Chainlink

Our final project is Chainlink. $LINK whales have stayed active in recent weeks. Santiment data shows that the Chainlink boom is still going strong. Dormant tokens are circulating. And wallets holding 10K–10M $LINK have previously accumulated.

Earlier this month, Chainlink surged beyond $12.50 for the first time since April 2022.

Chainlink has shown huge potential in recent days. And we could see further price growth pretty soon.

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.


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