The crypto market is bleeding. This offers a great buying opportunity. Whales are taking advantage of this market and are buying 2 altcoins.
That’s why today I will take a closer look at what altcoins they have been buying. Here are two favorite whale altcoins over the last month.
Whales are buying because they have a long-term vision. They see that in the long term, the crypto market will go up. Especially if we look at Bitcoin. There are more and more states or countries that are interested in buying Bitcoin. This doesn’t go unnoticed, and the whales are preparing for this.
For example, China and Middle Eastern countries are considering a Bitcoin buying strategy. Abu Dhabi’s Sovereign Wealth Fund bought for $460 million Bitcoin in February.
Brazil is also part of this list as of November 2024. It introduced legislation to invest 5% of their strategic reserve into Bitcoin. And we all know that the current US government is looking into a Strategic Bitcoin Reserve.
If you’ve been following this channel, you should know Larry Fink by now. He’s BlackRock’s CEO. That’s the largest investment firm in the world. Besides being a fan of RWA, he also said this in early March. “If there’s a dip, investors should buy”. Well, this is as good as a dip as they come. So, now let’s take a look at what these whales are buying?
Bitcoin ($BTC) is currently a logical target for whales. At current $BTC prices around $80,000, that should come as no surprise. That’s between 25% and 30% down from its $108,786 ATH. And that was only 2 months ago.
The above-mentioned interest of state nation in Bitcoin helps as well. Once countries start buying Bitcoin, it should influence the price. There’s also increased demand by institutions. Look how well the Bitcoin spot ETFs are doing.
All major investment firms have a Bitcoin spot ETF. For example,
Currently, there are 12 US based Bitcoin spot ETFs and various Bitcoin Futures ETFs. Recently, there have been some sell-offs, due to current market conditions. However, in general, they are still in the plus.
So, the current price prediction for Bitcoin for 2025 goes as high as $250,000. This is what Tim Draper expects. In 2014, he predicted that $BTC would reach $10,000 within three years. Sure enough, Bitcoin did exactly that. So, that’s 4x from the current $BTC price.
Ripple ($XRP) has shown great resilience. Where a lot of altcoins are suffering, $XRP held its ground. The current $XRP price is still $2.34. As already mentioned, given the current circumstances, that’s good.
Whales are still buying $XRP. Here’s one that bought 4.6 million $XRP a day ago. In the greater picture, whales bought 150 million $XRP over the last 48 hours. That’s some good going right there.
This keeps the $XRP price above key demand levels. Support is currently at $2. So, $XRP is still well above that level. However, holding this support level is also important. On the other hand, $XRP could be ready for a $15 price tag as well. It just broke out of a symmetrical triangle on the monthly chart.
Ripple is in a prime position with the recent US government stablecoin policy update. That’s the playing field for their $RUSD stablecoin. The long-standing SEC lawsuit is coming to an end. So, all lights seem to turn green for Ripple and its $XRP token.
Last but not least in today’s whales list is Ondo Finance ($ONDO). Unless you’ve been living under a crypto rock, you should know by now that RWA is a hot crypto sector. Ondo is one of the top 3 contenders in this market segment.
Currently, the $ONDO price action is dipping. It went from a recent ATH of $2.14 from three months ago to its current price of 84 cents. However, this seems like a perfect entry point. Ondo Finance seems to be doing all the right things.
Its fundamentals are as strong as ever. Remember that Trump’s DeFi platform World Liberty Financial holds $ONDO. This resulted in Donald Trump Jr being a speaker at the recent Ondo Summit in NYC. Ondo Finance also went over $1 billion in TVL and managed to stay there.
No wonder that whales were buying $ONDO during the last month. One whale dumped all his $PEPE and $BEAM with a loss and went all in to $ONDO. That’s conviction!
So, what do you think of these whale moves? Do you hold any of these altcoins? Let me know in the comments. And don’t forget to join our discussions on Discord and X.
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 accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from 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.
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