© Reuters. Crypto Millionaire Whales Target These Assets: Are The Coins Ready To Soar?
Benzinga – A significant uptick in whale activity has been observed, particularly influencing the performance of several altcoins.
What Happened: A recent analysis by Santiment suggested these large-scale investors are actively participating in networks with transfers exceeding $10 million, leading to increased volatility.
Amid this whale-driven market activity, Benzinga’s Future of Digital Assets conference emerges as a pivotal platform for investors and crypto enthusiasts. The conference offers insights, discussions and a deep dive into the evolving landscape of digital assets, making it an essential event for those keen on understanding the dynamics of the current crypto market.
Following Grayscale’s (OTC: GBTC) recent legal triumph, coins such as AAVE (CRYPTO: AAVE), COMP (CRYPTO: COMP), IMX (CRYPTO: IMX), and YGG (CRYPTO: YGG) have witnessed a remarkable surge in their values.
In just a day, AAVE’s price jumped by 11%, COMP saw a 9% rise, IMX increased by 4% and YGG went up by 6%.
This swift price escalation not only underscores the growing investor enthusiasm but also hints at a potential bullish trajectory for these digital assets.
Also Read: Infamous Chisel: The Russian Malware That Could Wipe Out Your Crypto Wallet
Furthermore, while the spotlight remained on the aforementioned altcoins, others have not been left behind in this bullish tide.
Bitcoin Cash (CRYPTO: BCH) experienced a 17% price surge, XDC Network (CRYPTO: XDC) rose by 12%, Stacks (CRYPTO: STX) climbed 11%, and Conflux (CRYPTO: CFX) increased by 10%.
This price momentum is reflective of an influx of approximately $50 billion into the crypto domain.
Why It Matters: As a result, the cryptocurrency market’s total capitalization has impressively reached $1.11 trillion. With whale activities shaping the market and significant capital flowing into the crypto space, it’s an opportune moment for investors to strategize, learn and engage.
Read Next: HashKey Capital To Inject Millions Into Altcoins — Shiba Inu, Dogecoin, And Pepe Coin Set To Soar?
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