3 Top Altcoins That Could Benefit From Increased Whale Activity In May
- 1 Crypto whale accumulation has decreased after the Bitcoin halving as the overall market experienced corrections.
- 2 Bitcoin’s dominance has decreased from 56.3% to around 53%, suggesting a potential comeback for altcoins.
- 3 Several altcoins have witnessed significant movements in whale activity during recent trading sessions.
Following the Bitcoin Halving event, the broader cryptocurrency market has been experiencing corrections that are intensifying with each passing day.
In the past 24 hours, the overall crypto market has dropped by nearly 5%. Bitcoin (BTC) and Ethereum (ETH) have been on a decline, with BTC down by 6.10% at press time and ETH slumping by 4.78%.
However, from another perspective, the recent correction could present an opportunity to accumulate altcoins at discounted prices. In this regard, ADA, TON, and ARB have all shown significant whale activity in recent sessions, indicating a potential reversal in May.
If the broader market manages to recover, these altcoins could be attractive investments as whales have begun accumulating them.
Whale Transaction In Cardano Explodes In The Recent Sessions!
Cardano has also suffered amidst the overall market corrections, experiencing a decline of nearly 17% over the past week and reaching its previous demand zone.
However, price action suggests that investors should wait for a reversal before considering long entries. On the other hand, the recent surge in whale activity for ADA offers hope for an upcoming reversal.