Crypto Whales Show Interest in These Altcoins in the Second Week of September 2024
The second week of September 2024 witnessed increased trading activity in the cryptocurrency market, with a 3% rise in global market capitalization. This surge in optimism has caught the attention of crypto whales who have been accumulating assets such as Toncoin (TON), Ethereum (ETH), and Artificial Superintelligence Alliance (FET).
Toncoin (TON)
Toncoin (TON) has attracted the interest of crypto whales as its price continues to climb. This upward trend follows Telegram CEO Pavel Durov’s recent statement addressing his arrest in France. The current trading price of Toncoin stands at $5.55, reflecting a 16% increase over the past seven days. Many holders of Toncoin have experienced profitable gains due to this rise.
The growing price has also led to an increase in the number of whale addresses trading the altcoin. Santiment’s data reveals that there are currently 1,219 whale addresses holding between 1,000 and 100,000 TON, which is the highest number in the past 30 days.
Ethereum (ETH)
Whales have shown significant activity in Ethereum (ETH) this week, as large holders’ netflow surged by 109%. Large holders are addresses that possess over 0.1% of an asset’s circulating supply, and their netflow measures the difference between the coins they buy and sell over a specific period. This accumulation of Ethereum by whales has occurred despite facing resistance at the $2,386 price level, indicating that they are undeterred by the price challenges.
Whales are likely anticipating a price rally as market sentiment shifts from negative to positive. If ETH manages to break above the $2,386 resistance level, it could continue its upward trajectory and potentially reach $2,783.
Artificial Superintelligence Alliance (FET)
The AI-driven asset Artificial Superintelligence Alliance (FET) has experienced a remarkable 25% growth in value this week. It garnered further attention from market participants following reports of OpenAI seeking to raise $6.5 billion in equity financing.
Santiment’s data reveals an 11% increase in the number of crypto whale addresses holding between 10,000 and 1,000,000 FET. Currently, there are 763 addresses in this group, marking an all-time high.
Overall, crypto whales have been actively accumulating Toncoin (TON), Ethereum (ETH), and Artificial Superintelligence Alliance (FET) in the second week of September 2024. This indicates their confidence in the future prospects of these altcoins.