Altcoins
3 Altcoins to Sell If Ethereum Hits $5,000 After ETF
Recent whale activity sheds light on which altcoins to sell before Ethereum hits $5,000 after the ETF launch. Historically, Bitcoin corrects after the halving event for about 145 days before the main bull run begins, which tends to last about 1.3 years. With less than 60 days until the market’s potential bull rally begins, here are 3 altcoins that whales are buying in July.
1. Altcoins for Sale – XRP (XRP)
XRP is the native currency of the XRP Ledger, a blockchain designed to help financial institutions streamline cross-border payments using a fast and cost-effective network. Ripple Labs is the company behind XRP and XRPL. It has already integrated several banking institutions and is continuing its crusade to integrate more.
Top Altcoins – xrp price chart
XRP price is trading around $0.5457, up 25.7% in the last 7 days. XRP Price is showing signs of a breakthrough that the entire cryptocurrency market has been waiting for a long time. Since the start of the Ripple-SEC lawsuit in December 2020, the asset’s price has remained below the 1 cent dollar level.
The Ripple network saw strong adoption following the announcement that CME Group would launch new daily price reference rates and real-time indices for XRP and ICP starting July 29, 2024.
As a result, whales are rushing to buy the crypto asset, with one major player purchasing 38 million XRP ($20 million).
This comes as the Ripple-SEC lawsuit appears to be coming to an end. Following the recent settlement between Terraform Labs (TFL) and the SEC, Ripple appealed to the court to have its penalty reduced. Subsequently, the penalty was reduced to less than $120 million. In a similar vein, the SEC dropped its investigation into Ethereum, after which the 19-4b ETFs were approved. The exact process could play out for Ripple and XRP.
2. MAGA (TRUMP)
MAGA is among the many Trump altcoins that have proliferated as the former US president announced his candidacy for the November 2024 election. The crypto project also bills itself as a charity, donating proceeds from the 1% tax on purchases, sales and transfers to veterans and child trafficking prevention services in the US. As of July 15, MAGA has donated $1.7 million to these causes.
TRUMP is the native token of the MAGA community, and its price jumped nearly 50% from $6.34 to $8.03 over the weekend following an assassination attempt on Donald Trump. TRUMP’s price had been rising steadily in anticipation of the upcoming Bitcoin 2024 conference in Nashville, where the former president was scheduled to deliver a 30-minute speech. After the assassination attempt, Trump claimed he would still show up at the conference.
An analysis conducted by Lookonchain and Arkham Intelligence revealed that the Gigantic Rebirth (GCR) address, labeled “GCR Address 1,” still holds over 936,000 TRUMP tokens and is generating a profit of over $6.5 million.
This indicates that whales are still holding this altcoin. After winning the debate and escaping assassination, his chances of winning the election may have just increased, and with them, TRUMP’s price.
3. Altcoins for Sale – Chainlink (LINK)
Chainlink is the glue that holds the majority of DeFi protocols together. Developed by Sergey Nazarov, Chain link is a universal platform for blockchain creators and decentralized financial institutions. The main product of the Chainlink oracle network is the Cross-Chain Interoperability Protocol (CCIP), which enables the secure and reliable transmission of data and its value between different blockchain networks. As an oracle network, Chainlink’s services enable smart contracts to securely communicate with real-world data and services outside the blockchain network. This can impact the real-world assets (RWA), DeFi, AI, and even DePIN sectors.
Watch on the channel I just spotted a whale that secretly accumulated 12.75 million LINK ($167 million) across 93 different wallets in less than a month. Such a massive investment is a bullish signal for the crypto asset.
Chainlink price has increased by 2.5% in the last 24 hours to trade at $14.10. Chainlink Price Prediction shows strong support around $12.8, which could hold the price if market conditions turn bearish. However, before that happens, LINK is one of the altcoins to sell while waiting for the perfect entry position.
Chain link – the best altcoins
LINK’s Relative Strength Index (RSI) has just crossed above the midpoint, confirming a bullish trend and increased buying momentum. The Moving Average Convergence Divergence (MACD) indicator has also spotted a bullish crossover, confirming a bullish reversal for LINK.
Conclusion
While Ethereum’s price potentially reaching $5,000 after ETF approval may seem like an exciting opportunity, it may also mean a good time to reevaluate your altcoin holdings. As Ethereum gains momentum, some altcoins may struggle to maintain their value or relevance. XRP, LINK, and MAGA represent a few altcoins to sell, allowing you to consolidate your gains and potentially reinvest in more promising or stable assets.
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Frequently Asked Questions (FAQ)
In the cryptocurrency space, “whales” refer to individuals or entities that hold a large amount of a particular cryptocurrency. These holders can significantly influence the market due to the sheer volume of their holdings.
Altcoins, short for “alternative coins,” refer to any cryptocurrency other than Bitcoin, including Ethereum.
Yes, Ethereum is a good buy. Analysts predict that Ethereum price will surpass its all-time high when ETH ETFs launch.