Altcoins
XRP, ADA, and Other Altcoins to Accumulate Ahead of Trump’s Nashville Speech
Bitcoin has recovered most of its losses from the week as traders eagerly await former U.S. President Donald Trump’s appearance at the Bitcoin 2024 conference in Nashville, Tennessee. Interestingly, Bitcoin gained over 1% today as Trump appears to have changed his stance on digital currencies this election cycle.
Analysts Buzz About Altcoins said that this week, crypto whales have been quietly accumulating several altcoins, showing confidence in their short-term potential despite recent performance declines. Here are the top altcoins:
Arbitration:
Current price: $0.72
Whale activity:Despite its significant decline since the start of the year, Arbitrum has seen an 87% increase in net inflow from large holders over the past week. This suggests that whales believe in the token’s long-term potential. Arbitrum, a Layer 2 scaling solution for Ethereum, aims to improve transaction speeds and reduce costs on the Ethereum network. The recent accumulation of whales could indicate confidence in its technology and future adoption.
XRP:
Current price: $0.59
Whale activity:According to Santiment, the number of addresses holding between 100 million and 1 billion XRP tokens has increased since July 23. This shows that the supply has increased from 38% to 40%, which is a sign of growing confidence among large holders. XRP has benefited from recent legal victories and market sentiment, making it an attractive option for whales.
Cardan:
Current price: $0.41
Whale activity:Cardano saw a staggering 10,878% increase in large holder inflows in a single day, surpassing the 5 billion mark. This indicates a significant level of confidence among whales in ADA’s recovery potential. Cardano’s recent upgrades and continued development have been positively received by the market, contributing to its attractiveness.
Chain link
Current price: $13.55
Whale activity: Chainlink recently integrated its Cross-Chain Interoperability Protocol (CCIP) with TrueFi on the Ethereum and Arbitrum blockchain platforms. TrueFi, backed by Coinbase and Chainlink, provides transparent and real-time financial data, improving the decentralized finance (DeFi) ecosystem. This integration could drive increased adoption and usage of Chainlink, making it a popular choice among whales.