Jakarta, Pintu News – Amid rising geopolitical tensions in the Middle East region, crypto markets experienced a sharp spike in volatility this week.
However, large-scale holders of these assets-commonly referred to as crypto whales-have remainedactive, carefully accumulating select tokens that have high upside potential. Some of the leading assets to target include Ethereum, Bitcoin Cash, and Dogecoin.
Although the price performance of flagship altcoin Ethereum has been lackluster this week, the asset remains one of those bought by crypto whales amidst a flurry of market volatility.
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This can be seen from the surge in large holder netflows, which increased by over 7000% in the last seven days, according to data from IntoTheBlock.
Wholesaler netflow measures the difference between the amount of tokens bought and sold by whales in a given period.
When the number increases significantly like this, it indicates massive accumulation, which indicates increased confidence or a bullish outlook on the asset.
If this trend continues, the altcoin has the potential to start a new rally phase, and could break into price territory above $2,500.
Bitcoin Cash is another asset that crypto whales are accumulating amid the geopolitical turmoil in the Middle East.
Data from Santiment shows an increase in the number of coins held by wallet addresses that hold between 1,000 and 10,000 BCH tokens.
In the past week, this group of BCH holders has accumulated 40,000 tokens, which is worth more than $19 million based on current market prices.
Currently, the altcoin is trading at $485.76, up about 5% in the last 24 hours, as bullish sentiment increases across the crypto market.
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The leading meme coin, Dogecoin , also attracted increased attention from crypto whales this week. On-chain data from Santiment revealed a surge in accumulation by large holders who own between 100 million to 1 billion DOGE.
In the past week, the group has collectively purchased 140 million DOGEs, with the total purchase value exceeding $24 million.
This surge in accumulation by whales is a bullish signal for DOGE’s short-term outlook.
If this momentum continues to develop, this wave of accumulation could be the basis for a short-term recovery or even a breakout from current price levels.
That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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