Bitcoin and altcoin prices are down slightly, while whales, the big investors, are increasing their purchases. So, what are the latest coins in the whales’ focus?
Expectation of post-fall momentum draws whales attention
Koindeks.com As we have also reported, October 2021 was one of the best periods for the crypto industry. We witnessed the biggest bull runs in the area. By November 2021, many major cryptocurrencies hit all-time highs. But right now, things don’t look that good. The rising dollar against other currencies has increased the burden of global investors and economics.
However, as many traders say, a falling market is the best time to enter the segment. Prices are relatively cheap. Many crypto projects have experienced declines on the monthly charts. However, the upper truth usually climbs after the markets fall. Historically, the largest crypto, Bitcoin (BTC), has always risen higher than its previous peaks in every bull run.
What altcoin projects are in the focus of whales?
- Lido Staked Ether (stETH): Ethereum (ETH) has made a transition to a Proof-of-Stake (PoS) consensus formula. Now Lido Finance has the highest staking metric accounting for 31 percent of the total. Additionally, Lido’s staked Ethereum is locked for a one-year respite. This indicates that Lido will become heavier in terms of demand as exports decrease. In addition, whale interest in the project increased. StETH currently accounts for 4.84 percent of the top 100 Ethereum whale investments.
- Shiba Inu (SHIB): SHIB is currently one of the most recognizable crypto projects on the market. Also, Shiba Inu has many works released this year. The project has recently released its new game, Shiba Eternity. The team is currently working on a layer-2 network called Shibarium. The developers are also working on two additional tokens for the ecosystem, a stablecoin Shi and a reward token TREAT. Investors expect the SHIB group to publish their Shibarium paperwork very soon.
- Left (LEFT): While most crypto projects fell in double-digit numbers throughout the month, SOL kept that number at 5.1 percent. In addition, the project is gaining ground in the NFT market on Ethereum. SOL announced at the beginning of the summer the launch of a crypto phone, which is expected to launch in January 2023. However, the price of SOL has been moving sideways since September. However, Twitter analyst “Altcoin Sherpa” believes SOL is currently in accumulation mode. Crypto analysts believe that the project will rise in October 2022, as it has been hovering at the same level for a while.
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