Crypto Whales Accumulated These Altcoins in the Second Week of December 2024
In the second week of December 2024, several altcoins saw significant price increases, fueled by large purchases from crypto whales. BeInCrypto has observed that these whales appear to have shifted their strategies compared to previous weeks. Here’s a breakdown of some top altcoins crypto whales bought this week.
Aave (AAVE)
AAVE, the token for the decentralized lending and borrowing platform, is at the top of the list for whale accumulation. Data from IntoTheBlock reveals that the netflow of large holders for AAVE stood at nearly 4,000 on December 11, climbing to 87,860 by December 12. This surge in whale activity suggests that crypto whales purchased around $35 million worth of AAVE. As a result, AAVE's price has jumped 42% over the past week, currently trading at $370.34. This increase may also be linked to reports that Donald Trump’s crypto project acquired the token. If whale buying continues, AAVE's price could rise further, but selling pressure could cause a reversal.
Virtuals Protocol (VIRTUAL)
VIRTUAL, the native token of the AI protocol on the Base chain, also saw strong accumulation by crypto whales. According to Santiment, addresses holding between 100 million and 1 billion VIRTUAL tokens increased their holdings significantly. On December 12, these addresses held 145,000 tokens, which surged to 6.44 million by December 13, marking an increase of about 6.3 million tokens valued at nearly $15 million. This whale buying helped push VIRTUAL’s price to an all-time high, with trading volume surpassing $220 million. If whales continue to buy, VIRTUAL’s price could surpass $2.30, though increased profit-taking could cause a reversal.
Ondo (ONDO)
ONDO, the token focused on Real World Assets (RWA) tokenization, also attracted significant whale interest this week. On-chain data from IntoTheBlock shows that whale accumulation of ONDO increased by 7.34 million tokens, driving a 17% price surge. Should the trend continue, ONDO’s value could surpass $2. However, if whales or institutional investors start selling, ONDO might drop below $1.
These altcoins have seen substantial whale interest, and their future price movements will largely depend on continued whale buying or potential selling pressure.