$HBAR, $BONK, and $XRP are in the news as more assets are entering the accumulation phase. A report from Phoenix Group highlights the ten assets today experiencing what can be described as the accumulation phase. This phase is where high trading volumes are witnessed, which suggests the involvement of institutional investors or retail traders preparing for directional moves.
MOST RECENT ASSETS IN THE ACCUMULATION PHASE $HBAR $BONK $POLYX $STG $PROS $OKT $XRP $NEO $NOT $FLOKI pic.twitter.com/iLtCPGYfIG
— PHOENIX – Crypto News & Analytics (@pnxgrp) November 19, 2024
In the accumulation phase, the prices are quite stable since most large-scale buyers act strategically to buy massive quantities of assets to indicate that the breakout may be around the corner.
Major Players in the Spotlight: Hedera, Bonk, and Polymesh
Out of the listed ten assets, Hedera or $HBAR has received much attention for its access to the Hashgraph consensus that enables a fast, secure, and sustainable transaction. With a market capitalization of $5.34 billion, activity in $HBAR’s recent period of one-day accumulation suggests that it has received attention again, most probably from institutions that see its enterprise value.
On the other hand, Bonk (BONK), a memecoin, has been an outlier, commanding a $3.83 billion market cap. But while it began as a meme, the fact that it stockpiled shows that it has attracted the attention and investments of the crypto community, thus pointing towards a potential shift in sentiment and speculation.
Another key player, Polymesh (POLYX), aims to develop regulated institution-friendly blockchain solutions, which have a market cap of $299.75 million and an accumulation period of 1 day; there is interest in its compliance finance domain.
Rising Stars: Stargate Finance, Prosper, and OKT Chain
A DeFi asset, Stargate Finance (STG), is on the rise, with a total market capitalization of $66.33 million and a one-day accumulation period. This trend suggests the rise of the popularity of such DeFi applications that are designed to change the existing financial industry.
Another similar blockchain-based prediction market platform, Prosper (PROS), also experienced an increase in accumulation with a $32.71 million market capitalization. This new movement shows signs of optimism in the future of the predictive markets, which spiked up in popularity in the wake of decentralized finance.
With a market cap of $159.73 million, OKT Chain (OKT) is in a 48-hour accumulation period. Being a scalable blockchain that facilitates future cross-chain communication, which is a growing necessity in the developing crypto universe, OKT Chain has the potential to define its place among developmental patterns.
Established Assets: XRP, NEO, and Notcoin
XRP, one of the most recognized cryptocurrencies with a market capitalization of $ 62.57 billion, is in the three days of accumulation. This indicates a positive outlook in its ongoing legal cases and is forward-looking on future expansion.NEO, commonly known as ‘Chinese Ethereum’, is not left behind with a market capitalization of $902.9 million.
The remaining assets that record notable trading volume encompass Notcoin (NOT), which has a market capitalization of $806.54 million and also experiences a three-day accumulation period.
Floki (FLOKI), one of the most trending meme coins, is currently in a four-day accumulation phase, and its market capitalization is $2.41B. The accumulation phase could signal an impending price movement as crypto remains invested in memes and community projects.
What the Accumulation Phase Means for the Future
The accumulation phase is a leading indicator, indicating where the market is at different stages before significant price fluctuations. These ten assets, such as $XRP, $NEO, $HBAR, Stargate Finance Prosper, and others, are set for possible upswings. All investors and traders should look out for these assets since the accumulation phase is usually the starting mark of a great run.
