Crypto Whales Prepping for Altcoin Surge
YEREVAN (CoinChapter.com) — CryptoQuant founder Ki Young Ju observes that crypto whales are prepping for an upcoming altcoin rally, sparking discussions about the start of alt season. He based his analysis on the 1-Year Cumulative Buy/Sell Quote Volume Difference for Altcoins. This metric tracks the difference between buy and sell limit orders over the past year.
Ju explained that whales use limit orders to minimize slippage. The increasing metric indicates a growing number of buy-limit orders from large crypto investors and institutions. These “strong buy walls” suggest a rising future demand for altcoins as crypto whales prep for the possibility of the upcoming surge.
The Buy/Sell Quote Volume Difference for Altcoins metric. Source: CryptoQuant Founder Ki Young Ju
According to the CryptoQuant founder, certain altcoins are poised to benefit from the growing level of future buy orders. These altcoins include Solana (SOL), Polygon (MATIC), Cardano (ADA), Cosmos (ATOM), PancakeSwap (CAKE), My Neighbor Alice (ALICE), Ampera (AMP), Ankr Protocol (ANKR), and Chilliz (CHZ). These tokens are expected to see significant interest from investors, reflecting a strong future demand.
Altcoin Surge Insight. Source: @Crypto_TownHall XRP and Chainlink Struggle Amid Rising Interest in Solana, Polygon, and Cardano
While Solana, Polygon, and Cardano see increased interest, XRP and Chainlink are not experiencing the same level of buy orders. Despite XRP’s long-standing presence in the market, the ongoing legal issues with the SEC may be influencing its momentum. Chainlink, with its decentralized oracle network, also shows limited movement.
A breakdown of which altcoins stand to benefit the most. Source: CryptoQuant founder Ki Young Ju Jamie Coutts Predicts Altcoin Rally Based on Market Index
Crypto analyst Jamie Coutts recently shared a similar prediction for the altcoin market. He pointed to the Top 200 Equal Weight Index as a sign that the market has hit bottom, suggesting a possible rally in altcoins.
This index measures the price performance of the top 200 altcoins by market capitalization and compares it to Bitcoin’s performance. A lower reading indicates that only a few altcoins are outperforming Bitcoin percentage-wise, while a higher reading means more altcoins are doing better than Bitcoin.
At the time of Coutts’s prediction, the metric was in the 10-20% range. This range suggests that a moderate number of altcoins are starting to outpace Bitcoin, hinting at a potential rise in the altcoin market.
Altcoin Market Breakout. Source: Mags
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