LTC, ETH and MATIC: what whales were buying last week
The cryptocurrency market showed strong growth this week, with the capitalization of digital assets increasing by 4% over the past 7 days.
Among the coins that experienced a surge of interest from large investors this week were Litecoin (LTC), Ethereum (ETH) and Polygon (MATIC). If historical data is taken into account, the whales' actions could be the catalyst for a massive rise in the price of these tokens.
Polygon (MATIC)
MATIC has attracted significant attention from whales this week as holders prepare for the upcoming migration to POL, scheduled for September 4. In anticipation of this event, the token has surged 33%, making it the most profitable asset among the top 100 cryptocurrencies over the past 7 days.
The double-digit growth attracted the attention of large investors, with the number of whale addresses holding between 1,000,000 and 100,000,000,000 MATIC reaching a one-month high of 316.
Litecoin (LTC)
According to data from analytics platform IntoTheBlock, the net inflow of large Litecoin holders has increased by 141% over the past 7 days. Addresses with a balance of more than 0.1% of the asset's current supply fall into this category. Net inflows track the difference between purchases and sales of these wallets.
The rising figure signals growing optimism among large investors, indicating the potential for a rally. At the time of writing, LTC is trading at $64.08. If the accumulation continues, the price could rise above $70, potentially reaching $73.87.
Ethereum (ETH)
Despite strong resistance at the $2,700 price level, Ethereum whales continue to increase their inventory. According to Santiment, the number of addresses with balances between 10,000 and 100,000 ETH, reached 1,008, the highest level in a month.
The steady accumulation shows that large holders remain optimistic about the future of ETH, even despite the unimpressive dynamics of the last few days.