One of the most important factors that shape the prices in the cryptocurrency market is the movements of whales. Monitoring the buying and selling activities of whales can offer investors earning opportunities. In this article, we will examine the altcoin projects that whales showed interest in in December. Here are 3 altcoins on the whales' radar.
Fantom (FTM)$FTM
Fantom's native token FTM was one of the altcoins that whales showed the most interest in in December. The main reason why whales prefer this token is that Fantom's transition to the Sonic platform will be completed. During this process, Sonic's Shard snapshot is expected to take place on December 1. According to Santiment data, the balance of wallets holding 1 million to 10 million FTM increased from 202 million FTM on November 24 to 208.74 million FTM. This increase shows that whales expect a significant increase in FTM. If whales continue their purchases, the Fantom price is expected to climb to $ 2 in December. However, if purchases stop, the FTM price may fall below $ 1. Investors are watching FTM price movements carefully.
Dogecoin (DOGE)$DOGE
Dogecoin is among the altcoins that whales invested in in December, as in previous months. According to IntoTheBlock data, the net flow of large investors towards DOGE has increased significantly in recent days. This metric measures the difference in value between the coins bought and sold by whales. A negative value indicates that whales are selling more, while a positive value indicates increased purchases. While the amount held by Dogecoin whales was around 642 million DOGE a few days ago, this figure increased to 1.72 billion DOGE in a few days. This shows that whales have accumulated more than $1 billion worth of DOGE in a short time. If purchases continue, the Dogecoin price may continue its upward trend in December. However, if purchases stop, DOGE may lose value.
Optimism (OP)$OP
Optimism (OP), an Ethereum-based Layer-2 solution, is another altcoin that has caught the attention of whales. Although OP did not experience a major development process in December, the expectation of an increase in the price of Ethereum may be the main reason whales prefer this coin. Historical data shows that OP gains more value as the price of Ethereum increases. According to Santiment data, the balance of wallets holding 10 million to 100 million OP has also increased significantly recently. If this trend continues, the OP price could reach $4 in December. However, if purchases stop, the price of OP risks falling below $2.
While these three altcoins attract attention with the interest of whales, their price movements are also being watched carefully. Investors continue to evaluate opportunities in parallel with the purchases of whales.