Whales bought these altcoins this week, about to take off?
Litecoin(LTC)
According to IntoTheBlock, whales have processed approximately 3.32 billion mg of Litecoin (LTC). Strong whale activity is one of the reasons why LTC price has increased by 19.86% in the past seven days. Notably, whale transactions account for over 50% of the project’s market capitalization, showing that interest in the token is not artificial. Furthermore, the coin outperforms many other Category 1 projects in this regard.
Currently, LTC is trading at 69 mg. However, if large trades continue to rise, the cryptocurrency’s value may rise even higher in the coming days.
Avalanche(AVAX)
Another altcoin in the group is Avalanche (AVAX), a project known for its speed, scaling and smart contract development. IntoTheBlock shows that whales with holders of between 100,000 and 10 million AVAX have been increasing their balances since June, and they have continued to purchase the altcoin as the price has fallen.
As of this writing, AVAX is trading at 25.21 mg. While it is down 2.21% in the last 24 hours, the 9.56% rise in the last seven days shows the impact of these sharks. If these large investors continue to purchase the token in the coming week, AVAX may recover from its recent decline. Otherwise, its price may remain stable for a while.
FLOKI
Floki (FLOKI), an ecosystem utility cryptocurrency inspired by Shiba Inu, was one of several altcoins that whales bought last week. In the second week of July, Santiment data showed that addresses holding more than 1 billion FLOKI increased their balances. When something like this happens, the expected result is rising prices. This week, FLOKI price rose to 0.00015 mg, but fell by 5.45% in the past 24 hours, meaning the price is back to 0.00014 mg.
