Crypto Whales’ Top Altcoin Picks for the Fourth Week of July 2024
The post Crypto Whales’ Top Altcoin Picks For The Fourth Week of July 2024 appeared first on Coinpedia Fintech News
While we watch the crypto market momentum shift to bullish, whales have been acquiring Arbitrum, XRP, and Ondo. There is a significant purchase volume that, if continued could make these cryptos strand ahead in the anticipated altcoin season.
Whales Pick Arbitrum Despite In Downturn
This comes as a shock that Arbitrum is on the list of Whales’ favorite coins. It could be the impact of Ethereum ETF, Arbitrum being the layer 2 blockchain of Ethereum.
At the time of writing ARB price is $0.7204 with 24hr growth of 3.18%. Although, this is just a fling, as the ARB performance to YTD is down nearly 58%.
The ARB coins collective forecasts do not represent a good run, but whales have shown huge interest in this altcoin, The data from IntoTheBlock reveals an increase of 870% in the last 7 days in the large holders’ netflow.
This metric show range shows the difference between large holders’ inflow and outflow. A result in the positive range says that inflow is higher than outflow. This also means that investors are not selling the asset and accumulation has increased.
This comes as a surprise how Arbitrum at this condition comes on this radar, the ETH ETF must have been triggering the idea of investing in Ethereum blockchain-related projects.
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