TL;DR
In the last week, Cronos, AAVE, and Toncoin have registered a notable increase in transactions by large investors or whales, suggesting a potential rise.
Cronos (CRO) experienced a 255% increase in whale activity, driven by the launch of the zkEVM public mainnet and new strategic partnerships.
Toncoin (TON) surpassed one billion USDT locked, and Aave (AAVE) continues to consolidate on Optimism and Polygon, despite recent price declines.
In the last week, cryptocurrencies such as Cronos (CRO), Arbitrum (ARB), Aave (AAVE), and Toncoin (TON) have recorded a substantial increase in transactions carried out by large investors, commonly known as whales.
This group of investors usually has a considerable impact on the liquidity and price of assets due to the magnitude of their holdings. According to recent data, these three cryptocurrencies have caught the full attention of several whales and could be on the verge of a strong bullish trend.
Keep an eye on the following crypto projects seeing major boosts in whale transactions in the past week (compared to their whale activity the prior week):
1) @cronos_chain $CRO +255% 2) @aave $AAVE (On Optimism) +100% 3) @ethena_labs $USDe +82% 4) @makerdao $DAI… pic.twitter.com/LvxNRJVZmF
— Santiment (@santimentfeed) October 7, 2024
Cronos: The Whales’ Favorite
Cronos, the native token of the Cronos chain, has been one of the biggest beneficiaries, with a 255% increase in whale transaction activity. This growth has been partly driven by some events in its ecosystem, such as the launch of the zkEVM public mainnet in August, which marked a significant advancement in the project’s development.
Additionally, Cronos’ partnerships with Pyth Network, Earn Network, and Zyfi have strengthened its position in the market, as reflected in the growth of the Total Value Locked (TVL) of the network. Although the price of CRO has fallen by 7% in the last 24 hours, the increase in its trading volume and the overall activity in the ecosystem could indicate a positive change in direction in the short term.
Bad Day and Good Expectations
For its part, Toncoin (TON) has also attracted attention after surpassing one billion dollars in USDT locked, positioning it as the sixth-largest blockchain in this regard. Despite a slight drop of 1.6% in its price, the Toncoin ecosystem continues to show signs of growth, especially with the increase in new addresses and transactions on its decentralized exchanges. This, along with the emergence of mini-games within its blockchain, has led analysts to project a possible rebound in its value.
Aave (AAVE), which has experienced a notable increase in whale activity on both Optimism and Polygon networks, has shown solid performance in recent weeks. While its price has fluctuated and fell by 4.5% during the last day, the interest from whales suggests that it could reach new levels in the near future, consolidating itself as one of the main DeFi projects in the market.
Finally, Arbitrum (ARB) recorded a 25% increase in whale activity. According to Coinmarketcap, ARB also had a negative day, with its price dropping by 4.26%, reaching $0.5447
