Uptober has here; which cryptocurrencies are whales purchasing?


The cryptocurrency market has a track record of success in the fourth quarter. Investors hope to recover from the annual trading and crypto buying losses in October, often known as Uptober. A lot of randomness and volatility has been going on in the cryptocurrency market as of late.

A list of the top ten digital assets with a market valuation of over $2 billion was published by market intelligence platform Santiment. At the tail end of September, these tokens saw the greatest amount of whale activity. A 456% increase puts injective at the top, while a 59% jump puts optimism in tenth place.

Wrapped Bitcoin (WBTC) comes in at number two, with a 421% increase in whale activity. Third place goes to Shiba Inu (SHIB), which had a 360% rise.

Fourth place goes to MakerDao's DAI, which had a 147% increase. The stablecoin is tied to the US dollar in a 1:1 ratio and has a market worth of $5.3 billion. Pepe (PEPE) is worth $4.5 billion and ranked sixth after a 109% increase.

Ranking seventh, eighth, and ninth, respectively, with 67%, 67%, and 62% market surges, are USDe, Dogecoin (DOGE), and Wrapped Ether (WeETH), the stablecoins created by Ethena Labs.

Aside from these cryptocurrency currencies, investors have started paying attention to airdrops from games like Hamster Kombat that are based on Telegram. There is a lot of interest in the price fluctuations of Bitcoin.

Compared to its all-time high of $73,000, Bitcoin is now trading in a range of $62,000 to $64,000, a decrease of almost 13%. Notably, an inactive Bitcoin whale address with 41 BTC in it has just come back online after being idle for 10.7 years.

In the second phase, new whales transition into retail investors; in the third and final phase, retail investors "hodl" their Bitcoin until they develop into whales.

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