Crypto whales purchased Litecoin (LTC), Polygon (MATIC), and Avalanche (AVAX) in the second week of August. These purchases made a noticeable impact despite some market volatility.
Litecoin (LTC)$LTC
At the top of the list is Litecoin (LTC), known as a lightweight version of Bitcoin. According to IntoTheBlock, net flow among large holders of LTC has increased significantly over the past seven days. Large holder net flow tracks the activity of addresses that hold 1% or more of the total circulating supply. This increase suggests that whales are accumulating more LTC than they are selling, which could have a positive impact on the price. Currently trading at $65.50, LTC has gained 8.82% in the past week. If whales continue their buying momentum, the price of LTC could rise even higher.
Polygon (MATIC)$MATIC
Another altcoin that has caught the attention of crypto whales is Polygon (MATIC). According to data from Santiment, Bitcoin whales continue to accumulate MATIC. In particular, there has been an increase in addresses with 100,000 to 1 million tokens and addresses with 10 million to 100 million tokens. These purchases may have increased buyer interest ahead of MATIC’s POL transition on September 4. However, MATIC’s price has fallen by 4.72% this week. This suggests that there has not been a major price increase yet.
Avalanche (AVAX)$AVAX
The latest addition to the list is Avalanche (AVAX). Major holders of AVAX saw a 36% increase in net flow. However, the price of AVAX fell by 3.18% in the last 24 hours. This decline could be related to the token unlock scheduled for August 19. Token unlocks usually increase the circulating supply, leading to a temporary price drop. However, if whales continue to accumulate tokens post-unlock, the price of AVAX could stabilize and potentially see a recovery.
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