The market is picking up, and giant whales are making frequent moves
Cryptocurrency markets saw some growth as the second week of September came to an end, with global market cap rising by 3% in seven days. This wave of market optimism has attracted a large amount of capital inflows, and the "giant whales" of the crypto market have also taken advantage of this opportunity and begun to accumulate three specific currencies: Telegram-related Toncoin ($TON), the mainstream currency Ethereum ($ETH) ) and the artificial intelligence-driven Artificial Superintelligence Alliance ($FET).
The activity of these three currencies in the market has gradually increased, attracting the attention of many large capitals, and according to data, giant whales are increasing their holdings of these currencies on a large scale.
Toncoin（$TON）
Potential coins endorsed by Telegram
Toncoin ($TON) has received a lot of attention from whales this week, especially after Telegram CEO Pavel Durov drew attention due to the incident in France, and the price of the coin continued to rise. Toncoin has surged 16% in price during the week and is currently trading at $5.55, leaving many holders with handsome profits.
Data shows that the number of whale addresses holding 1,000 to 100,000 $TON reached 1,219, the highest point in the past 30 days. The accumulation of holdings by these large investors shows the market’s increasing confidence in Toncoin and indicates that the coin may have more room to rise.
Source: Santiment’s number of whale addresses holding 1,000 to 100,000 $TON
Ethereum ($ETH)
Whales defy price headwinds
As one of the most watched mainstream currencies, Ethereum ($ETH) saw whale net flows grow by 109% this week. Despite Ethereum facing resistance at the $2,386 price level, whales have chosen to make massive accumulations. This shows their expectation that market sentiment will turn optimistic in the future.
Ethereum has now managed to break above the $2,400 resistance and may continue to rise and challenge the highs of $2,783. This wave of accumulation of holdings implies that the whales are confident in the future trend of Ethereum. Regardless of short-term market fluctuations, they expect that the currency will usher in a new round of gains.
Artificial Superintelligence Alliance（$FET)
Hot topics driven by AI
AI-powered crypto asset Artificial Superintelligence Alliance ($FET) has also received attention from the market this week, with its price growing by 25% in a week. The growth comes in part from news that OpenAI plans to raise $6.5 billion in new funding, further fueling demand for AI-related crypto assets.
Santiment data shows that the number of whale addresses holding 10,000 to 1,000,000 $FETs has grown by 11% and currently stands at 763, a record high. This shows that the market's confidence in AI-related crypto assets is increasing, especially in the context of the rapid development of artificial intelligence technology, FET has become a popular target in the eyes of investors.
Image source: Santiment’s number of whale addresses holding 1,000 to 100,000 $FEI
Giant whales continue to increase their holdings, and the crypto market may usher in a new wave of market trends
As the second week of September comes to an end, optimism is spreading in the crypto market and the above-mentioned coins are finding favor with whales. The accumulation of holdings by these giant whales not only shows their confidence in these currencies, but also hints at a new wave of rising prices that the market may usher in in the future.
As the market continues to pay attention to these currencies, future price trends will be worthy of close observation, especially when the global market picks up further, these currencies may become the main beneficiaries of a new round of gains.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
