Top Altcoin Picked up by Crypto Whales for August 2024
In the first week of August 2024, crypto whales heavily invested in XRP, Cardano (ADA), and Ondo (ONDO), while Bitcoin whale activity reached its highest level since 2014.
XRP (Ripple)
XRP saw significant whale activity following the settlement of its four-year-long SEC lawsuit. Wallets holding between 1 million and 10 million XRP now account for about 15% of the total supply. As of now, XRP is trading near $0.6, with a 7-day growth of 4.70%. The positive momentum may push it above $0.62 in the coming week.
Cardano (ADA)
ADA recovered from $0.29 to $0.347 by August 5. Whales took advantage of this dip, with addresses holding 1 million to 10 million ADA now contributing to 16% of the supply. Although the market sentiment is mixed, a potential rally could occur after some initial downtrend.
Ondo (ONDO)
ONDO rebounded on August 5, currently trading at $0.761 with a 7-day growth of 4.59%. The number of large holders has increased by 3000%, suggesting more buying than selling. If the market remains favorable, ONDO could see further gains, potentially reaching $1.
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