Crypto Whales Amass These 3 Altcoins as May Looms Near

Key Takeaways

ONDO tops the chart, having amassed more than 27.8 million tokens, which is linked to the anticipated discussions between the project and the SEC regarding tokenization.
This week, Polygon whales obtained 50 million tokens, which caused the price to increase by almost 30%, even though there were no significant new developments announced.
There was an increase in major Chainlink transactions, which rose from 150 to 211 within a short period of time, coinciding with a surge in price from $12.50 to $15.

Over the past few weeks, the cryptocurrency market has stabilized, and as part of this rebound, major investors have been methodically amassing certain alternative coins.

Historically, when whales buy large volumes of specific cryptos, price increases are triggered. But this only happens as long as selling pressure doesn’t take over.

As the initial month of the second quarter comes to an end and May looms ahead, the query persists: Which alternative cryptocurrencies are big investors acquiring?

This analysis explores the leading three altcoins attracting the interest of whales as identified by Cryptonesia. It further investigates potential price movements for these cryptocurrencies.

Ondo (ONDO)

In terms of market capitalization, ONDO holds the 31st position among cryptocurrencies and leads the list of alternative coins thatcrypto whales are amassing.

As reported by IntoTheBlock, the net flow of tokens held by major investors in the altcoin dropped by 2 million on Wednesday, April 23. This indicator reflects the variation between the quantity of coins entering and leaving the possession of these significant stakeholders. whales are buying and selling.

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A positive net flow suggests that whales are buying more tokens. Conversely, a negative value points to increasing selling pressure from major players. Currently, as per the latest data, ONDO’s big investors have seen their net flow jump up to 27.8 million.

Given the present valuation, it indicates that cryptocurrency giants have amassed tokens valued at more than $25 million in just the past three days. According to Cryptonesia’s research, it appears that these large holders are purchasing the alternative coin because of expectations for a favorable result from Ondo Finance's tokenization discussion with the U.S. Securities and Exchange Commission.

Mirroring this increasing optimism, ONDO's price has skyrocketed to $1, negating the previous assumption. bearish bias That had formerly encircled the token.

Therefore, should the large holders of cryptocurrencies keep exerting purchasing pressure on digital assets, ONDO’s value could potentially approach $2 by May.

Nevertheless, if the SEC declines the proposal, project's proposal to tokenize In some cases involving U.S. financial assets, this may not apply. Consequently, ONDO's market value could undergo a significant adjustment.

Polygon (POL)

The second cryptocurrency on the list that crypto whales are amassing is POL. This altcoin, formerly recognized as MATIC, has experienced a price surge of almost 30% over the past week.

Based on the information from Santiment, the recent increase in POL’s price was fueled by heightened whale accumulation. On April 20, wallets with more than 1 billion tokens collectively held 7.50 billion POL.

Today, that figure has risen to 7.55 billion, indicating that whales acquired 50 million tokens just this week. Given the present pricing, this represents an investment exceeding $12 million.

Even though there aren’t any significant updates expected from the Polygon team, this increase indicates that large investors think POL might have reached its lowest point.

Should this gathering trend persist, the token might approach $0.50 within the coming month. Conversely, should the purchasing momentum weaken, the value could stabilize or potentially experience a downturn.

Chainlink (LINK)

Finally, crypto whales have shown interest in purchasing Chainlink (LINK) ahead of what they believe will be a more optimistic quarter. According to IntoTheBlock’s statistics, this is indicated by an increase in substantial transaction volumes on the network.

Initially at the beginning of the week, only 150 significant transactions occurred with Chainlink (LINK). This figure has surged to 211, indicating increased involvement from major investors.

Over the same period, LINK’s price climbed From $12.50 to $15, reflecting the effect of heightened demand. Should this purchasing pattern persist, LINK’s market capitalization might rise further still.