The post Crypto Whales Are Buying These 4 Altcoins: Bullish Breakouts on the Horizon appeared first on Coinpedia Fintech News
As Bitcoin (BTC) price struggles to reach $100k, the altcoin industry, excluding Ethereum (ETH), has been gaining bullish momentum in the past few weeks. The rise of Ripple Labs-backed XRP to the third most valuable cryptocurrency by market cap has reminded investors of the high volatility in the altcoin space.
Already, the TOTAL3, which tracks the altcoin’s market cap excluding Ether, has retested its all-time high of about $1.1 trillion. Consequently, more retail and whale investors have been rushing to mid and small-cap altcoins with great bullish potential for higher returns.
Top Altcoins Likely to Register Bullish Breakout Soon
Curve DAO (CRV)
According to the on-chain intelligence platform Santiment, Curve DAO (CRV) is one of the mid-cap altcoins that have registered a huge proliferation of whale investors. From historical data, Santiment highlighted that altcoins that experience a sharp uptick in whale activities often registered a significant increase in overall volatility.
The mid-cap altcoin, with a fully diluted valuation of about $2 billion and a daily average traded volume of over $1.2 billion, surged over 50 percent in the past seven days to trade about 77 cents on Tuesday, December 3, during the early European session.
Memecoin (MEME)
Memecoin (MEME), a fast-growing NFT-oriented memecoin ecosystem backed by the 9GAG community, has registered a plethora of whale traders in the recent past. The Binance-listed memecoin, with a fully diluted valuation of about $1.1B and a daily average traded volume of around $241M, takes price in nearly 1 million on-chain holders.
From a technical analysis standpoint, the MEME price has been forming a macro reversal pattern after being trapped in a correction phase in the last few months. In the past 24 hours, MEME price surged over 6 percent to trade at about $0.0164 at the time of this writing.
LayerZero (ZRO)
LayerZero (ZRO), a fast-growing interoperability protocol that connects blockchains, has registered huge growth in the recent past. As a result, the ZRO token has attracted notable attention from whale investors.
According to the latest data, ZRO had a market cap of around $688M and a daily average traded volume of over $790 million. The mid-cap altcoin recently broke out of a multi-week consolidation to enter its price discovery phase.
Trust Wallet (TWT)
Trust Wallet (TWT), a web3 wallet backed by Binance exchange, has grown to millions of global users in the recent past. The native token, TWT), has been forming a macro-bullish pennant, amid rising demand from whale investors.
The mid-cap altcoin, with a fully diluted valuation of around $1.3B and a daily average traded volume of about $66M, surged over 11 percent in the last 24 hours to trade about $1.3 at the time of this writing.