Whales Purpose These 3 Cryptocurrencies: They Hoard them

Have you ever wondered what the big whales invested their money in during this period? Cryptocurrency whales fill their wallets with some coins while waiting for the market to move. From Bitcoin to altcoins, we take a look at what these whales are betting on.

The leading cryptocurrency Bitcoin ranks first!

Bitcoin is first on our list. Latest information from Lookonchain shows that Bitcoin whales are taking advantage of BTC’s recent decline to add to their own assets. Two different wallets recently withdrew a total of 2,000 BTC from Binance, worth approximately $135 million.

Bitcoin whales are accumulating Bitcoin at the same rate they did before the 2020 bull run. Now, this is something to note. Bitcoin whales accumulated a total of 20,600 BTC worth $1.38 billion on June 11. CryptoQuant claims that this is the biggest buying spree from Bitcoin whales since February 28, when Bitcoin moved towards a new high. Meanwhile, Santiment reported that the Bitcoin supply on crypto exchanges has reached its lowest number since December 2021. Santiment stated that wallets holding 10 or more BTC have recently reached levels not seen in two years.

Leading altcoin Ethereum is also on the radar of whales

This month the whale accumulation is all about the heavyweights. Ethereum whales do not sleep. They are also using the time to accumulate ETH assets. On-chain information shows that these crypto whales purchased over 700,000 ETH worth $2.45 billion!

These big players see Ethereum’s recent price drop as a chance to get back into the game. CryptoQuant noted that ETH’s latest buying spree almost matches the record set last September. The interest in ETH comes on the heels of SEC Chairman Gary Gensler hinting at approving spot Ethereum ETFs by the end of the summer during a budget hearing.

cryptokoin.com As you follow from , the market responded with enthusiasm, increasing ETH by 20% in a single day. The news also revived the entire crypto market. Additionally, it added over 200 billion dollars to its total value. Interest from Crypto Whales isn’t the only thing happening with Ethereum. A lot has been happening in Ethereum lately. Ethereum-based applications perform quite well. These applications are becoming valuable players in the crypto market and show how valuable Ethereum is for DeFi.

Last in line is the well-known chest coin Dogecoin.

Whales are also showing interest in Dogecoin, the largest chest coin. According to analyst Ali Martinez, DOGE whale activity is on the rise. On June 7 alone, more than 150 DOGE transactions took place, each valued at more than $1 million. On May 31, these whales accumulated nearly 700 million DOGE, reaching a total of $112 million!

In recent weeks, Dogecoin whales have been busy moving over 6.4 billion DOGE. As a chest coin, Dogecoin’s price can fluctuate depending on trader sentiment, especially when these major players are involved. Buying sprees create bullish vibrations, increasing demand and driving up prices as other traders jump on board. So Dogecoin is a cryptocurrency that should be on the radar.