Five Assets to Watch as Their Whale Transactions Have Risen
Whale transactions are a very important metric to keep an eye on when it comes to upcoming price turnarounds. This is particularly useful during long bear or bull market stretches. And with markets now on the brink of eclipsing eight months since the bull market/ all-time high glory days, traders are undoubtedly getting impatient while whales are showing signs of striking.
Below is a list of five assets to watch due to their high upticks in the amount of $100,000+ transactions showing on their respective networks:
Whale transactions picked up in a big way for Litecoin about six weeks ago, happening in tandem with a major rebound of just under +50%. Even now, transactions are happening at a much faster rate than they were in the first half of June.
The past week has been a return to a few big spikes of $100k+ transactions for Serum. Whales seem to be taking much more interest in accumulating on bottoms, and not interacting much on SRM price rises, which is a promising sign of them being most interested in adding on to their bags.
Binance USD ($BUSD):
Whale transactions can be relevant for stablecoins as well, as this is indicative of buying power fluctuating. And for the world's largest exchange, Binance's native token is seeing an uptick in action, similar to the spike that occurred the third week of June when crypto-wide prices were enjoying a mini rebound.
Convex's massive spike in whale transactions came in a huge bunch one week ago. And since this initial spike, the price of CVX is +35%.
Curve DAO Token ($CRV):
Curve has been a trending subject throughout June and early July. Similar to CVX, it began seeing month-high whale transaction spikes as the price began to really kick off last week. Since its big initial spike on July 1st, CRV's price is +37%.
Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.
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