Crypto whales, the big players in the cryptocurrency market, have started accumulating four altcoins: Maker (MKR), SSV, Coin98 (C98), and RSS3. This trend has been observed through on-chain data, indicating a potential surge in these altcoins’ value.
Maker (MKR) is a governance token for the MakerDAO and Maker Protocol. SSV is an Ethereum-based token that allows for the creation of a decentralized and distributed network of validators. Coin98 (C98) is a DeFi platform that aims to provide a full-stack solution for DeFi users, allowing them to swap, stake, borrow, lend, and more. RSS3 is an open protocol for decentralized social networks and marketplaces.
Maker, SSV, Coin98, and RSS3 See Increased Whale Activity
The accumulation of these altcoins by crypto whales suggests a strong belief in their potential growth and long-term viability. Whales typically have a significant influence on the market, and their investment activities are often closely watched by other investors. Crypto whales’ activities can be tracked using on-chain data, which provides transparency into transactions occurring on the blockchain. This data has shown an increase in the accumulation of MKR, SSV, C98, and RSS3.
Seven hours ago, the crypto whale identified as “0x9e74” made another withdrawal of 1,226 Maker (MKR) tokens, equivalent to $1.7 million, from Binance. This brings the total amount of MKR withdrawn by this whale from Binance since July 25th to 4,776 tokens, valued at $6.9 million, with each token priced at $1,324.
In a separate transaction, the whale “0xb6a7” withdrew 114,227 SSV tokens, worth $1.93 million, and 2.77 million C98 tokens, valued at $476,000, from Binance just two hours ago. These transactions highlight the significant activity of these whales in the cryptocurrency market.
This trend of accumulation comes amidst a broader context of increasing interest in altcoins. As the crypto market continues to mature, investors are looking beyond Bitcoin and Ethereum to diversify their portfolios. Altcoins like MKR, SSV, C98, and RSS3 offer unique value propositions, making them attractive investment options.
However, it’s important to note that investing in cryptocurrencies carries risk, and investors should always do their own research and consider their risk tolerance before making investment decisions.
