Fresh Whales Are Accumulating AAVE, Fetch.ai (FET) and These 2 Altcoins

According to the on-chain analytics platform LookOnChain, some large whale wallets have been accumulating 4 altcoins recently – AAVE, Maker (MKR), Immutable X (IMX), and Fetch.ai (FET).

Specifically, an address starting with 0x04e9 withdrew 47,096 AAVE worth $4.7 million and 2,251 MKR worth $3.18 million from Binance 10 hours ago. This shows a wealthy crypto investor sees value in these two decentralized finance coins at current prices.

Additionally, 3 fresh wallets funded from the same parent address withdrew a total of 2.57 million IMX worth $6.33 million from Binance 12 hours ago. This also signals confidence in IMX’s future growth potential.

Finally, address 0x6e8c withdrew 1.57 million FET worth $1.13 million. FET powers the Fetch.ai decentralized machine learning network, which has seen increasing adoption recently.

Interestingly, despite these large altcoin purchases by whales, prices of these 4 cryptocurrencies were relatively flat over the weekend, with modest 1-2% drops at most. This means the whales were able to accumulate substantial positions without significantly moving prices up.

The purchases signal long-term conviction in these coins from wealthy crypto investors. With fresh capital flowing into them while prices hold steady near recent lows, AAVE, MKR, IMX, and FET could be gearing up for their next leg higher. We’ll be keeping an eye on their price action this week to see if the whales’ bets pay off.

You may also be interested in:

We recommend eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Active user community and social features like news feeds, chats for specific coins available for trading.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo