Cody Buffinton, the seasoned crypto analyst and host of Altcoin Buzz, has shed light on a noteworthy shift in the crypto landscape. Several altcoins seem to capture their attention as crypto whales accumulate in force.
Let’s get into which tokens are making a splash.
Chainlink
Chainlink (LINK) is turning heads, especially with a significant 9.2% price rise in a week. This uptick is no accident. Over a short span, a staggering 755,000 LINK tokens have been snapped up, amounting to an impressive 5 million. So, what’s the appeal? Chainlink boasts an impressive history and a compelling value proposition as a decentralized Oracle network.
This network provides essential data for renowned projects such as Aave, Synthetix, and DeFi aggregators like Yearn Finance. With its current trading value at a mere $7.48, far from its all-time high of $52.88, many speculate that this is a golden opportunity for potential gains.
In line with this, prominent on-chain analyst Ali Martinez noted a surge in LINK holdings by investors, signaling a bullish trend. Furthermore, Santiment data indicates that the rich and the average Joe are hopping onto the LINK train, though the latter may not heavily influence short-term prices.
Curve DAO
Amidst the rumbling crypto currents, CRV emerges as another favorite. Recent data highlights an impressive 12% price surge and a whopping 50 million CRV tokens, valued at $27 million, changing hands.
A single whale shifted a vast 19.56 million CRV from Binance in three days. This crypto heavyweight also displayed unwavering faith by staking their entire CRV holding on Convex. Despite a challenging bear market backdrop, CRV’s resilience and potential shine bright.
Arbitrum
Even amidst the massive price volatility, Arbitrum’s potential remains undoubted. Chainlink’s recent integration with Arbitrum added a significant feather to its cap. Further proof? A leading whale scooped up a massive 2.28 million ARB tokens, an investment close to $1.86 million.
The slight dip in ARB’s value didn’t deter its allure, as it saw a rebound, attracting numerous buyers. ARB’s unique features, catering to the Ethereum ecosystem, present a promising future. At the time of writing, ARB is exhibiting some mildly bullish solid signals.
