Main navigation

Here Are Four Crypto Assets That Whales Are Actively Buying Right Now

Thu, 08/24/2023 - 11:25
article image
Arman Shirinyan
Altcoins might aim upward in foreseeable future as whales are actively grabbing various digital assets
Here Are Four Crypto Assets That Whales Are Actively Buying Right Now
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

In recent whale activity, approximately 5 million USDT were spent to acquire Ethereum, Lido, Uniswap and Aave. Specifically, the whale purchased 557 ETH at $1,676, 593,139 LDO at $1.69; 413,727 UNI at $4.83 and 17,203 AAVE at $58. This significant investment by a single entity could be a precursor to bullish moves on the crypto market.

The current price of Ethereum stands at $1,667.44. The whale's purchase at $1,676 indicates a close alignment with the current market price, suggesting that the asset is fairly valued at the moment.

Lido is currently priced at $1.69, exactly the same price at which the whale made the purchase. This could indicate that the market agrees with the whale's valuation of LDO.

Uniswap is trading at $4.75, slightly below the whale's purchase price of $4.83. This minor discrepancy could be an opportunity for retail investors to enter at a slightly better price point.

Whale activity often serves as an indicator of future market movements. The recent purchases could potentially lead to bullish trends for these assets. Whales usually have access to extensive market research and insights, which is why their investment moves are closely watched by retail investors.

The fact that a whale is diversifying its portfolio by investing in different kinds of assets — ranging from a leading smart contract platform like Ethereum to DeFi tokens like LDO and UNI — could signify broader bullish sentiment on the crypto market.

Moreover, the whale's investment in these assets could serve as a catalyst for further upward movement, especially if other large investors follow suit. It is worth noting that such significant investments often create a ripple effect, attracting smaller investors and thereby increasing trading volumes, which could further fuel a bullish market.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.