{"id":810617,"date":"2024-12-07T10:18:18","date_gmt":"2024-12-07T16:18:18","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/07\/crypto-whales-bought-these-altcoins-in-the-first-week-of-december-2024\/"},"modified":"2024-12-07T10:18:18","modified_gmt":"2024-12-07T16:18:18","slug":"crypto-whales-bought-these-altcoins-in-the-first-week-of-december-2024","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/07\/crypto-whales-bought-these-altcoins-in-the-first-week-of-december-2024\/","title":{"rendered":"Crypto Whales Bought These Altcoins in the First Week of December 2024"},"content":{"rendered":"
\n

In the first week of December 2024, crypto whales actively made significant moves, purchasing up a diverse range of altcoins. This buying spree reflects their growing confidence in these cryptocurrencies, likely fueled by favorable macroeconomic conditions or speculative opportunities.<\/strong><\/p>\n

As these whale activities continue to shape the market, here are the top three altcoins they purchased this week.<\/p>\n

Worldcoin (WLD)<\/h2>\n

Worldcoin leads the altcoins<\/a> crypto whales purchased this week. According to IntoTheBlock, the WLD\u2019s large holders\u2019 netflow, which measures the difference between the number of tokens whales bought and sold, was negative on December 4.<\/p>\n

However, today, that figure has increased to 57.25 million, indicating that crypto whales accumulated Worldcoin in large volume.\u00a0
At the current price, this accumulation is worth approximately $220 million. It appears that these notable purchases\u00a0impacted Worldcoin\u2019s price,\u00a0which increased by 35% to $3.86.<\/p>\n

\"Worldcoin
Worldcoin Large Holders Netflow. Source: IntoTheBlock <\/a><\/figcaption><\/figure>\n

If whales continue to buy the altcoin, WLD could climb toward $5. However, a rise in large holders\u2019 selling could\u00a0invalidate the prediction<\/a><\/span> and lead the price down.<\/p>\n

Mantle (MNT)\u00a0<\/h2>\n

MNT, the native token of the layer-2 network on Ethereum Mantle, is part of the altcoins crypto whales bought this week. The decision to buy MNT<\/a> could be linked to the performance of ETH.<\/p>\n

Historically, when Ethereum\u2019s price rallies, other altcoins linked to it tend to perform better. So, it was not surprising that Mantle\u2019s price climbed to $1.23 during the week. Based on BeInCrypto\u2019s findings, this development could also be linked to the notable accumulation of whales.<\/p>\n

\"Mantle
Mantle Balance of Whale Addresses. Source: Santiment <\/a><\/figcaption><\/figure>\n

According to Santiment, Mantle addresses holding 10 million to 100 million tokens increased their balance by over $4 million this week. Thus, if the balance of these addresses continues to rise, so will MNT\u2019s price. On the other hand, a decrease<\/a> in their holdings could draw the price further down.<\/p>\n

Bitcoin Cash (BCH)<\/h2>\n

Bitcoin Cash<\/a>, the 2017 hard fork of Bitcoin, is also one of the top altcoins crypto whales purchased this week. According to IntoTheBlock\u2019s data, the large holders\u2019 netflow dropped significantly on December 4.<\/p>\n

But as of this writing, it has increased to 56,830, indicating that crypto whales purchased $33.70 million worth of the altcoin. This development could be linked to\u00a0Bitcoin\u2019s price increase<\/a>\u00a0to $100,00, especially as the fork of the number one cryptocurrency has a strong correlation with it.<\/span><\/p>\n

\"Bitcoin
Bitcoin Cash Large Holders Netflow. Source: IntoTheBlock<\/a> <\/figcaption><\/figure>\n

Going forward, if BTC continues to rise, then Bitcoin whales might continue to purchase more of the cryptocurrency. In turn, this could drive BCH prices higher<\/a>. However, if crypto whales decide to lower their buying power, this might not happen.<\/p>\n

\n

Disclaimer<\/p>\n

In line with the Trust Project<\/a> guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our\u00a0Terms and Conditions<\/a>,\u00a0Privacy Policy<\/a>, and\u00a0Disclaimers<\/a>\u00a0have been updated.<\/p>\n<\/div><\/div>\n

Read More<\/a>
\n Victor Olanrewaju<\/p>\n","protected":false},"excerpt":{"rendered":"

In the first week of December 2024, crypto whales actively made significant moves, purchasing up a diverse range of altcoins. This buying spree reflects their growing confidence in these cryptocurrencies, likely fueled by favorable macroeconomic conditions or speculative opportunities. As these whale activities continue to shape the market, here are the top three altcoins they<\/p>\n","protected":false},"author":1,"featured_media":810618,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22791,22583],"tags":[],"class_list":["post-810617","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","category-whales"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/810617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=810617"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/810617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/810618"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=810617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=810617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=810617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}