The moves of crypto money whales are always one of the items that attract attention in the market. We can see the wallets and purchases of whales thanks to on-chain data. So, what’s been in the focus of whales lately? Here is the latest data…
What is the focus of big investors in the cryptocurrency market?
The cryptocurrency market is moving forward and the optimism in January caused whales to start accumulating altcoins rather than launching them. Recently, Cardano (ADA) and Polygon (MATIC) have emerged as some of the most accumulated assets by large investors. Last week, WhaleStats reported that ADA is the most traded token among the top 100 BSC whales. Additionally, the Ethereum rival smart contract platform also stands out among the top 1,000 traders on the Binance network in use.
As for the Layer 2 space, besides seeing its token experience significant accumulation, it has become one of the most important assets held by the top 500 Ethereum investors and has had a period of massive whale transactions. According to the Whale Alert Twitter profile, a single whale moved around $50 million on MATIC. But with the recent crypto market correction, what could be driving whales’ interest in these altcoins?
The first coin in the focus of whales: Cardano
cardano, cryptocoin.com As we reported, Djed stands out with the launch of its stablecoin. This was one of the most anticipated events for the ADA community and it finally paid off. Immediately after launch, DJED had no trouble filling its warranty case. For example, the stablecoin managed to attract over 29 million ADA tokens and achieved a 643 percent coverage ratio over 800 percent. Given that a stable asset is critical to the growth of a project in decentralized finance (DeFi), the success of this stablecoin may have impacted the purchases of large investors.
DJED may be influencing Cardano’s total locked value (TVL) as the altcoin’s TVL has increased 39 percent since its launch. Other developments, such as the arrival of the mainnet of Liqwid, a decentralized platform that provides liquidity solutions for interest rate curves, may justify whales’ attention. As a liquidity protocol with no need for intermediaries, users can join the platform as lenders, liquidity providers, or secured perpetual borrowers.
In addition, Cardano is expected to undergo an update that will bring new features integrated into the Plutus smart contract programming language. Most important will be the introduction of native support for Schnorr signatures and the Secp256k1 curve (used in Bitcoin and Wanchain). This could make the ADA Blockchain more interoperable with networks using these signatures.
Polygon is also featured
Polygon stands out for its major partnerships, as it recently did with Doritos to create NFTs for Doritos Triangle Studios, a virtual concert venue. The Layer-2 platform also underwent a hard fork in January that improved the performance of its network and further refined its gas fee system. The MATIC network is also preparing for the arrival of zkEVM, the first open source zk-Rollup to offer users a seamless experience without sacrificing security.
zkEVM will have full compatibility with the Ethereum Virtual Machine (EVM), allowing users to experience the industry-leading smart contract platform with ease. As a result, the recent accumulation of Cardano (ADA) and Polygon (MATIC) by major investors highlights the growing interest in these altcoins.
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