Whale activity is on the rise as cryptocurrency heats up. The leading crypto Bitcoin (BTC) also crossed the $ 23 thousand line, boosting morale in the market. Most altcoin projects are enjoying the green zone after that. In this environment, Binance whales are paying special attention to some altcoins.
XRP becomes the most traded altcoin among Binance whales
XRP became the most traded token among the top 100 whales on the Binance Smart Chain (BSC) network. In this move, he left Cardano (ADA) behind. The development comes shortly after XRP finally recaptured the $0.41 price point for the first time since last November. Whale-watching platform WhaleStats recently noted the success. “XRP turned ADA as the most traded token among the top 100 BSC whales,” WhaleStats shared.
Additionally, XRP’s smart contracts represent some of the most used in the last 24 hours. It also contributes 0.55% of the total smart contracts interacted. In addition, XRP accounts for 2.42% of the total assets of the 100 largest BSC whales (excluding BNB). To that extent, they have an estimated $27.8 million worth of XRP in their cumulative balances.
These metrics indicate a surge in investor interest as XRP recently regained the high price point of $0.41 during the market-wide rally that dominated the scene. The asset is also among the most traded tokens on Binance, ranking seventh with a 24-hour trading volume of 59.28M.
Binance whales trade these altcoin projects
Meanwhile, in another post by WhaleStats, it is stated that CAKE’s top 1,000 BSC whales are in the 10th by transaction volume. WhaleStats says that the list also includes Fantom (FTM), Cardano (ADA), Ripple (XRP), Chainlink (LINK), and STEPN (GMT). The whale watching platform shared the following on its Twitter account:
PancakeSwap (CAKE) re-entered the top 10 by trading volume among the 1000 largest BSC whales in the last 24 hours. The list also includes FTM, ADA, XRP, LINK and GMT
Will 2023 change the game for LINK?
Sergey Nazarvo, co-founder of Chainlink (LINK), recently published a blog post highlighting Chainlink’s achievements in 2022, as well as the company’s plans for this year. Nazarvo stated that in 2022, Chainlink provided approximately $7 trillion in transaction value, with the total number of projects in the ecosystem exceeding 1,600.
As mentioned in the blog, Chainlink developers have a lot to work on in the new year. Developers are working to connect all Blockchains into a large interoperable network for both value transfer and smart contract interoperability. In addition, Chainlink is developing a new technology that will have an increasingly significant impact on the functioning of an internet-based society. The technology will make cryptographic guarantees the new minimum standard for most digital transactions and relationships.
The new year starts on a good note for LINK
While Chainlink’s roadmap looks optimistic, LINK’s performance on the price front in the first few weeks of 2023 is also commendable. The bullish market helped LINK green its chart. Thus, it recorded a weekly gain of about ‘3%. At the time of this writing, it was trading at $7 with a market cap of over $3.5 billion. Interestingly, LINK became one of the top 10 purchased tokens among the 4,000 largest BSC whales in the last 24 hours. That’s why it continues to be quite popular with whales lately.
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