Cryptocurrency whales are literally pouring millions of dollars into these 3 altcoins. If you’ve been into crypto for a while, you already know that ‘Whale accumulation’ is followed by massive price spikes. But could this just be a pump dump or is this about to be a big thing around altcoins that crypto whales know about but you don’t know yet? Crypto expert Lawrence Mike Woriji seeks to answer that question.
Cryptocurrency 3: Polygon (MATIC)
Polygon is no stranger to most portfolios. So it’s no surprise that whales go crazy about it. But why Polygon? Many of you may ask. The answer may seem very simple. Polygon has one of the most complete DeFi ecosystems. Also, this Blockchain has an impressive use case that makes it worth considering. So why are whales accumulating Polygon now and you should do the same?
1) Partnerships with Web2 giants
cryptocoin.comPolygon has several partnerships with web2 companies, including Mastercard and Samsung. This collaboration gives it real-world usability. Reddit also decided to launch their NFT on Polygon, taking advantage of its cheap fees and transaction speed.
2) Expected launch of Polygon ZK-EVM
Zero-knowledge (ZK) technologies hold one of the greatest potentials in Blockchain. And they’re not limited to scaling. ZK-powered technology will change different industries, from gaming to payments, from digital identity to corporate solutions. The industry is noticing this technology, and 2023 seems to be the year it takes flight. Therefore, Polygon’s zkEVM is expected in early 2023. This technology has similar features to Ethereum such as developer tools, wallets, and existing smart contract support. More projects will likely adopt Polygon after launch.
Polygon also has a huge fan base and supportive networks. Magic Eden supports Polygon, among others. This vast ecosystem puts Polygon at the center of DeFi activities.
Altcoin 2: Chiliz (CHZ)
Chiliz is the cryptocurrency of Chiliz, the company behind the Socios platform. Socios is a fan loyalty and rewards app that fundamentally changes the sports fan experience. Socios offers official fan tokens for different sports teams.
CHZ is an ERC-20 token. It runs its own Ethereum side-chain. Hence, CHZ serves as a currency for purchasing NFT on Chiliz’s Socios fan token market. In December, the CHZ saw a massive accumulation of whales. The cryptocurrency price got into a good run shortly after the World Cup. The main reason for this was the growing awareness about fan tokens. And this growth has seen increased demand for ETH whales. According to WhaleStats data, CHZ was among the top 10 tokens purchased by the first 5,000 ETH whales. So why are whales getting CHZ now? Here are some reasons:
Chiliz 2.0
The Chiliz 2.0 upgrade is another big push for this project. CHZ will become a network after the upgrade, not just a token. Sports and mainstream brands will be able to develop products on Chiliz, expanding it into a larger ecosystem.
Chiliz also plans to launch an accelerator program for companies that are actively developing web3 applications. Listing on new exchanges and increasing awareness point to a growing ecosystem. The price can be volatile. But whales often think long-term. These whales think the CHZ has what it takes to bloom and attract investors in a bull market.
Cryptocurrency 1: Curve DAO Token (CRV)
We’ve talked about Curve Finance a few times, and it’s no surprise that whales are interested in CRV. Curve Finance is a decentralized exchange for cryptocurrency trading. The platform focuses on efficient stablecoin trading. So why do whales accumulate CRVs?
Profitable platform despite bear market: Many projects struggled during the 2022 bear market. However, Curve Finance was a hot spot. Curve was at the center of the popular Curve Wars. Curve has also produced a large number of fare. This became a major attraction for whales. Strong dominance over competitors like Balancer/ good tokens: Curve has good tokens. This gives it an edge over competitors like the Balancer. Curve’s design provides low transaction fees and slippage by identifying suitable routes for users’ exchange requests.
Curve’s governance model allows token holders to control the network in a decentralized manner. Therefore, Curve focuses on stablecoins. It also draws massive liquidity from whales and small investors. Whales have a big bet on Curve. They see the Curve as a sleeping giant that will get up at the next bull run. Interestingly, the CRV did not record an ATH in the 2021 bull run. There are several reasons why whales believe in Curve so much. And now I’ll go over them:
- An impressive daily volume
- Comprehensive network support
- The advantage of having Convex Finance
Curve has what it takes to dominate the next bull run.
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