Smart Money Has Abandoned PEPE, Flown Into These Altcoins: The Choice of Institutional Investors!

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The DeFi Edge newsletter provided an in-depth look at the altcoin trading activities of smart wallets (institutional investors), detailing the key events of the past week. This analysis reveals that large investors tend to move towards more predictable products in anticipation of the market’s future bull run. Here are the details…

According to the information shared in the DeFi Edge newsletter, major investors are updating their portfolio strategies by keeping up with the changing dynamics in the cryptocurrency market. The developments experienced last week appear as an important indicator in determining future cryptocurrency trends.

Aforementioned to data According to Chainlink (LINK), Pendle (PENDLE) and Ribbon Finance (RBN) were actively purchased by the owners of large and successful cryptocurrency wallets in early December 2023. This move can be considered as an effort by large investors to turn to more reliable altcoin projects in order to strengthen their portfolio strategies and make the most of the potential future bull run.

Analysts at The DeFi Edge added that the largest decentralized oracles network, Chainlink (LINK), was on the list of the best coins for buyers for the second week in a row.

PENDLE’s price is up 2% in the last 24 hours, while Ribbon Finance (RBN) is up over 33% in the past week. Representatives of the newsletter think that this may be indicative of the buying frenzy displayed by large-scale investors:

“There appears to be a preference towards more established protocols, at least until the retail investor returns.”

Altcoins Sold

Meme coins such as PEPE and GROK have been under major selling pressure this past week. This highlights the need for investors to revise their risk management strategies, taking into account the volatility in meme coins. These sales, which occurred after meme coins came to the fore, can be considered as an important indicator of the risk perception in the cryptocurrency market.

At the same time, the largest outflows were recorded among holders of BLUR, Blur’s native cryptocurrency. This can be attributed to criticism caused by Blur-related L2 (Layer-2) platform Blast.

Additionally, analysts noticed a decline in the allocation of stablecoins held by smart wallets across multiple chains. In the last six weeks, this key indicator has fallen 50%, which could be a potential clue that investors are ready to start a bullish rally.

As a result, according to the data provided by the DeFi Edge newsletter, large investors are trying to quickly adapt to dynamic changes in the cryptocurrency market. The analysis shows that developments over the past week may play a decisive role in shaping future cryptocurrency trends. Investors should be careful to analyze the market and focus on reliable projects so that they can create successful investment strategies.

You can follow the current price movement here.


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