We had a rough few days. The SEC’s lawsuit against Binance and Coinbase caused fear. And crypto prices reacted to this news. We’re all waiting to see how this turns out. But, as you know, the show must go on. The market is busy as usual. And crypto whales take the lead. These whales look for opportunities and dive at the right time. Crypto expert Lawrence Mike Woriji shares 3 altcoin projects that whales are interested in and why.
The first altcoin on the list of whales: Arbitrum (ARB)
The launch of the Arbitrum token was one of the most spectacular events in crypto this year. Almost everyone was looking forward to the release of ARB. Unfortunately, there was a conflict between the token holders and the Arbitrum Foundation. Hence, rumors and sales dominated the ecosystem. In the midst of all this madness, Lookonchain has identified four whales that have purchased ARBs despite the drama. For the past few weeks, or even months, these whales have been busy.
He reported that one of the whales had purchased about 1.51 million ARBs. Another has a portfolio of 2.3 million ARB tokens. The accumulation strategy of these whales does not go unnoticed. So why are these whales interested in the arb?
Arbitrum is probably the best L2 right now in terms of stability. StarkNet is still in alpha and is buggy. Also, Arbitrum contributes to generating a lot of fees for the leading altcoin Ethereum. Also, the availability of USDC in Arbitrum is a factor. cryptocoin.comAs you follow, Circle recently announced that USDC is natively supported on Arbitrum. Thus, developers and users have the opportunity to access the stablecoin without the need to bridge. Thus, businesses enjoy faster payment times using Circle Account and Circle APIs.
As of June 12, 2023, Arbitrum has a stunning Total Locked Value (TVL) of over $2 billion. This demonstrates the strong digital asset liquidity and robust developer ecosystem. Businesses have opportunities to increase their customer base. And by connecting with Arbitrum USDC, it provides access to cryptocurrency capital markets.
Arbitrum is a layer 2 scaling solution for Ethereum. It uses Optimistic Rollup technology to scale throughput for Dapps. It also ensures the security of the Ethereum Blockchain. Meanwhile, Arbitrum recently suffered a pause due to a software bug. However, the platform quickly fixed the issues and resumed its operations. ARB is currently trading at $0.9151.
Second place is Ordinals (ORDI)
Narratives are one of the best ways to plan your strategy. BRC-20 tokens are also one of the trending narratives in crypto right now. So it makes sense for whales to hoard BRC-20 tokens. Hence, Ordinals (ORDI) is one of the BRC-20 tokens worth buying. Besides being an OG, Ordinals has a good ecosystem. Ordinals make it easy for users to overwrite their image on a satoshi.
You don’t have to deal with basic complex procedures. This includes maintaining your own node. And you need to make sure that the text is on the correct satoshi. Ordinals do that for you. The SEC is indeed coming for cryptocurrencies. However, if this happens, activity in and around Bitcoin will increase. ORDI qualifies as a commodity and security. So it has a good view for the token.
There are many reasons why whales are soaring in ORDI:
- It is similar to tokenomic Bitcoin. There is a total supply of 21 million ORDIs. And all the tokens are already in circulation. This is impressive considering the token was launched in March of this year.
- The project has an active community. This means that the interest is high.
- Each ORDI is backed by 1 satoshi.
- Ordinals changed the Bitcoin narrative. So now you have the possibility to use Bitcoin as cash. Currently ORDI is trading at $5.51.
The latest altcoin to hit the whale radar is Sui Network (SUI)
SUI is no stranger to the community. The release of the token caused great excitement in the community. However, as of last month, some of that excitement has faded. In fact, it looked like the SUI was finished.
However, whales are on the rise in SUI. And there are some reasons for that.
- Sui has a special case. It surpassed Aptos in terms of social interest and transaction volume.
- Secondly, there is also the possibility of an airdrop. You know how crypto guys love airdrops. However, nothing has been confirmed at this time. But there is this possibility.
- The altcoin project recently signed a partnership with Bull Racing. This partnership makes SUI the official Blockchain partner of Red Bull.
There is still a lot of interest in SUI. This is an advantage for the token. As of this article, SUI is trading at $0.6310.
The opinions and recommendations in the article belong to the experts and are definitely not investment advice. We recommend that you do your own research before investing.
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