Especially Shiba Inu (SHIB), Polygon (MATIC) and AAVE The activity of crypto whales in altcoins such as coin continues to increase in July. Parallel to this accumulation rate, in July, a process in which Bitcoin (BTC) did not show any significant movement; Prices for SHIB, MATIC and AAVE also increased by about 12%, 19% and 18% respectively.
Crypto whales accumulating SHIB, MATIC and AAVE
According to WhaleStats, Shiba Inu (SHIB), Polygon (MATIC), and AAVE tokens have become a huge trend in the crypto community since July 1. These tokens are Uniswap (UNI) and The Graph (GRT) It is among the most purchased tokens in the last 24 hours by the largest Ethereum (ETH) whales.
In addition, Shiba Inu (SHIB), Polygon (MATIC) and AAVE were also the most purchased tokens by the top 5000 whales last week. As a result of these heavy purchases, the whales are reportedly holding approximately $614 million worth of Shiba Inu tokens.
Koinfinans.com As we reported, the announcement of the SHI stablecoin and TREAT reward token by Shiba Inu lead developer Shytoshi Kusama created a great stir in the SHIB community and increased interest in the meme coin. Treat will also be used to obtain rewards for the Metaverse and Shiba Collectible Card Game.
SHIB price is up around 5% in the last 24 hours and is currently trading at $0.0000107.
Polygon increases its weight in NFT
Meanwhile, Polygon has also increased its influence in the NFT market this week. While The Sandbox has added the LAND distribution to Polygon, Polygon has teamed up with phone maker Nothing to bring Web3 technology to mobile users.
Alongside these, Robinhood has added support for MATIC deposits and withdrawals. Also, Reddit announced an NFT-based avatar marketplace in partnership with Polygon. These recent developments in the altcoin project have caused a 6% increase in prices today, with the altcoin currently trading at $0.55.
Whale accumulation positively affects AAVE price
The price of AAVE, another altcoin that has been on the whales’ radar, has also increased significantly this week as a result of whale accumulations. After ETH whale “BlueWhale0079” purchased 24,999 AAVE tokens today, the popular DeFi altcoin has become the most traded token among the top 100 ETH whales in the past 24 hours. At the time of writing, the AAVE price is trading at $64.64, up about 5 percent.
🐋 ETH whale “BlueWhale0079” just bought 24,999 $aave ($1,568,749 USD).
Ranked #369 on WhaleStats: https://t.co/ed7FkDM14n
Transaction: https://t.co/VhdpchE70Z#AAVE #ERC20 #DEFI #ETH #whalestats #babywhale #BBW
— WhaleStats – BabyWhale ($BBW) (@WhaleStats) July 7, 2022
Will the Price Rally Continue?
Considering the recent announcements regarding SHIB, AAVE and MATIC, the tokens could rise even more after the high trading volume seen in the last few days.
Also, whale accumulations are a bullish signal of an impending rally in price. Moreover, the recent growth in the crypto market may also support the expected rallies in these tokens.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.