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Crypto Whales bet big on Mollars, Toncoin and Cardano
The cryptocurrency market is currently experiencing a significant shift in regards to mainstream adoption. Ahead of the Bitcoin halving and the hype around BTC ETFs, the industry is seeing an increase in its users.
Following this trend, crypto whales, investors capable of shifting market trends thanks to their large funds, are also becoming more active. Interestingly, whales seem to be diversifying their holdings, betting on promising altcoins capable of becoming industry giants in the future
Toncoin (TON): Climb the charts
Toncoin has made a dramatic entry into the top ten cryptocurrencies, surpassing well-known assets such as Shiba Inu and Cardano. The catalyst for this rise was the March announcement of Telegram’s potential initial public offering (IPO), which prompted whales to accumulate TON in anticipation of a price surge. This accumulation has been reflected in a significant increase in transactions worth more than $100,000 and even those exceeding $1 million. Toncoin price saw a staggering 238% increase, reaching a peak of $7.24 before settling around $5.35 as the initial rally cooled down.
Cardano (ADA): a constant accumulation
Since November 2023, Cardano (ADA) has seen a notable increase in accumulation by crypto whales. This trend has increased significantly in recent days, with transactions exceeding $100,000 – typically the hallmark of whale activity – becoming more frequent.
While this increase in whale activity has not yet translated into a significant price increase, growing interest from these large players could eventually provide a boost to Cardano’s market value. Despite holding less than 10% of the circulating supply of ADA, these whales play a crucial role in driving daily trading volumes, suggesting that their sustained interest could herald positive price movements in the near future.
Arbitrum (ARB): Preparation for a rally
Despite undergoing price corrections for almost two months, Arbitrum (ARB) remains a focal point for crypto whales. These investors have been steadily accumulating ARBs, perhaps to avoid further price declines and to position themselves advantageously for future gains.
Anticipation of a Bitcoin halving event has driven much of this activity, as whales prepare for a potential market rally. Additionally, the upcoming token unlock on May 16, which will bring over $100 million worth of tokens to the market, is expected to impact prices. Whales may want to sell before this event to capitalize on their investments.
Mollars (MOL): The new whale treasure
According to a recent report from CryptoNews, whale investors are shifting their profits from Shiba Inu (SHIB) to Emerging Mollars (MOL), reflecting a broader trend of seeking high-potential opportunities. A prominent investor known as “King Shrimp” gradually acquired Mollars during the pre-sale, employing a dollar-cost averaging strategy to mitigate market volatility and optimize returns. This methodical approach highlights the confidence large investors have in Mollars’ growth potential.
The Mollars presale has gained considerable popularity, supported by announcements from major exchanges such as BitMart, LBank and XT that they will list $MOL on their platforms after the ICO on May 31st. The new project has sold over 28% of its total offering so far, raising over $1.3 million in sales.
This has generated considerable excitement within the crypto community, as the token’s design as a deflationary store-of-value asset, combined with its scarcity, limited to just 10 million tokens, positions it as a highly desirable investment. The prospect of Mollars becoming one of the most sought-after tokens of the year seems increasingly likely, especially considering the strong initial interest and strategic investments in whales. With its strategic stock listings, Mollars will be showcased to over 24 million users worldwide, further enhancing its market presence and attractiveness.