beincrypto.com
This week, the altcoins crypto whales accumulated experienced significant price jumps. However, BeInCrypto observed that it appears that these whales’ strategies have changed from what they accumulated in previous weeks.
In this analysis, we reveal some of the top altcoins crypto whales bought in the second week of December 2024.
Aave (AAVE)
AAVE, the token of the decentralized lending and borrowing platform, tops the list of the altcoins accumulated by crypto whales this week. Data from IntoTheBlock shows AAVE’s large holders’ netflow, a metric tracking whale activity, stood at just under 4,000 on December 11.
As of this writing, that figure has climbed to 87,860, indicating that crypto whales increased their exposure to the DeFi token. At the altcoin’s current value, this accumulation indicates that whales bought about $35 million worth of the token.
This purchase seems to have influenced AAVE’s price, which has risen by 42% over the past seven days, now trading at $370.34. In addition to whale activity, the price surge may be connected to Donald Trump’s crypto project reportedly acquiring the altcoin.
Should whales continue to buy, then AAVE’s value might continue to rise. However, if selling pressure comes into play, that might change, and it could lose some of its gains.
Virtuals Protocol (VIRTUAL)
VIRTUAL, the native token of the AI protocol built on the Base chain, is also one of the altcoins crypto whales bought this week.
According to Santiment, addresses holding between 100 million and 1 billion VIRTUAL tokens accumulated a lot of the altcoin. For instance, yesterday, December 12, the balance held by these addresses was 145,000 tokens.
Today, that number has increased to 6.44 million, indicating that crypt whales purchased about 6.30 million VIRTUAL tokens, valued at nearly 15 million. As a result, VIRTUAL’s price reached a new all-time high, with its trading volume exceeding $220 million.
If this trend continues, the altcoin’s value could rise above $2.30. However, if profit-taking increases, the trend might reverse.
Ondo (ONDO)
On today’s list of altcoins crypto whales bought is ONDO, the token with fundamentals in Real World Assets (RWA) tokenization. This week, on-chain data from IntoTheBlock showed that whales’ accumulation of ONDO climbed by 7.34 million
As a result of this buying pressure, ONDO’s price gained 17% this week. If crypto whales continue to purchase the altcoin, then the value could rise above $2.
This could also be the case if other large institutions buy. However, if these key stakeholders reduce their positions, this might change. In that scenario, ONDO could drop below the $1 mark.