coinedition.com
One Altcoin Buzz crypto YouTube channel host said that Chainlink, Curve DAO, and Arbitrum have recently received significant whale attention. According to the host, such a development could have bullish implications for the tokens and could result in price rallies in the short term.
Chainlink’s native token, LINK, rallied by 9.2% in the last week, and the Altcoin Buzz presenter believes it was due to whale activities on the network. According to the host, about 35 new addresses have withdrawn 755,687 LINK worth over $5 million within the last few days. The host noted that such whale activities suggest crypto token accumulation, especially considering the project’s viability.
The host said Chainlink has a good track record and an excellent long-term value proposition. He described the protocol as a leading decentralized oracle network that provides real-world data for Smart Contract projects like Aave, Synthetix, and DeFi aggregators.
The Altcoin Buzz host considers LINK currently undervalued and believes that could be the reason behind its attraction to whales. LINK traded for $7.41 at the time of writing, according to data from CoinmarketCap.
The presenter indicated Curve DAO’s CRV token as another altcoin attracting whales’ attention. According to him, CRV has recently surged by 12% due to whale accumulation, with the total volume of whale transactions exceeding 50 million CRV worth about $27 million. He identified a particular whale that transferred 5.12 million CRV tokens valued at approximately $2.7 million from the Binance exchange in one transaction. He noted that the same wallet withdrew about 19.56 million CRV, equivalent to $10.33 million, from Binance in the last three days.
According to the host, the whale staked all the withdrawn tokens on Convex, demonstrating unwavering faith in the token’s potential.
Lastly, the YouTube crypto analyst identified Arbitrum’s ARB token as one with an upside potential based on whale activities. The host spotted investor confidence in ARB based on whale purchases of the blockchain token. According to him, a famous whale recently bought 2.28 million ARB tokens worth about $1.86 million through FalconX. He spotted the crypto tokens recovery from a recent dump, attributing it to whale actions. ARB traded for $0.8158 at the time of writing, according to data from CoinmarketCap.