Key Altcoins Accumulated by Crypto Whales in August 2024
Litecoin (LTC)
In the second week of August 2024, crypto whales showed particular interest in Litecoin (LTC), a lighter version of Bitcoin (BTC). Data from IntotheBlock indicates a significant increase in net flows from large Litecoin holders, suggesting accumulation by whales.
The positive activity from whales, as reflected in the increased accumulation of LTC, may signal potential price growth in the near future. Currently trading at $65.50, Litecoin has seen an 8.82% increase from the previous week, indicating a bullish sentiment among investors.
Polygon (MATIC)
Despite its underperformance, Polygon (MATIC) caught the attention of crypto whales in August 2024. On-chain data from Santiment confirms that whales are accumulating MATIC, with notable increases in the balances of certain address groups.
Whales seem to be preparing for MATIC’s migration to POL on September 4th, triggering anticipation for a potential price surge. However, despite the accumulation, MATIC’s price saw a modest decline of 4.72% this week.
Avalanche (AVAX)
Another altcoin that garnered interest from crypto whales in August 2024 is Avalanche (AVAX), the native token of the Avalanche blockchain. Large account net flows for AVAX surged by 36%, indicating significant accumulation by whales.
Despite a 3.18% price drop in the past 24 hours, attributed to an upcoming token unlock event on August 19, continued accumulation by whales could stabilize and potentially boost AVAX’s price.
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