Contrary to expectations, the crypto market has largely experienced convergence since Donald Trump took office on January 20. Top assets kept within range, without volatility dramatic price.
Despite this, large investors are still accumulating specific altcoins, taking advantage of the stable trading environment to position themselves for future benefits. Among the top picks this week are Avalanche (AVAX), Dogecoin (DOGE) and Lido DAO (LDO).
Avalanche (AVAX)
AVAX, the layer one coin, is one of the top picks of major investors this week. This is evident in the triple-digit increase in net cash flows of major investors over the past seven days, skyrocketing 151% according to IntoTheBlock data.
Large holding addresses are those that own more than 0.1% of an asset’s circulating supply. The net cash flow of major holders tracks the difference between buying and selling of these coins over a period of time.
When net cash flow increases, it means large investors are buying more. This is a positive signal, showing that prices may increase. If AVAX investors continue to accumulate, the coin price could reach $40.
Dogecoin (DOGE)
Top Meme Coin DOGE is also an altcoin that has attracted the attention of major investors this week.
Analysis of Dogecoin’s supply distribution shows that large holding addresses with more than 1 billion DOGE accumulated 1.65 billion DOGE this week, worth more than $569 million. This brings the group’s total holdings to 74.06 billion DOGE.
If large investors continue to buy Meme Coin Coin, the price could break above the decisive resistance at $0.40.
Lido DAO (LDO)
Lido DAO’s LDO has also seen an increase in activity from major investors this week. On-chain data shows that large investors holding between 1 million and 10 million tokens accumulated 15 million LDO worth more than $31 million this week.
If the accumulation continues, the value of this liquid staking coin could increase to $2.26.
