What are the Cryptocurrencies that giant investors are buying? This is an important question that many investors want to understand, especially when the prices of altcoins have not yet recovered from the peak reached a few weeks ago.
Specifically, JasmyCoin (JASMY), XRP and Polygon (POL) have emerged as key targets for acquisition by large investors. Let’s look at why these assets are attracting major attention and what might happen next.
JasmyCoin (JASMY)
Known as the “Bitcoin of Japan,” JasmyCoin has seen increased accumulation from whales this week. This comes amid a 30% drop in the altcoin’s value over the past seven days.
According to data from IntoTheBlock, large investor net throughput was recorded at 10.22 million on Monday, December 16. Large investor net throughput is the difference between the number of tokens that investors “whales” have accumulated and dispersed.
But as of now, the number has increased to 54.74 million, indicating that “whales” have purchased approximately 44.52 million JASMY Tokens this week. At current prices, this means these shareholders have invested $1.38 million in the altcoin.
This shows that whales rate JasmyCoin as one of the top altcoins to buy during low prices. If this accumulation trend continues, increased demand could push JASMY price towards the $0.10 mark.
However, if whales divert attention from JasmyCoin or lose interest, the price could continue to correct.
Ripple (XRP)
Ranked as the 4th Cryptocurrency in value, XRP has become one of the altcoins that “whales” buy. On December 15, the balance of addresses holding between 1 million and 10 million XRP was $4.85 billion.
Currently, that number is 5 billion, meaning whales bought 150 million tokens this week, or about $327 million worth of altcoins.
This move shows that the broader market expects XRP to be one of the first coins to recover strongly when the asset corrects. If this happens, the price of XRP could increase to 3 USD. However, if selling pressure increases, the Token could drop below 2 USD.
Polygon (POL)
POL, formerly known as MATIC, is another altcoin that whales bought this week. This week, POL price has dropped 26.29% and is 65% below its all-time high.
For many market participants, it seems difficult for this altcoin to return to all-time highs. However, it seems that the “whales” do not agree with this view, when the amount of assets held in the range of 1 million to 10 million increased from 310.83 million to 315.94 million.
If this accumulation trend continues, the Polygon ecosystem Token price could increase to 1 USD. However, if the accumulation of “whales” decreases, the Token is likely to plummet.