Despite a general market selloff, whales have been accumulating significant quantities of Cardano (ADA), Dogecoin (DOGE), and Polygon (MATIC) in recent days.
Whale activity has also surged in relation to popular crypto tokens Shiba Inu (SHIB) in light of the Shibarium beta launch and MATIC as a result of growing NFT support.
Whales purchasing MATIC tokens, Cardano, and Dogecoin
In fact, among the top 500 ETH whales, MATIC is now the third-largest crypto holding.
With a weekly increase of around 10%, the price of Polygon (MATIC) is steadily growing. At the time of writing, the price is $1.33, up 2% from the previous day’s low of $1.24.
The top 100 BSC whales exchanged the most tokens in the previous 24 hours, according to WhaleStats, and that token is ADA.
Santiment on-chain statistics showed that Cardano whale numbers had increased in 2023 on Wednesday, with transactions over $100k increasing for the first time since May of last year.
The price of ADA has decreased more than 2% during the past day, trading at $0.38 at the moment.
Among the top 100 BSC whales for the past 24 hours, Dogecoin (DOGE) flipped Cardano to become the most traded cryptocurrency. In the previous 24 hours, Dogecoin Whale Alert recorded at least 20 transactions totaling more than 200k DOGE.
Dogecoin (DOGE) price has reportedly broken out of its “falling wedge” pattern in the weekly period, according to Rekt Capital’s research published on Tuesday. This suggests that a rise above $0.1 is likely to occur over the next few weeks. In the previous 24 hours, the DOGE price has decreased by 4% and is consolidating about $0.09.