In the world of cryptocurrency, Bitcoin’s price has been relatively stable following the halving that occurred in April. However, institutional investors are not sitting idly by. Instead, they have turned their attention to altcoins in anticipation of a potential bull run once Bitcoin starts to rise.
BeInCrypto has identified three tokens that have caught the eye of these large wallet holders. First up is Cardano (ADA), which has seen a surge in accumulation by whales since November 2023. Recent transactions valued at over $100,000 suggest that these whales are increasing their holdings, which could bode well for Cardano’s price in the future.
Next on the list is Toncoin (TON), which has recently climbed into the top ten list of cryptocurrencies. The surge in price can be attributed to news of a potential IPO by Telegram, prompting whales to accumulate TON in anticipation of further gains. Despite a recent pullback, Toncoin remains a top choice for institutional investors.
Lastly, Arbitrum (ARB) has also caught the attention of crypto whales, despite experiencing price corrections in recent months. The upcoming token unlock on May 16, which will inject over $100 million worth of ARB into the market, has prompted whales to load up on the token in hopes of maximizing their profits before the event.
Overall, these three altcoins have seen significant interest from institutional investors, with transactions worth over $100,000 and $1 million consistently high. This accumulation could help support the prices of Cardano, Toncoin, and Arbitrum in the coming months. Stay tuned to see how these tokens perform as the crypto market continues to evolve.
