The cryptocurrencies that Crypto billionaires hoarded saw huge price increases this week. Having said that, BeInCrypto noticed that these whales’ tactics seemed to have shifted from what they had gathered in prior weeks. Here, we show you which alternative cryptocurrencies were purchased by Crypto Whales in the second week of December 2024.
Aave (AAVE)
Crypto whales have amassed many cryptocurrencies this week, but none more so than AAVE, the decentralized lending and borrowing network token. According to IntoTheBlock’s data, on December 11, the net flow of AAVE’s large holders, a measure that tracks whale activity, was under four thousand.
The fact that it has risen to 87,860 during writing shows that Crypto whales have increased their exposure to the DeFi coin. These accumulations show that whales purchased tokens worth around $35 million at the altcoin’s current value.
The price of AAVE has increased by 42% in the last seven days, which appears to be affected by this transaction. It is currently trading at $370.34. Aside from whale behavior, the altcoin’s purported acquisition by Donald Trump’s crypto project could be behind the price spike.
Should whales refrain from selling, the prospect of further increases to AAVE’s value exists. Selling pressure, however, might cause that to alter, and the gains it has made could be diminished.
Virtual Protocol (VIRTUAL)
This week, Crypto Whales purchased altcoins, including VIRTUAL, the native Base chain-based AI technology token. Sentiment reports that many altcoins were amassed by addresses with 100 million to 1 billion VIRTUAL coins. For example, these addresses had a balance of 145,000 tokens as of yesterday, December 12.
An increase to 6.44 million today shows that Crypto whales bought 6.30 million VIRTUAL tokens or roughly 15 million worth of value. Consequently, VIRTUAL’s trading volume surpassed $220 million, and the price hit a new record high. The altcoin’s value might exceed $2.30 if the current trend persists. But if people start taking more profits, the trend can turn around.
Ondo (ONDO)
Crypto whales purchased ONDO, a token with roots in the Real World Assets (RWA) tokenization, among other altcoins today. The amount of ONDO held by whales increased by 7.34 million last week, according to data from IntoTheBlock’s on-chain. This week, ONDO’s price increased by 17% due to the buying pressure.
Values exceeding $2 are possible if Crypto Whales increase their buying of the altcoin. This may also happen if additional major institutions make purchases. Nevertheless, this could alter if these important parties scale back their roles. If that happens, ONDO’s price might fall below $1.
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