Crypto Whales Bet Big on Mollars, Toncoin, and Cardano

  • May 20, 2024
  • 0


The cryptocurrency market is currently experiencing a significant shift when it comes to mainstream adoption. Embarking on the Bitcoin halving, and BTC ETF hype, the space is seeing an increase in its users.

On that trend, crypto whales—investors capable of moving market trends due to their sizable funds—are also becoming more active. Interestingly enough, whales appear to be diversifying their holdings, betting on promising altcoins capable of becoming industry giants in the future

Toncoin (TON): Climbing the Ranks

Toncoin has made a dramatic entrance into the top ten cryptocurrencies, surpassing well-known assets like Shiba Inu and Cardano. The catalyst for this ascent was the March announcement of Telegram’s potential initial public offering (IPO), prompting whales to accumulate TON in anticipation of a price surge. This accumulation was reflected in a significant rise in transactions valued over $100,000 and even those surpassing $1 million. Toncoin’s price experienced a staggering 238% increase, peaking at $7.24 before stabilizing around $5.35 as the initial rally cooled off.

Cardano (ADA): A Steady Accumulation

Since November 2023, Cardano (ADA) has seen a notable increase in accumulation by crypto whales. This trend has picked up significantly in recent days, with transactions exceeding $100,000—typically the hallmark of whale activity—becoming more frequent.

Although this surge in whale activity hasn’t yet translated into a significant price increase, the growing interest from these big players could eventually provide a boost to Cardano’s market value. Despite holding less than 10% of ADA’s circulating supply, these whales play a crucial role in driving daily trading volumes, suggesting that their sustained interest could herald positive price movements in the near future.

Arbitrum (ARB): Preparing for a Rally

Despite undergoing price corrections for nearly two months, Arbitrum (ARB) remains a focus for crypto whales. These investors have been steadily accumulating ARB, possibly to stave off further price drops and to position themselves advantageously for future gains.

The anticipation of a Bitcoin halving event has driven much of this activity, as whales prepare for a potential market rally. Additionally, the upcoming token unlock on May 16, which will introduce over $100 million worth of tokens into the market, is expected to impact prices. Whales might be looking to sell before this event to capitalize on their investments. 

Mollars (MOL): The New Darling of Whales

According to a recent report from CryptoNews, whale investors are moving their profits from Shiba Inu (SHIB) to the up-and-coming Mollars (MOL), reflecting a broader trend of seeking high-potential opportunities. A prominent investor known as ‘King Shrimp’ has been gradually acquiring Mollars during the presale, employing a Dollar Cost Averaging strategy to mitigate market volatility and optimize returns. This methodical approach highlights the confidence that large investors have in Mollars’ growth potential.

Mollars’ presale has gained substantial traction, buoyed by announcements from major exchanges such as BitMart, LBank, and XT that they will list $MOL on their platforms post-ICO on May 31st. So far the new project sold over 28% of its total supply, garnering over $1.3 million from sales.

This has generated considerable excitement within the crypto community, as the token’s design as a deflationary store-of-value asset, combined with its scarcity—capped at just 10 million tokens—positions it as a highly desirable investment. The prospect of Mollars becoming one of the year’s most sought-after tokens seems increasingly likely, especially given the strong early interest and strategic whale investments. With its strategic exchange listings, Mollars is set to be introduced to over 24 million users worldwide, further enhancing its market presence and appeal.


The post Crypto Whales Bet Big on Mollars, Toncoin, and Cardano appeared first on Cryptonews.

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