- Whales are accumulating altcoins like Uniswap and Crypto.com through the recent dip in prices.
- Increasing accumulation by whale addresses is considered bullish for the altcoin’s price.
- Analysts have predicted a rally in Uniswap and Crypto.com tokens.
Smart Money, capital controlled by institutional investors and large-wallet traders, has fluctuated over Christmas. Groups of whales have accumulated Uniswap and Crypto.com through the dip.
Analysts note an increase in number of whale addresses in Uniswap and Crypto.com
Movements of whale or large wallet holdings have an influence on altcoin prices. Analysts at the crypto intelligence firm Santiment have observed a spike in the number of whale addresses.
Whales are accumulating CRO, the native token of the Crypto.com chain. Addresses holding 100,000 to 10 million Crypto.com tokens have increased their holdings.
Crypto.com whale address holdings
The accumulation by large wallet holders started with Crypto.com’s purchase of the naming rights to Los Angeles’ sports arena.
Uniswap, a DeFi protocol that supports the exchange of cryptocurrencies, is among the key projects that witnessed a surge in price in the first half of 2021. Large wallet addresses are keen on adding more UNI tokens to their bags through the recent drop in price.
Layer-1 Ethereum scaling solutions have witnessed a price rally over the Christmas holidays. @AltcoinSherpa, a pseudonymous cryptocurrency analyst, believes that the altcoin rally has started.
Since Uniswap’s launch on the Polygon network, there is a spike in the altcoin’s network’s on-chain activity. 99.3% of Uniswap holders voted in support of the proposal to bring Uniswap v3 to Polygon.
Additionally, a $20 million fund was offered to boost the launch of Uniswap on the Polygon network. This fueled the bullish narrative for Uniswap price. As whale accumulation continues, analysts predict a price rally in Uniswap and Crypto.com.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.