The crypto market looks pretty good today with Bitcoin and the most important coins trading in the green.
It’s been revealed that the interest in the king coin has been on the rise this year amidst the global crisis triggered by the coronavirus.
More and more people continue to see in Bitcoin a viable safe haven. On the other hand, according to the latest reports, it seems that whales are accumulating altcoins.
Whales are buying altcoins
New analysis from the Liechtenstein-based Crypto Research Report revealed that crypto whales are actively accumulating three altcoins.
The online publication the Daily Hodl, Demelza Hays, a former crypto fund manager and Forbes 30 under 30 member, said that the decentralized finance (DeFi) tokens Aave (LEND), Ren (REN), and Kyber Network (KNC) continue to see strong interest from crypto whales.
This comes after posting significant gains over the past few months.
“In the past 30 days, the balance of top 100 KNC whales has grown by a total of 30.6 million KNC (~$48.1 million at the time of writing). In the same time frame, the top 100 LEND whales accumulated an additional 39.6 million LEND (~$10.1 million at the time of writing) to their collective bags, while the top 100 REN whales added 5.3 million REN (~$850,000 at the time of writing) more to their holdings,” Hays said.
Also, Hays says the increase in the balance of top 100 LEND, REN, and KNC whales means accumulation and it also shows high optimism.
More than that, Hays explained that LEND, REN, and KNC have also caught the interest of retail investors.
“Since the start of the month, the number of addresses holding more than 1000 REN (~$150 at the time of writing) has increased by 550, the number of addresses holding more than 1000 LEND (~$250 at the time of writing) has increased by 817, while the number of addresses holding more than 100 KNC (~$157 at the time of writing) has grown by an additional 150.”
We recommend that you check out the complete report in order to learn all the available data.