Crypto Whales Flocking to These Altcoins: Is This Development a Harbinger of a Rally?

According to Analyst Altcoin Buzz, several altcoins, including XRP, Tellor (TRB), Render, Singular, and Fetch.ai (FET), have witnessed significant whale accumulation lately. The analyst believes that these developments indicate potential upward trends in the near future.
Crypto Whales Flocking

Recently, Ripple’s XRP saw an increase in whale addresses accumulating its tokens. Addresses holding between 1 million to 10 million XRP collectively purchased over 90 million tokens, amounting to approximately $48 million. Historically, such accumulations by whales have influenced price movements and have often occurred before market recoveries and rallies.

Moreover, there is an increasing participation from retail investors. The number of addresses transacting on the network increased by 28.8% last week. This growing optimism among investors, coupled with XRP currently trading at 54 cents and showing signs of potential upward movement, could further drive prices higher.

Whale Movements Suggest Upward Trends for XRP and TRB

In early May, decentralized Oracle Network like Tellor (TRB) nearly doubled its market value, reaching $247 million on May 7th. Analysis indicates a significant increase in whale activity surrounding TRB, along with an increase in whale transactions and active addresses observed on May 6th.

With this growth potential, crypto analysts remain optimistic about TRB’s price trajectory. Technical formations suggest continued upward momentum for TRB, with forecasts indicating the possibility of higher price levels. Predictions foresee a surge above $261, representing an increase of over 35% and highlighting TRB’s potential.

Artificial Intelligence Innovations Boost Altcoin Gains

In recent days, other altcoins such as Render, Singular, Fetch.ai (FET), and DeepBrain Chain (DBC) have experienced significant gains. Render has gained over 50% in the last seven days, while other AI-focused coins like Singular, Fetch.ai (FET), and DeepBrain Chain (DBC) have shown increases ranging from 17% to 23%. These coins have outperformed the overall crypto market.

The correlation between developments in the artificial intelligence sector and cryptocurrency market dynamics indicates an increase in investor enthusiasm, especially with chip manufacturers like Nvidia set to announce their first-quarter earnings on May 22nd.

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