Marti, the host of Altcoin Buzz’s YouTube channel, believes that cryptocurrency whales are taking advantage of recent macroeconomic developments and strategically investing in specific altcoins with profit potential. Marti attributes this increased whale activity to factors such as the Federal Reserve’s decision to pause interest rate hikes and the potential approval of more futures exchange-traded funds (ETFs) in the United States.
The Altcoin Buzz host has identified three particular altcoins that have caught the attention of these whales in their investment endeavors. The first altcoin that has garnered significant interest from whales, according to Marti, is LINK, the native token of the Chainlink blockchain protocol.
Marti highlights LINK as one of the standout performers in September, with a remarkable 30% increase in value, ranking it among the top 20 cryptocurrencies. Marti attributes this surge in LINK’s price to successful tokenization experiments with SWIFT and increased activity in the real-world assets (RWA) sector.
Marti also presents on-chain data to support his claim that whales remain enthusiastic about LINK. According to data from IntoTheBlock, LINK whale transactions surged from 30 to 218 between September 17 and October 2. Notably, one whale recently acquired 424,443 LINK tokens at a price of $7.67 each, amounting to a substantial $3.25 million investment.
Another altcoin that Marti singles out for benefiting from macroeconomic events in September is Maker (MKR). Marti notes that MKR witnessed a significant increase in large transactions on September 20, shortly after the Federal Reserve announced the pause in interest rate hikes. He points out that the number of whale transactions in MKR spiked from nine on September 19 to 102 by October 2.
Bitcoin Cash (BCH) also makes Marti’s list of altcoins experiencing heightened whale activity. Marti points to an increase in BCH holdings by crypto whales, aligned with a bullish sentiment in the altcoin market. He draws parallels between the current situation for BCH and the June 2023 bull rally when BCH reached a yearly high of $329.
Marti supports his observations with on-chain data that reveals a steady accumulation of BCH by whales since September 21. According to his analysis, whales have boosted their BCH holdings from 2.41 million BCH to 2.56 million BCH between September 21 and October 4, indicating an accumulation of 150,000 BCH over the past few days.