The crypto market started May negatively with a 9% correction in the first 12 days. However, thanks to the intense whale activity in the altcoin market, the global crypto market capitalization managed to regain 3% before the close of the month.   

The positive performance in the altcoin market played a critical role in the crypto market resurgence in the second half of May.  Specifically, on-chain data reveals that cryptocurrencies like SingularityNET (AGIX), The Graph (GRT), and Quant (QNT) have attracted whale attention. 

Considering the bullish sentiment surrounding the crypto AI space, it appears that large institutional investors have started to buy in on the AI hype once again. Unsurprisingly, two AI-related projects emerged among the top gainers in the last week of May.

Will this whale accumulation frenzy set the pace for these altcoins to rally ahead of June?

Crypto Whales are Regaining Confidence in Quant

Quant (QNT) price had a tough start to May with a 14% drop in the first 26 days. However, a sudden spike in whale accumulation appears to have spurred a last-minute rally. 

Specifically, the cluster of whales holding balances of 10,000 to 100,000 QNT appears to be leading the price recovery mission.

As seen below, they bought another 400,000 QNT tokens worth approximately $46.4 million between May 23 and May 31.