Historically, the fourth quarter often brings notable gains for cryptocurrencies, and with November underway, crypto whales are strategically positioning themselves for potential profits.
These large holders, who heavily influence price trends, are closely eyeing assets with strong growth potential. By analyzing on-chain data, BeInCrypto identifies the altcoins that crypto whales are buying this month, offering valuable insights for retail investors looking to follow the “smart money” in the crypto market.
Maker (MKR)
MKR, the Maker Protocol’s governance token, tops this list of tokens that crypto whales are buying for potential gains in November.
According to IntoTheBlock, the large holders’ netflow, which measures the difference between the assets whales bought and sold, had increased. When this metric is positive, it means crypto whales bought more than they sold.
When it is negative, it means that they sold more coins. On October 30, the netflow was 85.67 million. But as of this writing, that value has increased to 5,660 MKR tokens, meaning that whales bought 5,575 tokens this week.
Read more: Who Owns the Most Bitcoin in 2024?
At the token’s current price, this indicates that crypto whales purchased over $7 million worth of MKR. Should the accumulation continue this month, then the altcoin’s price might jump higher than $1,284 in the short term.
Ripple (XRP)
Another token crypto whales are buying is XRP, the native token of the Ripple blockchain payment project. In October, XRP’s price decreased by 12% as
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Author: Victor Olanrewaju
