Monitoring the behavior of whales (large investors) is an effective method for traders to find points where assets may be about to experience a price hike or, alternatively, an eviction.
As the cryptocurrency market is this ocean where sardines, whales and other agents of the ecosystem move transparently; below, the analysis company sanctity highlighted three projects with whales accumulating and three with whales getting rid of their coins:
Whales accumulating coins
SKALE(SKL) is an Ethereum token that enables the Skale Network, which describes itself as “an Ethereum compatible network with a leaderless consensus created to run on an unlimited number of independent nodes”.
The SKL token is trading at US$0.30 at this time, according to CoinGoLive.
The Maker (MKR) is the governance token of the MakerDAO and Maker protocol — being respectively a decentralized organization and a software platform, both based on the Ethereum blockchain — that allows users to issue and manage the stablecoin DAI.
The MKR token is trading at $2,791 at the moment, according to CoinGoLive.
Ocean Protocol is a blockchain-based ecosystem that allows individuals and businesses to easily unlock the value of their data and monetize it through the use of ERC-20-based datatokens.
The OCEAN token is trading at $1.23 at the moment, according to CoinGoLive.
Whales scrapping coins
Ren ($ REN)
Ren (REN) is an open protocol built to provide interoperability and liquidity between different blockchain platforms.
The REN token is trading at US$0.86 at the moment, according to CoinGoLive.
The Graph is an indexing protocol for querying data for networks like Ethereum and IPFS, powering many DeFi applications and the broader Web3 ecosystem.
The GRT token is trading at $0.86 at this time, according to CoinGoLive.
Basic Attention Token, or BAT, is the token that drives a new blockchain-based digital advertising platform designed to fairly reward users for their attention, while offering advertisers a better return on the amount spent on advertising.
Read too: Will Google’s competitor project token continue to take off?
The BAT token is trading at $1.33 at this time, according to CoinGoLive.
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