February concluded on a disappointing note for the cryptocurrency market, with numerous altcoins experiencing significant value declines. However, some large-scale investors have redirected their attention toward select coins, sparking optimism for potential price rebounds in March. This shift raises questions about which altcoins are currently attracting substantial backing from these prominent players.
Why is Litecoin Gaining Attention?
Can Uniswap Recover from Its Decline?
Among the altcoins, Litecoin (LTC) has emerged as a focal point, garnering considerable interest from major investors. While the broader market faced setbacks, LTC demonstrated resilience, with only a 7% drop over the past week. This steady performance is believed to be linked to the upcoming possibility of ETF approval, which has encouraged whale activity, evidenced by a notable increase of 233,280 coins in their holdings.
Uniswap (UNI) also remains a prominent contender on the radar of large players. Following the SEC’s closure of its investigation into the decentralized finance protocol, whales have shown continued interest despite a lack of anticipated price growth. Data reveals that wallet addresses holding between 10 million to 100 million UNI have amassed a total of approximately $750 million, indicating a strong accumulation trend that could mitigate some losses from February.
– Litecoin is witnessing strong whale accumulation, signaling potential for recovery.
– Uniswap’s whale interest persists, despite a recent price decline.
– Optimism (OP) remains attractive to whales, even with a significant year-to-date drop.
Additionally, Optimism (OP), based on Ethereum, is capturing attention from whales, who are purchasing at lower price points despite a substantial 40% decline this year. Current data shows an uptick in acquiring OP coins, which could lead to a price increase toward $2 if this trend continues. However, if investor interest wanes, OP could potentially fall below $1.
