1. CURRENCY Whales are BACKING TRUST IN QUANT
The price of the Quant token (QNT) experienced a rough start to May, with a 14% drop in the first 26 days. However, a spike in the number of tokens accumulating from whale wallets prompted a rally towards the end of the month.
Specifically, the group of whale wallets holding amounts of QNT between 10,000 and 100,000 are believed to be contributing to the uptrend. The data shows that between May 23 and May 31, the group purchased another 400,000 QNT, equivalent to about $46.4 million.
The Santiment chart above highlights a period in which the Quant price started rising around May 26, just three days after whales started buying.
Quant (QNT) holders can expect the ongoing bull run to develop into an extended bull run into June.
2. AGIX WHILE IS HOWING THE PRICE OF AI TOKEN
Crypto whales are eyeing the field of artificial intelligence (AI) once again. After the explosion of the AI token movement in January 2023, interest in many tokens has dwindled. However, SingularityNET (AGIX) seems to be leading a second rally.
Crypto whales started buying AGIX at the end of April. On-chain data shows that after a brief period of profit taking in early May, AGIX whales have started buying back.
From May 16 to May 31, the group of whales holding balances between one million and 10 million AGIX accumulated significantly. The chart shows that this team added 24 million AGIX to their balance during that time period. This shows the interest of large investors in AGIX and their ability to believe in the token’s upside potential in the future.
At the current market price of 0.3 USD, the number of newly added tokens is worth nearly 7.2 million USD. Notably, this group of whales accounts for 68% of the total circulating supply of AGIX.
This suggests that they can almost manipulate the price, triggering another AGIX rally if they continue to buy.
3. BIG INVESTORS STILL LOOKING FOR THE GRAPH (GRT)
The Graph (GRT) is another token related to the field of artificial intelligence (AI) and emerged as one of the top gainers in the last week of May. No wonder GRT still attracts the attention of crypto whales.
Between May 23 and May 31, crypto whales holding balances between 10 million GRT and 1 billion GRT added 70 million GRT to their holdings. This shows the interest and confidence of large investors in GRT and its ability to increase in price in the near future.
At current market value, the new investment by the GRT group of whales is worth about $9.3 million.
Given the recent rumors and information surrounding AI tokens, GRT could experience an extended rally if whales continue to buy in June.
In addition, crypto whales have a significant influence in the blockchain ecosystem. Given their financial strength and large volume of liquidity, they can have a significant influence on the price outlook of these assets. Therefore, it is not surprising that strategic investors will continue to observe and pay attention to altcoins like GRT in June.
see more : Top 5 Altcoins with the biggest drop from May 26 to June 2