Altcoin Whale Activity on the Rise Amidst Crypto Volatility

As the crypto industry experiences increased volatility, altcoins such as Floki, AAVE, Jasmy, and ApeCoin are witnessing a surge in whale activity. This development may indicate that investors are seizing the opportunity to buy the dip, as these coins have plummeted in value this month.

Floki Sees 286% Increase in Whale Activity

Floki, a popular meme coin, has seen its whale activity soar by 286% over the past seven days. The coin’s price has dropped by over 70% from its highest level in 2024 and is currently hovering near its lowest level since March 2024. However, an upcoming catalyst could potentially boost Floki’s price: the Valhalla mainnet launch, expected to take place in February or March. Valhalla, the network’s flagship game, is backed by a dedicated $43 million treasury and aims to provide more utility to the Floki token, enhancing the ecosystem.

AAVE, Jasmy, and ApeCoin Experience Similar Whale Activity Increases

According to Santiment data, AAVE, JasmyCoin, ApeCoin, and Cronos have seen their whale activity jump by over 144% in the last seven days. AAVE, the largest player in the decentralized finance industry, has declined by over 33% from its highest level in 2023. Despite this, the network successfully handled over $200 million in crypto liquidations without issue this week.

Jasmy’s whale activity has also increased, with the coin often referred to as “Japan’s Bitcoin” falling 58% from its December peak. Nansen data confirms this rising demand, as the number of Jasmy tokens held on exchanges has decreased. Tokens on exchanges have dropped by 3.75% in the last seven days to 16.19 billion, indicating that investors are moving them to self-custody with no immediate plans to sell.

Potential Rebound for Altcoins

These altcoins may rebound later this month now that the tariff threat has abated, with Donald Trump expected to speak with China’s Xi Jinping. Furthermore, as Bitcoin has formed a cup-and-handle and a bullish flag, pointing to further gains ahead, most altcoins may rally when Bitcoin is rising.

Investors may be seizing the opportunity to buy the dip, as these coins have plummeted in value this month.

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