Crypto whales, typically defined as investors holding more than $100,000 worth of any given crypto coins, are known to have significant influence on the crypto markets. To measure their influence in the market, it helps to stay alert to their buying and selling patterns. This past May, certain altcoins have been drawing attention from crypto whales.

Arbitrum (ARB), HEX, and Mask Network (MASK) have been the main coins on the radar of these large investors. Data confirms that between April 14 and May 11, one to ten million ARB tokens were added, despite a 35% dip in price. At the current market rate of $1.20, the newly-added tokens are worth almost $190 million. This accumulation among crypto whales may be a premise for further price hikes for the coin.

HEX token, led by Richard Heart, has also been a hot asset for crypto whales with one to one hundred million holdings. 400 million tokens worth around $13 million were added from May 5 to 16, despite a 50% price correction. If this trend continues, investors can expect to see a surge in the upcoming days.

Lastly, crypto whales seem to be confident in the future of Mask Network (MASK). In the past week, 1.41 million tokens, currently worth $5.5 million, have been added despite a 15% plunge in price. If the strategic investments by crypto whales remain constant, it is likely that MASK will rise as the global market sentiment goes bullish again.

All in all, crypto whales appear to be aiming for big gains in the month of May by investing in these altcoins. To capitalize on the potential for larger gains, it pays to stay aware of their buying and selling patterns.



Other News from Today