With Bitcoin and Ethereum rates remaining low, traders are starting to focus on other digital assets, so we decided to find out which coins whales were buying in September.
With Bitcoin and Ethereum rates remaining low, traders are starting to focus on other digital assets, so we decided to find out which coins whales were buying in September.
During the first two weeks of autumn, wealthy traders were actively investing in:
- Ondo (ONDO);
- Official Melania Meme (MELANIA);
- MYX Finance (MYX).;
The Ondo cryptocurrency, issued by the DeFi of the same name, has attracted the interest of investors due to the growing popularity of tokenized assets presented on this platform. People who owned ONDO coins worth between $1 million and $10 million increased their token holdings by $23.8 million at the current rate. Thanks to this, ONDO has risen in price by 18% over the past week. Growing Number of Ondo on Wealthy Traders' Balance Sheets
The memecoin of US President Donald Trump's wife Melania Official Melania Meme has also caught the attention of whales. The rich have increased their coin reserves by almost 4%, thus pushing the token's price up by 6%. However, it is worth noting that buying MELANIA carries a high risk due to the fact that 81% of issued digital assets are stored in 100 crypto wallets, which allows the rich to easily manipulate the virtual currency rate.
Change in MELANIA reserves on whales' balances
The value of MYX Finance, created by the MYX cryptocurrency derivatives exchange, has soared more than sevenfold over the past week thanks to the listing of the digital asset on major platforms. The upward movement was significantly boosted by whales, each of whom invested at least $1 million in MYX. Together, they invested about $1.6 billion in the digital asset and accumulated coins worth $9.7 billion at the current price. But MYX, like MELANIA, is highly centralized, because fat cats who own 100 wallets own 89% of the tokens.