Despite a downturn in the cryptocurrency market, crypto whales have continued to show confidence by accumulating specific altcoins. Toncoin (TON), Ethereum (ETH), and Axie Infinity (AXS) have emerged as top choices for these large holders.
Currently trading at $5.35, Toncoin has seen a 9% price decline over the past week, hitting a low of $5.16 during intraday trading. Nevertheless, whales have increased their purchases of TON, with a remarkable 1698% surge in netflow among large holders.
Ethereum has also faced a 10% price drop this week, creating a buying opportunity. The negative market value to realized value (MVRV) ratio indicates that the asset trades below its historical acquisition cost, prompting whales holding between 10,000 and 10,000,000 ETH to add 200,000 ETH worth approximately $476 million to their portfolios.
AXS, the token of the popular play-to-earn platform, has attracted whale interest despite a 14% price drop. The number of transactions exceeding $100,000 has consistently risen since September 30, suggesting that large players expect future price appreciation.
