As per recent on-chain activity, whales are buying cryptocurrencies because they believe retail investor capitulation has already occurred. From current low price levels, the market will deliver impressive gains in 2023.
Crypto whales are high earners or institutional investors who own large amounts of cryptocurrency.
Bitcoin (BTC)
With a market cap of over $360 billion, Bitcoin is the world’s first and largest cryptocurrency. Major financial institutions have showed interest in this peer-to-peer online cryptocurrency.
A whale in the case of Bitcoin is an investor who owns 1,000 or more BTC tokens. According to the crypto whales tracker, whales own nearly 40% of the available BTC tokens.
Satoshi Nakamoto, the creator of this cryptocurrency, is said to own between 75,000 and 1 million BTC. Several organizations have started to add this token on their balance sheets in recent years.
Micro Strategy, a business intelligence company, has the most Bitcoin of any organisation in the world. Bitcoin hit an all-time high (ATH) of $70,000 in November 2021, but it has since lost more than half of its value. It is one of the top 5 cryptos whales are buying for 50x profits in 2023, with a current price of $16,130.
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Cardano (ADA)
Cardano, a popular blockchain based platform, operates on proof-of-stake (PoS) consensus. On its network, the platform has deployed smart contracts to allow the development of multiple dApps (decentralized applications) and DeFi (decentralized finance) protocols.
Cardano has always been one of the market’s most popular blockchains. However, its popularity skyrocketed last September when the Cardano Foundation released the Alonzo hard fork, bringing smart contracts to the blockchain.
Whales have purchased over 79.1 million ADA tokens, as per data. We expect this coin’s value to rise in 2023, making now the best time to buy ADA.
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Ripple (XRP)
XRP is the native token of Ripple, an open-source and permission less protocol. It aims to be the leading provider of crypto solutions for businesses by utilizing blockchain technology. Ripple provides businesses and financial institutions with transparent, faster, and more cost-effective global transaction processing solutions.
The decentralized platform can facilitate transactions involving fiat currencies, popular cryptocurrencies such as Bitcoin, and even commodities. XRP is a low-cost provider, with a transaction fee of only $0.0002. Furthermore, transactions are processed in 2-5 seconds.
For these and other reasons, crypto whales are buying XRP now in order to profit 50 times in 2023.
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Shiba Inu (SHIB)
Shiba Inu, a cryptocurrency that started as a joke, is now trying to reshape the world of decentralized finance. SHIB has progressed from an unknown memecoin to a major competitor to Dogecoin. However, recent Shiba Inu advancements are more impressive than ever.
Many crypto whales, including big heads from Ethereum and Dogecoin, are feasting on SHIB. Shiba Inu is doing relatively well while the cryptocurrency market recovers from the bear outbreak. Shiba Inu has been in the news for doing well in the market since its inception in 2020.
Its “Doge killer” new name came true in 2021, when SHIB briefly outperformed DOGE and even entered the top ten cryptocurrency list. Many investors profited when the cryptocurrency reached an all-time high in November of last year. However, in addition to small investors, crypto whales play an important role in raising the value of meme-coins. According to data, eight whale accounts control a whopping 7-.52% of SHIB circulation.
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Apecoin (APE)
APE is a newer token that is currently being eaten up by whales. Apecoin is a new Ethereum-based token for the Web 3.0 era, inspired by the Bored Ape Yacht Club NFT collection. It was created to fund and build new projections called by the community. APE – the native token for the ApeCoin ecosystem – will round out our list of cryptocurrencies that whales are buying.
APE was launched by the APE decentralized autonomous organisation (DAO) earlier this year. The DAO is in charge of the entire APE ecosystem, including the NFTs of the Bored Ape Yacht Club (BAYC), the NFTs of the Mutant Ape Yacht Club (MAYC), and the Other side metaverse.
We believe the asset’s developers are making great strides toward creating a sustainable universe. The demo of the Other side metaverse was held earlier this month for 4,500 people, and the feedback has been generally positive.
Yuba Labs and the APE DAO may be able to increase APE adoption by creating an excellent product. Recent price increases have also been encouraging.
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Dogecoin (DOGE)
Dogecoin was launched in 2013, and it has performed extremely well since then, so much so that it has evolved over the last couple of years to become one of the leading cryptocurrencies in the entire cryptocurrency market. Musk’s favourite cryptocurrency is Dogecoin, which is why several investors have been trading in it. DOGE is essentially the best-performing cryptocurrency that has surpassed both Bitcoin and Ethereum, making it a potential cryptocurrency for 2023.
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Polygon (MATIC)
Polygon introduced its version of the Ethereum Hardfork, which makes its pricing more predictable and, in the long run, makes MATIC deflationary by burning coins. Its goal is to keep tokens from flooding the market, ultimately increasing the token’s overall value. It is one of the best cryptocurrencies for making a 100x profit.
USD Binance (BUSD)
Binance USD (BUSD) is a Binance-issued 1:1 USD-backed stablecoin. The coin can be used for a variety of purposes, including transferring digital dollars (BUSD) anywhere in minutes at a low cost, trading BUSD on different exchanges and DEX, and depositing BUSD to earn an interest rate, to name a few.
Tether (USDT)
Tether is the largest stablecoin by volume and has totally changed the interest of many crypto enthusiasts around the world. The stablecoin is a popular option among young international investors passive income without having to risk a large sum of money. Tether is undoubtedly one of the top coins, and its market capitalization will soar in the coming months.
Stellar (XLM)
XLM is one of the best cheap cryptocurrencies to buy for less than $1. Stellar is an open-source, highly decentralized payment network that aims to change the global financial system. The provision of crypto storage services and financial inclusion and reach to the unbaked are two of the core missions that help endear it to the crypto community. Stellar is also on a mission to make cross-border transactions as simple as possible, and both cash transfers and exchanges on its decentralized crypto exchange are very affordable.
Algorand (ALGO)
Algorand is a self-sustaining, decentralized blockchain-based network that can be used for a variety of purposes. These systems are secure, scalable, and efficient, all of which are necessary for effective application in the real world. Algorand will support computations that require good performance, ensuring the creation of new types of trust. It is one of the best Cryptocurrencies to buy under $1 before 2023.
Binance Coin (BNB)
BNB, the most valuable exchange token on the market, was introduced by Binance, the industry’s major crypto exchange. BNB is also becoming more useful as Binance expands its market.
Avalanche (AVAX)
Avalanche, like Solana, is an example of a crypto with a clear purpose, as opposed to meme coins like Shiba Inu. Avalanche is one of many projects looking for new ways to beat Ethereum. Its network is much faster than any other cryptocurrency’s network.
USD Coin (USDC)
Another safe investment option that investors will prefer in 2023 is USD Coin. USD Coin, like Tether, is a stablecoin that is pegged to the US dollar 1:1. Every unit of this cryptocurrency in circulation is backed by a US$1 reserve, which is made up of cash and short-term US Treasury bonds. The stablecoin was originally released on a limited basis in September 2018 and has since expanded its dominion over the entire crypto market.
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Disclaimer:
The information in this article is solely the author’s opinion and does not constitute investment advice; it is provided solely for educational purposes. By using this, you acknowledge that the information does not constitute investment or financial advice. Before making any investment decisions, do your own research and consult with financial advisors.