The cryptocurrency market is still marked by volatility, but some coins are seeing significant activity from large investors, or so-called “whales.”
One token that has caught our attention for the level of whale activity it has been seeing of late is Mantra ($OM). Across the Mantra network, whale activity has reached new all-time highs, with transactions exceeding $1 million. Large transactions like this tend to be a good indicator of an increasing interest in a project, which is particularly interesting in light of the fact that the overall crypto market is facing some headwinds right now.
In the past week, over 84 million $OM tokens have been sent to exchanges. This is an impressive figure that reflects a change in market mood and a possible step towards liquidity.
Where once there was no trust, now there is a burgeoning air of confidence amid the almost 12,000 new Twitter followers. Following the mood shift, the transfer volume surge means the $OM holders may be doing one of two things: cashing out or preparing to flip back in.
Recently, there has been a marked increase in whale activity for Mantra ($OM). This has increasingly involved frequent transactions of over $1 million. This trend seems to indicate that the $OM token is garnering more attention from institutional investors and high-net-worth individuals. The uptick in large transactions seems the type that could have a lasting impact on the price of $OM.
The recent week saw 84 million $OM tokens transferred to exchanges, which brings to light the interest in liquidity among traders and investors. This makes sense when one considers that to actually sell something in a marketplace, one has to first bring it into that marketplace. With respect to the disposition of $OM tokens, these transactions suggest a strong possibility that the parties behind the transfers intend to sell. Given the size of the transfers, as well as the size of the likely parties behind them (the so-called whales of the crypto space), one can only conclude that these moves were made with the intent to effect significant price changes.
In the larger cryptocurrency market, these huge transfers might affect the price of $OM and even the overall feel in the sector. If the big investors keep adding to or taking away from their holdings at the exchanges, it could either be the start of a market correction or provide the liquidity for a rally to new highs. Given that $OM has done quite well in the past during times of heavy whale involvement, it seems possible that these current developments might be signaling a turning point for the token.
Amid pressure on the market, a number of investors are wondering if the current moment is a “buy the dip” scenario or if they should hold off and wait for the market to dip further yet before making any purchases. Assessing this moment as an entry point or not hinges on some very personalized factors like risk tolerance and investment goals. But within our current context, there are a few big things to consider when making this judgment call.
With the crypto market under pressure, downward many assets, like $OM, are testing critical support levels. These serve as both psychological and technical barriers that, when broken, can lead to a further decline in prices. Conversely, if the market can manage to rebound off these levels, a good moment to potentially buy into assets could present itself.
Authorities are of the opinion that certain tokens are demonstrating attributes of resilience, while a select few, in particular, are anticipated to bounce back robustly from their present support levels. Mantra ($OM) is one of the top five cryptocurrencies identified as possessing attributes conducive to a rebound because of recent activity on the part of whales, coupled with its overall performance in the market.
Even as the larger crypto market persists in its downturn, a small collection of assets sometimes called “RWA coins” (for Real-World Asset coins) seems well-positioned to make a recovery. These coins—and they are mostly just that, in the singular form—comprise markets with strong fundamentals. They have active communities. They have market-leading projects that could be driving them to some sort of recovery as the crypto space regains its footing.
1. $OM – Because of the increased activity from large investors (or “whales”) and the token’s impressive history of strong price rebounds, $OM is a top token to monitor. The most recent transfer surge to exchange wallets suggests that these large players also see potential at current price levels.
2. Chainlink ($LINK) – Chainlink has for a long time been a favorite in the decentralized finance (DeFi) space. With partnership and adoption rates that are consistently strong, it remains a somewhat solid choice for those seeking a comeback in the DeFi sector.
3. Ondo ($ONDO) – A star in the making within the DeFi sector, Ondo has drawn interest for its inventive financial offerings. At a point now described as critical, this platform appears ready to stage a rebound.
4. Algorand ($ALGO) – Algorand keeps amazing everyone with its scalable blockchain solutions. With powerful institutional backing and a steadfast team, when people talk about coins that are set to recover in the next market cycle, $ALGO has to be part of that conversation.
5. Clearpool ($CPOOL) – The Clearpool platform manages liquidity for decentralized finance (DeFi) projects and offers something called a “liquidity pool“—an essential apparatus for DeFi in its current condition. But Clearpool also enables what it calls “Compound Liquidity,” which seems to be the driving engine behind the Clearpool token. In any case, there’s something somewhat odd about Clearpool—it acts like a recordacts for the artists it signs.
All five of these coins are at vital support zones, and analysts think they might bounce back strongly if the market steadies. Investing during dips in the market is risky, but these five coins are on a lot of radars as potential entry points that might lead to significant returns as the market rebounds.
The volatility of the cryptocurrency market is known to all, and it is under no less pressure right now. Whales are swimming around the Mantra $OM network and are doing some big business that is almost my selling signal—it had me selling a lot of my crypto—with an even bigger buying signal for some key support levels with coins like $OM, $LINK, and $ALGO.
For individuals thinking about breaking into the market, the present moment might be a particularly beneficial time to purchase. This is especially true for those coins that boast solid fundamentals and where significant “whale” activity can be noted. But as with all things crypto, timing is most definitely of the essence. So it is crucial to assess both market conditions and personal risk tolerance prior to making any moves. Although certain market indicators remain in the “down” position, there are unmistakable signs that several coins are on track for at least modest growth as the market begins to recover.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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