Whales Accumulate Cardano and Solana Amid Crypto Market Dip

In the current volatile crypto market, where Bitcoin has dipped below $100K and several altcoins, including Ethereum, Hyperliquid, Cardano, and Virtuals, have experienced significant declines of 20–30%, whales and institutions are actively buying. This behavior was highlighted in a recent discussion, which noted that smart money is taking advantage of the dip while retail sentiment turns negative.

Bitcoin, in particular, is showing strong signs of accumulation. Wallets holding 10 BTC or more are increasing while smaller wallets are shrinking. This trend suggests that large investors are confident in Bitcoin's future, setting the stage for a potential bullish momentum return to the crypto market. Companies like MetaPlanet and a major French firm are building BTC reserves, and MicroStrategy recently added another $26 million worth of Bitcoin. Bitcoin ETFs have almost bought $1 billion BTC in the past two days, with spot Bitcoin ETFs seeing $589 million in net inflows on June 24, marking the 11th straight day of gains. This indicates a potential supply shock in the near future.

Chainlink (LINK) is also attracting significant attention from big investors. Unlike most projects that drop in price after a token unlock, LINK often sees a price rise. Whales are buying even at higher prices, with data showing that LINK jumped 11% as the number of holders hit a new all-time high at 769,380. Additionally, active wallets over the past year are down 17.3%, indicating that long-term holders see this as a prime buying opportunity. Chainlink is seen as a leader in real-world asset infrastructure and cross-chain communication, with a strong, long-term belief in the project from its community.

Cardano (ADA) is another strong example of whale accumulation. In June alone, $310 million worth of ADA was accumulated, likely from large investors. This steady buying shows confidence in the long-term future of Cardano. Founder Charles Hoskinson’s willingness to work with other major crypto projects like Bitcoin and XRP has also boosted investor trust. A whale opened a $5.55 million long position on Cardano in June, placing a major bet on its upside continuation.

Santiment’s latest data shows how much of each top crypto’s supply is currently in profit. Bitcoin leads with 94.5% of its supply in profit. Chainlink sits at 59.4%, while Cardano is lowest at 46.5%, which indicates that it may be undervalued and has room to grow if the market picks up.

In the dynamic world of cryptocurrency, whales—large investors with significant holdings—are always on the lookout for the next big opportunity. Currently, two altcoins have garnered substantial attention from these influential players: Cardano (ADA) and Solana (SOL). Cardano has seen a notable influx of capital from whales, with one significant purchase amounting to $5.5 million in June. This investment, part of a total of $310 million in whale activity, positions Cardano as a smart money buy. The altcoin's robust ecosystem and ongoing development make it an attractive option for large investors seeking to capitalize on its potential growth.

Solana, another altcoin that has caught the eye of whales, is currently experiencing a surge in interest. The options market reflects a strong bet on Solana's continued strength, with several experts linking its recent rebound to a strategic partnership with the Kazakhstan government. This collaboration aims to advance the tokenization of capital markets, further enhancing Solana's appeal to large buyers. Solana's high-speed blockchain and ultra-low fees continue to make it a top choice among whales, who are always on the lookout for the best cryptocurrencies to invest in.

The interest in these altcoins is not just limited to their technical capabilities. Solana's recent partnership with the Kazakhstan government and its high-speed blockchain have positioned it as a strong contender in the market. Similarly, Cardano's ongoing development and significant whale investments have made it a focal point for large buyers. These altcoins are not only gaining traction due to their technical features but also because of their strategic alliances and growing ecosystems, which make them attractive investments for whales.

In summary, Cardano and Solana are currently the top two 'whale approved' altcoins to buy now. Their growing ecosystems, strategic partnerships, and significant whale investments make them standout choices in the current market landscape. As the cryptocurrency market continues to evolve, these altcoins are poised to remain on the radar of large investors seeking to capitalize on their potential growth.