"Crypto Whales Accumulate SOL, AVAX, RTX Amidst Market Downturn"

Generated by AI AgentCoin World
Monday, Feb 10, 2025 4:41 am ET1min read

Crypto whales have been actively accumulating three altcoins, Solana (SOL), Remittix (RTX), and Avalanche (AVAX), as the broader cryptocurrency market experiences a downturn. Despite the recent market volatility, these altcoins have shown resilience and potential for growth.

Solana (SOL) price took a significant hit, dropping by 16% on the weekly chart. However, the decline could have been more severe. Solana's decentralized exchange (DEX) trading volume also suffered a 34% decrease, with SOL price crashing to $184 before attempting a comeback. Fortunately, market conditions stabilized after President Trump paused tariffs, easing trade war fears. This led to a rebound in Solana price, which surged by 18.5% within 48 hours, bouncing off its $183.06 low on Monday. Currently, Solana price sits at $203.81, cooling off 6.1% from its recent peak.

In other bullish news, Solana's flagship DEX, Raydium, overtook Uniswap in monthly trading volume after an explosive January. This surge was fueled by meme coin interest, demonstrating Solana's dominance among top altcoins.

Avalanche (AVAX) also faced challenges this week, with a 33.5% loss earlier in the week. However, AVAX has since managed to stabilize at $27.13, recovering 20.1% within the last 72 hours. The next move for AVAX will depend on the market's recovery pace. Crypto whales have been accumulating AVAX, with on-chain data from IntoTheBlock revealing that 302,100 addresses have purchased approximately 14.26 million AVAX tokens in recent days. Technical indicators suggest AVAX is testing a critical support level within a three-year descending triangle pattern. If bullish momentum continues to build, AVAX could be on track for a breakout toward $38 by late February, with whales' aggressive accumulation priming it for a significant rally.

Remittix (RTX), a PayFi protocol, has been on a relentless upward trajectory despite the market meltdown. While several top altcoins suffered, Remittix price has consistently pushed higher, securing back-to-back price jumps throughout January and February

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