Why are whales mimicking Fetch.ai, Algotech, and BNB?

The cryptocurrency market has suffered a bit of a stir in recent weeks, and is on the verge of a major move that is expected to see Bitcoin outperform the market. Highest ever, many crypto whales are entrenched in smaller, newer altcoins with unique infrastructure and new technologies that are still under surveillance. Fetch.ai, BNB, and Algotech are three of these cryptocurrencies, and let’s take a look at why the hype has shifted from popular cryptocurrencies like Ethereum and Solana to these cryptocurrencies. Let’s begin.

algotech

After a successful pre-sale in which $1.1 million worth of ALGT was sold in two days, Algotech (ALGT) It has attracted both whales and retail traders. The underlying architecture, which seeks to use emerging technologies such as machine learning, artificial intelligence, and advanced data analytics tools to facilitate cryptocurrency trading, has been widely accepted. The platform achieves this through algorithms and automated trading strategies to reduce human emotional involvement in the trading process. Some of these strategies include momentum trading, mean reversion, and some arbitrage opportunities.

that much Algotech (ALGT) The token is at the center of the Algotech ecosystem, and many analysts predict its price will end at $0.15 by the end of 2024, up 275% from its current price of $0.04. The first pre-sale has ended, and early birds will go through three more steps to be listed on the exchange.

Algotech’s ownership also grants token holders governance rights to make decisions about the future direction of the platform. Whales are moving to Algotech in droves because it offers a large margin of safety in their pursuit of diversification.

Fetch.ai

Fetch.ai It is an all-encompassing open machine learning blockchain network based on artificial intelligence. One of its selling points is its decentralized economy, and potential applications range from practical uses such as transportation and supply chain management to other uses such as data sharing and machine learning.

Whales have been aggressively purchasing Fetch.ai (FET) tokens. As of September 2023, whale holdings have surged to 302.2 million FET, which appears to have instilled confidence in most retail traders. Due to its close correlation with Nvidia, FET could remain strong for a very long time.

BNB

After a difficult journey with the U.S. Securities and Exchange Commission, which resulted in the resignation of its founder, BNB appears to be putting the past behind it and soaring to new highs. The cryptocurrency has surpassed a market capitalization of $55 billion, a figure last seen in November 2023. This sudden surge could be due to increased whale activity as the number of wallets holding more than 1 million BNB increased to 1,867. On the technical outlook, BNB is poised to increase to around $449 ($73 billion market capitalization) before facing substantial resistance. According to Binance Coin price prediction, it is expected to reach $507 by the end of 2024. Whales are adding to positions in BNB as Bitcoin’s rise and Binance’s dominance do not appear to be stopping anytime soon.

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