Whales are preparing for the next altcoin rally

CryptoQuant founder Ki Young Ju says crypto whales are positioning themselves for the next altcoin boom, as traders dispute when the alt season will begin. Using a one-year timeframe, Ju’s analysis focused on the 1-Year Cumulative Buy/Sell Quote Volume Difference for Altcoins, a metric that gauges the difference between buy and sell limit orders.

The rising level of the indicator indicates an increasing number of buy-limit orders among major cryptocurrency investors and institutions, which signal “strong buy walls” of future demand for altcoins. The analyst clarified that whales prefer limit orders to prevent slips.

The founder of CryproQuant says that some cryptocurrencies would profit the most from the higher number of future buy orders, including Solana, Polygon Cardano, Cosmos, PancakeSwap (CAKE), My Neighbour Alice (ALICE), Ampera (AMP), Ankr Protocol (ANKR), and the Chilliz token (CHZ).In contrast, the number of upcoming buy orders for tokens like XRP, Chainlink (LINK), the Binance token, Compound Finance (COMP), Bancor Network (BNT), and lending protocol Aave is now under average.

Altcoins Set for Possible Price Increase

Jamie Coutts, a crypto analyst, just released a corroborating altcoin market prediction. The Top 200 Equal Weight Index was used by the analyst to support his claim that the market has bottomed out and that a potential altcoin rebound is imminent.

The Top 200 Equal Weight Index monitors and compares the price performance of the top 200 cryptocurrencies based on their market capitalization. Fewer altcoins do better than Bitcoin as a percentage, according to a lower numerical value from this statistic.

Comparatively, a higher reading means that, as a percentage, more cryptocurrencies do better than Bitcoin. Coutts predicted that the metric would be between 10 and 20 percent at the time. Popular cryptocurrency trader “Mags” stated that the altcoin market is presently going through a re-accumulation phase. The trader stated that since altcoins emerged from a protracted accumulation phase, they had only gained 58% on average, indicating that the digital assets were only slightly declining before seeing further rises.