As May approaches, crypto whales appear to be bullish on several altcoins: Cardano (ADA), Render (RNDR), Chiliz (CHZ), and Litecoin (LTC) have recently attracted significant funding from large investors. Based on historical data, these actions could catalyze large increases in the price of listed assets.
Cardano started April by updating its yearly high at $0.46. And although the recent market decline has caused the price of ADA to fall to $0.37, crypto whales are actively buying out the drawdown and preparing for another rally.
The Render token first appeared on the media radar in January of this year during AI hype season in the wake of the growing popularity of ChatGPT. While many other projects have fallen back into relative obscurity, Render has continued to gain ground in the second quarter of 2023.
Between April 9 and April 27, they purchased another 7 million coins worth about $15 million, bringing the price of Render to a new yearly high of $2.50 on April 28.
Chiliz is the native token of the Socios sports and entertainment ecosystem. The global football community is preparing for a busy summer, which is reflected in the price of the asset: CHZ has risen in price by 16% this week.
Crypto whales seem to want in on the action, with the yellow line in the chart below showing that they purchased 1.10 billion tokens worth almost $143 million between April 9 and April 28.
Thanks to increased liquidity and demand pressure from large investors, Chiliz is likely to post positive growth in May.
Litecoin Investors Are Accumulating Coins Ahead of Halving
The next Litecoin halving will happen in less than 100 days. As a result, the miners' reward for the mined block will be halved. The deflationary effect is likely to push the price of LTC higher in the coming months.
Crypto whales are actively preparing for an important event for the network: between April 20 and April 28, addresses with a balance of 100,000 to 1 million LTC bought another 4.53 million coins.
