Top Whales Are Buying This Crypto Even After Massive 200% Rally
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Retail investors have generally been the driving force behind the cryptocurrency market’s recent bounce, which has seen the total capitalization of the cryptocurrency industry climb back above $1 trillion dollars. However, recent research reveals that whales are now in the driver’s seat and are actively purchasing and trading crypto tokens–especially Fetch.AI (FET)–which comes out as one of the most utilized smart contracts among the top 100 ETH whales.
> FET’s Massive Whale Activity
FET is reportedly one of the top five altcoins that large wallet holders are more interested in purchasing and accumulating for the long term, as reported by WhaleStats, a leading whale activity tracker. In the past twenty-four hours, there has been a significant whale accumulation, which typically points to the possibility of an increase in price for the cryptocurrency as a result of a major event or the emergence of bullish technical indications.
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FET has reached new local and 2023 highs, with a rapid 20% intraday rise that brought the price to above $0.30. The price increase comes on the heels of “AI” currently setting the trend in the cryptocurrency market, following the rise of AI tools like ChatGPT and others. Not only Fetch, but also a number of other AI-based cryptocurrencies, such as SingularityNET, Ocean Protocol, and Phala Network, have all seen tremendous growth in the previous week and over the past few months.
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