Top 5 Cryptos That Crypto Whales Prefer To Buy In 2023 - Our Picks
Bitcoin - There’s a reason why whales love to buy and hold BTC, the king crypto
Cardano - Crypto whales are planning to stack up on ADA and so should you
Ripple - One of the best underrated cryptos to buy in 2023
Shiba Inu - Bet on the most popular meme-coin in town
ApeCoin - Invest in APE in 2023 and reap benefits in the long run
A Closer Look At The Top 5 Cryptos That Crypto Whales Prefer To Buy In 2023
The crypto market has experienced some relief recently after the extended crypto winter. On-chain activity shows that whales are buying more coins because they believe retail investor capitulation has already occurred and the market could deliver impressive gains from the current low price levels.
Crypto whales are high-net-worth individuals or institutional investors that hold large amounts of cryptocurrency holdings.
This guide will discuss the top cryptos that whales prefer to buy in 2023.
Bitcoin
Bitcoin is the first and largest cryptocurrency in the world, with a market cap of over $360 billion. This peer-to-peer online cryptocurrency has attracted interest from major financial institutions.
For Bitcoin, a whale is an investor that holds 1,000 or more BTC tokens. The crypto whales tracker indicates that whales hold nearly 40% of the available BTC tokens.
It is rumored that the inventor of BTC, Satoshi Nakamoto, holds between 75,000 to 1 million BTC. After the rising popularity of Bitcoin, several organizations have started adding this token to their balance sheets.
MicroStrategy, a business intelligence company, holds the largest amount of Bitcoin in any organization worldwide. Bitcoin reached an all-time high (ATH) of $70,000 in November 2021 but has lost more than half its valuation. With a current price of $19,119, Bitcoin is one of the top 5 cryptos whales prefer to buy now and in 2023.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Cardano
Popular decentralized blockchain platform Cardano uses proof-of-stake (PoS) consensus to run its operations. The platform has deployed smart contracts to enable the development of multiple DApps (Decentralized Applications) and Defi protocols on its network.
Cardano has always been one of the most popular blockchains in the market. However, its popularity reached a new level when the Cardano Foundation introduced the Alonzo hard fork last September, bringing smart contracts to the blockchain.
Data shows that over 79.1 million ADA tokens have been purchased by whales. We expect to see this coin urge in value in 2023, making now the best time to buy ADA.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Ripple
XRP is the native token of an open-sourced and permissionless protocol, Ripple. Using blockchain technology, Ripple aims to be the leading crypto solutions provider for businesses. Ripple offers transparent, quicker, and cost-effective solutions for businesses and financial institutions when processing transactions on a global scale.
The decentralized platform can facilitate transactions for fiat currencies, popular cryptocurrencies like Bitcoin, and even various commodities. XRP acts as a low-cost provider, charging only $0.0002 per transaction. Furthermore, transactions with XRP take only 2-5 seconds to process.
For these reasons and more, crypto whales prefer to buy XRP in 2023 and HODL it over the long term.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Shiba Inu
Shiba Inu, the cryptocurrency that started as a joke, is now rocking decentralized finance. From being an unfamiliar memecoin to becoming a major competitor for Dogecoin, SHIB has come a long way. However, the recent advancements in Shiba Inu are more impressive than ever before.
Many crypto whales, including Ethereum and Dogecoin big heads, are feasting on SHIB. While the cryptocurrency market is still recovering from the bear outbreak, Shiba Inu is comparatively doing well. Since its inception in 2020, Shiba Inu has been under the spotlight for doing well in the market.
The memecoin that represents itself as a ‘Dogecoin Killer’ became one in 2021. For a brief time, SHIB outperformed DOGE and even entered the top 10 cryptocurrency list. When SHIB recorded an all-time high in November last year, many investors reaped good benefits from that. However, besides the small investors, crypto whales play a big role in boosting the meme-coins price. According to data, a whopping 7-.52% of SHIB’s circulation is controlled by eight whale accounts.
Ethereum whales are constantly staking up their SHIB investments to yield a good profit when the cryptocurrency hit new highs. On the other hand, the burning events are also increasing in the Shiba Inu sphere to give an edge to the meme-coin's value. Experts believe crypto whales will continue to buy SHIB in 2023, making now a good time to buy the crypto.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Apecoin
A newer token currently being eaten up by whales is APE. Inspired by the Bored Ape Yacht Club NFT collection, Apecoin is a new Ethereum-based token for the Web 3.0 era. It was designed to fund and build new projects that are being developed by the community. Rounding out our list of cryptocurrencies that whales are buying is APE – the native token for the ApeCoin ecosystem.
The APE decentralized autonomous organization (DAO) launched APE early this year. The DAO handles everything concerning the APE ecosystem, including the Bored Ape Yacht Club (BAYC) NFTs, the Mutant Ape Yacht Club (MAYC) NFTs, and the Otherside metaverse.
We believe that the asset’s developers are making progress with building a sustainable universe. Earlier this month, 4,500 people were invited to the demo of the Otherside metaverse, and the reviews have been stellar.
By building a solid product, Yuba Labs and the APE DAO could have something to spur the adoption of APE. The recent price gains have also been encouraging.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
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