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<p>The post <a href="https://coinpedia.org/news/crypto-whale-accumulation-signals-major-altcoin-season-on-the-horizon/">Crypto Whale Accumulation Signals Major Altcoin Season on the Horizon</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency industry has experienced heightened volatility in the past few days as investors position their portfolios for maximum gain. <a href="https://markets.coinpedia.org/bitcoin/" target="_blank" rel="noreferrer noopener">Bitcoin</a> (BTC) price briefly rallied above $70k on Monday before quickly retracing below $68k on Tuesday during the early Asian session.&nbsp;</p> 
<p>While most of the altcoins led by <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">Ethereum</a> (ETH) slipped in the past 24 hours, speculation in the meme coin industry escalated.&nbsp;</p> 
<p>According to the latest crypto oracles, meme coin projects such as Pepe (PEPE), Bonk (BONK), dogwifhat (WIF), and Floki Inu (FLOKI) registered positive results in the past few days.</p> 
<h2 class="wp-block-heading" id="h-altcoin-season-at-hand">Altcoin Season at Hand</h2> 
<p>After months of speculation and waiting, Bitcoin dominance has signaled the beginning of the macro altseason. From a technical standpoint, Bitcoin dominance closed last week below the macro-rising trend, thus signaling heightened crypto cash rotation to the altcoin industry.</p> 
<p>Moreover, <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ethereum’s price</a> rallied more than Bitcoin’s in the past few weeks following the recent approval of spot Ether ETFs in the United States and Hong Kong.&nbsp;&nbsp;</p> 
<p>Additionally, the ETH/BTC pair is retesting the upper border of a falling macro channel, which could lead to a further rise.</p> 
<h2 class="wp-block-heading" id="h-crypto-whales-response-nbsp">Crypto Whales Response&nbsp;</h2> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f433.png" alt="🐳" class="wp-smiley" style="height: 1em; max-height: 1em;"> As <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> markets have teased another breakout to start the week, our freshly released insight covers the whale and shark accumulation of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>, <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>, <a href="https://twitter.com/hashtag/XRPLedger?src=hash&amp;ref_src=twsrc%5Etfw">#XRPLedger</a>, and <a href="https://twitter.com/hashtag/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw">#Chainlink</a>. Track key stakeholders, and optimize your portfolio accordingly: <a href="https://t.co/8l5RuU5VM2">https://t.co/8l5RuU5VM2</a> <a href="https://t.co/6nybeSEEVj">pic.twitter.com/6nybeSEEVj</a></p>— Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1795266152157122994?ref_src=twsrc%5Etfw">May 28, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
<p>According to an on-chain data analysis provided by Santiment, Bitcoin whales, with wallet balances between 10k and 10k BTCs, have declined in the last two months. Similarly, Bitcoin transactions valued at least $100k have significantly declined in the past two months.</p> 
<p>On the other hand, Ethereum wallets with at least 10k Ether have added nearly 22 million ETH units in the past 14 months. A similar behavior has been observed with XRP wallets, which have at least 10 million units in the recent past. Specifically, XRP wallets with at least 10M units have added 3.17 billion units in the past 16 months.</p> 
<p>Also Check Out : <a href="https://coinpedia.org/news/donald-trump-linked-crypto-wallet-soars-to-10-million-in-value/">Donald Trump-Linked Crypto Wallet Soars to $10 Million in Value</a></p>

Crypto Whale Accumulation Signals Major Altcoin Season on the Horizon

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