Altcoins
3 Altcoins to Sell if Ethereum Hits $5K After ETF
Recent whale activity is shedding light on which altcoins to sell first if Ethereum hits $5,000 after the ETF launch. Bitcoin historically corrects after the halving event for about 145 days before the main bull run begins, which tends to last about 1.3 years. With less than 60 days left until the potential start of the bull market rally, here are 3 altcoins whales are bagging in July.
1. Altcoins for sale – XRP (XRP)
XRP is the native coin for the XRP Ledger, a blockchain designed to help financial institutions simplify cross-border payments using a fast and convenient network. Ripple Labs is the company behind XRP and XRPL. It has integrated several banking institutions so far and continues its crusade to integrate more.
Top Altcoins – xrp price chart
XRP price is trading around $0.5457, up 25.7% over the past 7 days. XRP Price is showing signs of a breakout that the entire cryptocurrency market has been waiting for. Since the Ripple-SEC lawsuit began in December 2020, the asset’s price has been suppressed below the 1 cent level.
The Ripple network has seen a surge in adoption following news that CME Group would be launching new daily benchmark rates and real-time indices for XRP and ICP starting July 29, 2024.
As a result, whales are rushing to buy the cryptocurrency, with one large operator purchasing 38 million ($20 million) XRP.
This comes as the Ripple-SEC case shows signs of coming to a close. Following the recent settlement between Terraform Labs (TFL) and the SEC, Ripple filed a lawsuit in court seeking a reduction in its fine. The fine was later reduced to less than $120 million. Along the same lines, the SEC dropped its investigation into Ethereum, after which the 19-4b ETFs were approved. The same process could play out for Ripple and XRP.
2. WAREHOUSE (TRUMP)
MAGA is among a slew of Trump altcoins that have mushroomed since the former U.S. president announced his candidacy for the November 2024 election. The cryptocurrency project also advertises itself as a charity, donating proceeds from its 1% on-chain tax on purchases, sales, and transfers to veterans and child sex trafficking prevention services across the United States. As of July 15, MAGA has donated $1.7 million to these causes.
TRUMP is the native token of the MAGA community and its price jumped nearly 50% from $6.34 to $8.03 over the weekend after an assassination attempt on Donald Trump. The price of TRUMP had been gradually increasing in anticipation of the upcoming Bitcoin 2024 conference in Nashville, where the former president was scheduled to give a 30-minute speech. After the attempt on his life, Trump said he would still attend the conference.
An analysis by Lookonchain and Arkham Intelligence found that Gigantic Rebirth’s (GCR) address, marked “GCR Address 1,” still holds over 936,000 TRUMP tokens and has generated over $6.5 million in profit.
This indicates that whales still hold this altcoin. After winning the debate and escaping assassination, his chances of winning the election may have just increased, and with them, the price of TRUMP.
3. Altcoins for sale – Chainlink (LINK)
Chainlink is the glue that holds most DeFi protocols together. Developed by Sergey Nazarov, Mesh sweater is a universal platform for blockchain builders and decentralized financial institutions. The main product of the Chainlink oracle network is the Cross-Chain Interoperability Protocol (CCIP), which enables the secure and reliable transmission of data and its value between different blockchain networks. As an oracle network, Chainlink services enable smart contracts to securely communicate with real-world data and services outside the blockchain network. This could impact the real-world assets (RWA), DeFi, AI, and even DePIN sectors.
Look on the chain just spotted a whale that secretly accumulated 12.75 million LINK ($167 million) across 93 different wallets in less than a month. Such a massive investment is a bullish sign for the cryptocurrency.
Chainlink price has increased by 2.5% over the past 24 hours, settling at $14.10. Chainlink Price Prediction shows strong support around $12.8, which could support the price if the market conditions turn bearish. However, before that happens, LINK is one of the altcoins to sell while waiting for the perfect entry position.
Link Chain – Major Altcoins
LINK’s Relative Strength Index (RSI) has just broken the midpoint, confirming an uptrend and increasing buying momentum. The Moving Average Convergence Divergence (MACD) indicator has also identified a bullish crossover, confirming a bullish reversal for LINK.
Conclusion
While Ethereum’s price potentially hitting $5,000 after ETF approval might seem like an exciting opportunity, it could also be a good time to reevaluate your altcoin investments. As Ethereum gains momentum, some altcoins may struggle to maintain their value or relevance. XRP, LINK, and MAGA are some altcoins to sell, allowing you to consolidate gains and potentially reinvest in more promising or stable assets.
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Frequently Asked Questions (FAQ)
In cryptocurrency, “whales” refers to individuals or entities that hold a large amount of a particular cryptocurrency. These holders can significantly influence the market due to the sheer volume of their holdings.
Altcoin, short for “alternative coins,” refers to any cryptocurrency other than Bitcoin, including Ethereum.
Yes, Ethereum is a good buy. Analysts predict that Ethereum price will surpass its all-time high when ETH ETFs launch.