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Which cryptocurrencies were purchased by whale investors in September?
Against the backdrop of low volatility in the Bitcoin and Ethereum exchange rates, traders' interest in other digital assets has grown, so we decided to find out which coins were purchased in September by active whales. During the first two weeks of autumn, wealthy traders actively invested money in: Ondo (ONDO); Official Melania Meme (MELANIA); MYX Finance (MYX). The cryptocurrency Ondo, issued by the eponymous DeFi, attracted investor interest due to the growing popularity of tokenized assets represented on this platform. People holding ONDO coins worth between $1 million and $10 million increased their token reserves to $23.8 million at the current exchange rate. As a result, ONDO rose by 18% over the past week.
The meme coin of US President Donald Trump's wife Melania, Official Melania Meme, has also caught the attention of the Chinese. Whales have increased their reserves of the coin by almost 4%, thereby pushing the token price up by 6%. However, it is worth noting that buying MELANIA carries a high risk because 81% of the issued digital assets are held in 100 crypto wallets, which allows the wealthy to easily manipulate the exchange rate of the virtual currency.
The price of MYX Finance, created by an exchange for trading cryptocurrency derivatives MYX, has surged more than seven times over the past week thanks to the listing of the digital asset on major platforms. The upward movement has been notably fueled by whales, each of whom invested no less than $1 million in MYX. In total, they invested around $1.6 billion in the digital asset and accumulated coins worth $9.7 billion at the current price. However, MYX, like MELANIA, is highly centralized, as 89% of the tokens are held by a fat wallet owning 100 wallets.