- Whales actively increase holdings in XRP, Solana (SOL), & Hyperliquid (HYPE).
- Market indicators suggest potential altcoin season start as Bitcoin dominance sees a decrease.
- Substantial XRP movements & Ripple’s Circle deal capture crypto investor attention.
Crypto experts believe altcoin season could be starting soon. A few weeks ago, Ethereum’s price surge gave altcoins a short rally, but things cooled down quickly. Now, signs of a market uptrend are showing again, with altcoins slowly gaining strength as Bitcoin’s dominance drops. While a full bull run isn’t confirmed yet, many are hopeful for June.
One reliable hint comes from whale activity — when big investors quietly start buying certain coins, it usually means something big is coming. Recently, Altcoin Buzz pointed out three altcoins that whales are actively picking up right now.
XRP: Increased Whale Focus Follows Circle Acquisition Announcement
XRP has stayed in the spotlight for years because of its long legal fight with the U.S. SEC. While most of the case is settled, a few parts are still left. Recently, Ripple revealed plans to buy Circle — the company behind USDC, one of the biggest stablecoins. This deal, worth around $11 billion, could help Ripple grow its presence in the stablecoin market.
As expected, whales are taking notice. Huge amounts of XRP have been moved in recent weeks, including a single transaction of $567 million worth of XRP from Kraken to an unknown wallet. Another whale scooped up 10 million XRP on Bitfinex. XRP, now, is down by more than 2% trading at $2.28.
Related: One Is Fast, the Other Is Big: SUI vs SEI Explained
Solana (SOL): Market Resurgence Draws Whale Investments
Solana (SOL) has had its fair share of ups and downs. After peaking at $262, SOL fell dramatically to around $105 in just three months. But as always, Solana bounced back and is now trading near $172.
Over $175 million has been bridged from other chains to Solana, and Circle minted $1.5 billion of USDC on the network in the past month alone. Naturally, this resurgence has caught the eyes of whales, with nearly $485 million worth of SOL moved around in large transactions recently.
Hyperliquid (HYPE): Token Gains Traction with Whales Despite Earlier Setback
Lastly, there’s Hyperliquid (HYPE), one of the trending projects in recent months. The platform made headlines in March when a whale’s risky trades on a memecoin caused a $12 million loss for Hyperliquid.
Related: XRP or Solana: Where Is Legendary Trader Peter Brandt Placing His $100K Bet?
Despite this, the HYPE token quickly recovered. From about $10 in early April, it surged past $37, closing in on its all-time high of nearly $40. In fact, it’s now just a few percentage points away from setting a new record. Over the past two days alone, five whales purchased $27.8 million worth of HYPE, with three more adding another $5.3 million today.
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