Although BTC has experienced some sharp drawdowns this month, the price has rebounded quickly each time, due to strong fundamentals. Data from crypto analytics platforms such as CryptoQuant show that new crypto whales are accumulating large amounts of Bitcoin, while on-chain data shows that BTC active addresses are on the up.
So with Bitcoin firmly seated in the whales' portfolio, what else are they holding for this cycle? Data reveals that TRX and Cutoshi are the ones to watch, let’s find out why.
Bitcoin Prepares For A Move To The Upside
According to Quinten Francois on X, new BTC whales are accumulating a lot of Bitcoin, forming a very similar pattern to that seen before the massive bull run in 2020.
CryptoSlate explains CryptoQuant’s recent data release, saying,
“The amount invested by new Bitcoin (BTC) whales is up 13x this year to nearly $108 billion”. Not only that, but “the new whales have 48.8% of Bitcoin’s total realized cap, almost reaching the $113 billion paid by ‘old whales.’ “
Realized cap assesses Bitcoin's stored value by calculating each unspent output's worth at its last movement (UXTO). This metric offers a more nuanced view of Bitcoin's value than the traditional market cap, reflecting the actual price history of coins in circulation.
Moreover, Jamie Coutts on X, shared a graph showing that active Bitcoin addresses are up after an 11-month downtrend. He believes that BTC will experience a 2 - 2.5x from the current price of $61,000.
Tron Is Frequently Used In The ‘Real World’
Whatever your thoughts on (in)famous founder of Tron - Justin Sun, there’s no doubt that Tron has become one of the most important blockchains. While many L1 and L2s boast ever faster and cheaper transaction fees, Tron has been offering this for some time now.
Many people use Tron to move money around different crypto ecosystems. This has been happening since before the last bull run, when for example, people used the Tron network to bridge to games like the popular Axie Infinity, for just a few cents.
In recent news, The TRON DAO has just held a successful Builder Tour event at Columbia University. This 12-hour hackathon drew over 120 participants from various universities. Developers and TRON community members served as mentors, guiding students in creating decentralized applications across four categories: DeFi, Artistry, Integration, and Web3.
TRON DAO is also running HackaTRON Season 7, a competition to develop blockchain solutions on the TRON network.
As of today, TRON boasts significant user engagement, with over 263 million accounts and $16 billion in total value locked.
Cutoshi Combines Cuteness And Utility In Its Presale
Unlike Bitcoin and Tron, Cutoshi is a new player in the crypto world. And whales are betting on it becoming a big deal in the coming months and years.
Custoshi blends the fun and virality of memes, with the inherent usefulness of DeFi. Based on the Chinese Lucky Cat, popular in Japan and China, Cutoshi is said to bring luck to an investor’s portfolio.
But the Cutoshi team are relying on more than just luck, by building a decentralized exchange, a group farming project where people can earn CUTO and then harvest them for rewards, and a learning academy to help those new to DeFi, discover new ways to make money with crypto.
With over $330k raised in stage one of the presale, CUTO is now at stage two, bringing the total above $339k. As the token currently is at $0.022, and has several more presale stages to go, this coin could easily bring the biggest ROI of all three coins.
For more information on the Cutoshi (CUTO) Presale:
Join and become a community member:
https://twitter.com/CutoshiToken
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the viewsof Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
