The market is absolutely horrible bitcoin just dropped into the $33,000 range, which is basically the last hope for this short-term period.
In the latest video, Conor Kenny, an expert in crypto, has highlighted some of the Ethereum whales’ top holdings. These are potentially the best altcoins to be held if we are heading into a longer-term bear market.
Bitcoin Technical Analysis
Bitcoin has dumped to the lowest price since January. We are in very dangerous territory, sitting at around $33,000. This would be the last time we would really bounce here. If we don’t hold that, we would head down to the $29,000 region, which was the low from May to July.
People may set stop losses at the $30,000 to $29,000 mark. We have to wait to see what will happen. Hopefully, we may have some good news come out in the CPI data meeting on the 11th of May. So that is a very important day. If we have good news come out or even neutral news, it’ll be very bullish for the market.
BTC Chart | Source: Youtube
Altcoins That Whales Are Buying
Ethereum whales are accumulating Apecoin (APE), Loopring (LRC), and API3. That’s being accumulated as we speak could be a very good opportunity.
ApeCoin (APE)
ApeCoin is an ERC-20 governance and utility token used within the APE Ecosystem to empower and incentivize decentralized community building at the forefront of web3. Apecoin may lead the pack very well. It is the front running hype altcoin that could indicate a new bull run.
Loopring (LRC)
LRC is the Ethereum-based cryptocurrency token of Loopring, an open protocol designed for the building of decentralized crypto exchanges.
Loopring would be another altcoin that’s also being stacked. An ethereum based token that allows for building decentralized exchanges and using zero-knowledge proofs. According to the whale, tracking service average Ethereum whale within a top 100 list has an average token quantity of 37,800 LRC tokens, worth $26,000.
API3 (API3)
And another one of these coins is API3. Smart contracts often struggle to access dependable data, but application programming interfaces (APIs) have been touted as a solution to this problem. The project aims to connect traditional application programming interfaces to the blockchain world.
We also have the streaming service orders token, the social token platform like Chiliz (CHZ), decentralized finance protocol yearn finance, and smart contract platform like Fantom (FTM).
Hopeful News
Google actually forming a web 3 team because they see tremendous potential in demand for technology support for crypto. This is just another step toward that global mass adoption.
Qualcomm CEO saying metaverse is going to be a massive opportunity going forward.
Instagram is going to support NFTs from Ethereum (ETH), Polygon (MATIC), Solana (SOL), and Flow (FLOW).
These are just another step towards the mass adoption of NFTs, which is definitely something that we want in this market.
Read more:
- The Best Way To Store Your Crypto In 2022, According to Brian Jung
- Top 4 Undervalued Altcoins On Sale That You Should Buy Soon