This month, the potential US debt ceiling crisis has loomed over the cryptocurrency markets. However, despite the mild contraction, crypto whales have been buying up certain altcoins.
Mega Cap Layer-1 coins have taken a considerable hit as the crypto market cap shrunk by 9% in May 2023. In response, Crypto whales appear to be switching attention to the altcoin markets.
On-chain data reveals that whales have recently been buying up cryptocurrencies like AGIX, MATIC, and RNDR.
Will this whale accumulation set the pace for these altcoins to rally ahead of June 2023?
AGIX Whales Are Keeping the AI Hype Going
SingularityNET (AGIX) first attracted mainstream media attention during the AI boom fuelled by the rise of ChatGPT in early 2023. While most AI tokens that rallied in January 2023 appear to have faded, the same cannot be said of AGIX.
Between May 11 and May 25, whales holding balances of one million to 10 million AGIX…
