Despite the threat of another crisis looming over the financial markets and the drawdown of the price of most digital assets, cryptocurrencies still took bullish positions on some altcoins: SingularityNET (AGIX), Polygon (MATIC) and Render (RNDR) have recently attracted significant funds from large investors. If we take into account historical data, these actions can become a catalyst for a large-scale increase in the price of the listed tokens.
AGIX Whales Support the hype around AI
SingularityNET (AGIX) first came to the attention of investors during the January AI boom. While most of the AI tokens that showed impressive growth at the beginning of the year disappeared from the radar, AGIX only strengthened its position in the market.
In the period from May 11 to May 25, whales holding balances from 1 million to 10 million tokens actively accumulated coins.
It is worth noting that this cohort of whales accounts for 65% of the volume of the circulating supply of SingularityNET. This suggests that they can easily provoke another price rally.
Investors believe in MATIC again
The native token of the second-level blockchain (L2) Polygon is going through hard times: in the first 12 days of May, its price fell by 17%. However, after reaching a recent local low of $0.83 on May 11, MATIC managed to win back the drop — mostly thanks to whales with balances from 1 million to 100 million tokens, who purchased 11.4 million coins in the period from May 16 to May 25.
If this trend continues, Polygon holders can expect the current upswing to escalate into a prolonged bullish rally.
Major players are eyeing the RNDR
Like SingularityNET, Render first appeared on the radar during the AI season in January 2023 and continued to gain momentum in the second quarter. Therefore, it is not surprising that RNDR still attracts the attention of strategic investors.
The actions of major players contributed to the achievement of a new annual maximum of $ 2.67— thus, since the beginning of the year, RNDE has demonstrated an amazing growth of 575%. If cryptocurrencies continue to buy, the asset will probably continue to rally in June.
