Whales activity went through the roof since Donald Trump won the elections—and they mainly targeted Ripple (XRP) and Solana (SOL).
Over the past few months, big investors have purchased around $177 million worth of XRP and over 250,000 SOL tokens, but what’s causing their interest?
What’s more, a new project, PlutoChain ($PLUTO), could see increased attention thanks to its innovative approach to DeFi.
Let’s see why whales are focusing on these particular projects.
Why Are Whales Focusing on Ripple and Solana?
Ripple’s XRP has been climbing the ranks of the crypto market. Recently, it became the third-largest cryptocurrency by market cap, overtaking major players like Solana and Tether’s USDT.
This rise is largely fueled by increased whale activity, with significant purchases driving demand — approximately $177 million worth of XRP, to be exact.
Ripple’s focus on cross-border payments and its recent legal victory against the SEC has only added to its appeal and made it a favorite among investors looking for stability and growth.
As of December 5, 2024, XRP is trading at approximately $2.41. This price reflects a significant increase from its all-time low of $0.002686 recorded on May 22, 2014, marking an impressive growth of about 89,700%.
Whale investors have been accumulating SOL as well, with reports of over 250,000 SOL tokens (valued at around $60 million) withdrawn from exchanges in the past month.
Known for its impressive scalability, Solana can process around 2,400 transactions per second, which is much more than many of its competitors.
This speed and efficiency have attracted whales who are drawn to its strong ecosystem of DeFi projects, NFTs, and dApps.
As Solana builds on its reputation as a high-performance blockchain, it remains a go-to choice for those seeking long-term returns.
As of December 5, 2024, Solana (SOL) is trading at approximately $237.56. This price reflects a slight increase of 0.6% over the past 24 hours.
The interest in Ripple, Solana and other projects shows that whales are increasingly looking for avenues to diversify their portfolios.
While Bitcoin and Ethereum remain staples in the crypto world, investors are increasingly looking to altcoins that offer strong utility, scalability, and real-world applications.
PlutoChain ($PLUTO) Could Redefine Bitcoin’s Role in DeFi With an Hybrid Layer-2 Feature
Another project to watch is PlutoChain ($PLUTO) - a groundbreaking Layer-2 solution that might revolutionize Bitcoin’s role in decentralized finance (DeFi).
While Bitcoin has long been a dominant store of value, it hasn’t been involved in DeFi. PlutoChain could change this by seamlessly integrating Bitcoin into the DeFi ecosystem.
The project plans to leverage Bitcoin’s unmatched security and enhance its capabilities to support smart contracts and decentralized applications (dApps).
Historically, Bitcoin has faced challenges such as high transaction fees and limited scalability, particularly during times of heavy network use.
PlutoChain could address these issues with an optimized transaction system designed to lower costs and improve scalability.
This advancement might make Bitcoin more practical for everyday use while expanding its potential applications across a range of industries.
Bridging Bitcoin and Ethereum
What really sets PlutoChain apart is its unique compatibility with the Ethereum Virtual Machine (EVM).
This feature could create a bridge between Bitcoin’s robust security and Ethereum’s versatile tools and allows for potentially seamless integration of Ethereum-based DeFi projects with Bitcoin’s network.
This way, developers could use the strengths of both ecosystems to build secure, scalable, and decentralized solutions.
Security is a core focus for PlutoChain. The platform has undergone a rigorous audit by SolidProof, a respected blockchain security firm, to ensure it delivers a safe and reliable experience for its users.
Is PlutoChain Worth Your Attention?
PlutoChain might tackle some of the blockchain industry’s biggest challenges, such as high fees and limited interoperability between networks.
By combining Bitcoin’s dependability with Ethereum’s adaptability, the project offers a fresh approach to solving these issues. It could redefine Bitcoin’s role in DeFi and lead the way toward a more interconnected and efficient blockchain future.
All of this might make PlutoChain an interesting project to watch in the coming months!
To learn more about PlutoChain’s vision, join the community on Twitter, Discord and Telegram.
The project values user feedback and ideas, so don’t hesitate to share your thoughts and be part of the conversation
Visit the links below to learn more about PlutoChain and its unique features:
Official Website: https://plutochain.io
X/Twitter Page: https://x.com/plutochain/
Telegram Channel: https://t.me/PlutoChainAnnouncements/
This article is purely informational and should not be interpreted as financial advice. Readers are encouraged to carry out their own due diligence. Predictions involve risk and may not undergo updates.
