Bitcoin (BTC) Struggles to Recover as Whales Favor These Altcoins: Insights from Nansen Data

• As Bitcoin begins to recover, whales have increased their purchases of ZENT, COMP, IMX, and PEPE, according to Nansen data.
• After the decline that started in April for Bitcoin and altcoins, the BTC price fell to levels around $56,500 in the first days of May.
• Following this decline, a recovery was observed in BTC and altcoins, and the BTC price approached the $62,000 limit.

Whales have increased their purchases of ZENT, COMP, IMX, and PEPE as Bitcoin begins to recover, according to data from on-chain data tracking platform Nansen.

Whales Turn to Different Altcoins

As the market recovers, whales have turned their attention to different altcoins. According to Nansen data, ZENT, COMP, and IMX were among the altcoins most purchased by whales.

Most Purchased Cryptocurrencies

In the list of most purchased cryptocurrencies, USDC took the first place, followed by ZENT in second place, COMP in third place, and IMX in fourth place. Whales also made significant purchases of PEPE, WBTC, ETHFI, and DOG.

Investment Volume

USDC recorded an inflow of $48.3 million in the last 24 hours, while ZENT recorded $17.5 million, COMP $5.4 million, IMX $2.3 million, and PEPE $1.1 million.

Conclusion

As Bitcoin begins to recover, whales are increasing their investments in various altcoins. With USDC leading the pack, other altcoins such as ZENT, COMP, and IMX are also seeing significant inflows. This trend suggests a positive outlook for these altcoins in the near future.