After a long period of consolidation, cryptocurrency activity has accelerated this week, with the global cryptocurrency market capitalization increasing by 2% over the same period.

This new momentum has driven large investors to accumulate some altcoins. Ripple (XRP), Litecoin (LTC), and Toncoin (TON) are among the assets that have seen increased whale activity.

Ripple (XRP)

Ripple's XRP has seen an increase in whale activity this week. According to Santiment, large investors holding between 1,000,000 and 10,000,000 XRP tokens have bought 180 million tokens worth over $590 million at current market prices in the past seven days.

In addition to the improving market sentiment towards XRP, the accumulation activity of whales is also partly driven by reports that President-elect Donald Trump is considering establishing a "strategic priority reserve of the United States" consisting of cryptocurrencies, which is said to include XRP and many other assets.

Furthermore, despite the U.S. Securities and Exchange Commission officially appealing in the legal battle against Ripple Labs, XRP whales continue to buy the cryptocurrency. This development has not dampened investor enthusiasm for Ripple's XRP, which reached an ATH on Thursday.

Litecoin (LTC)

Litecoin (LTC) is another cryptocurrency asset that has attracted the attention of cryptocurrency whales this week. Over the past seven days, LTC whales holding over 10,000 coins have bought 300,000 LTC worth over $41 million.

This trend is driven by optimism about the potential approval of a Litecoin ETF in the U.S. Canary Capital's recent amendment of its S-1 filing with the Securities and Exchange Commission (SEC) on January 15 signals progress in making this approval a reality.

If this trend continues, LTC prices could rise to $147.

Toncoin (TON)

Toncoin (TON), the Telegram-affiliated altcoin, is one of the cryptocurrencies favored by crypto whales this week. This is reflected in the 1048% surge in the net flow of large holders over the past seven days.

Large holders are whale addresses holding more than 0.1% of a asset's circulating supply. When their net flow increases, they have accumulated more than they have sold during the evaluation period.

If TON whales continue to buy this altcoin, the price could rise to $6.

FOLLOW US ON FACEBOOK | TELEGRAM | TWITTER