As a result of the market decline, many crypto whales have been on a buying spree since the beginning of 2023. They have spent millions of dollars buying tokens that could see more price gains in the future. Three tokens that are at the top of their list are Monero, Avalanche, and Kangamoon. In this article, we will find out why.
Monero (XMR) Faces Heat From Regulators and Exchanges
Monero (XMR) is a privacy digital coin that gained popularity in 2014. Currently, it is one of the top privacy coins in the decentralized finance (DeFi) sector. Experts believe that XMR is a good investment in the long run because of its privacy features.
They forecast an increase in the adoption of Monero as more people begin to value privacy. However, the price of Monero has dropped in recent years to a low of $146 in September due to scrutiny from regulators. Several crypto exchanges have removed privacy coins like Monero from their platform.
Some of the exchanges include Binance, Kraken, Huobi, and Bittrex. This positions Monero as the #25 cryptocurrency by market cap, giving it a strong standing within the overall cryptocurrency ecosystem. As a result, analysts foresee a price recovery to $170 in the coming months.
Avalanche (AVAX) Launches a Developer Academy
Avalanche is a decentralized, open-source proof-of-stake blockchain with a smart contracts function. AVAX is the native cryptocurrency of the platform. Recently, the Avalanche network celebrated its 3-year mainnet anniversary with over 1 billion transactions.
On September 20th, Avalanche announced the launch of Avalanche Academy. The aim of this academy is to educate developers on how to create the next generation of blockchain applications that will work on the Avalanche consensus.
Meanwhile, Dreamus, a Korean entertainment giant, wants to launch a ticketing platform using Avalanche and SK Planet’s UPTN Subnet. This development Will Increase the usage of the Avalanche network and perhaps its native token. Despite these developments, the price of Avalanche crypto has dropped 12.7% in the past month to a low of $8.91 in September.
Kangamoon (KANG): A Community-Driven Gaming Platform
Monero and Avalanche are not the only tokens whales are after in 2023. Also, whales have shown high interest in the Kangamoon presale. Kangamoon is a special project that brings together members of two different communities with several utilities and benefits.
The project aims to bridge the gap between the meme coin and blockchain gaming space. Kangamoon is currently building a digital world called Kangaverse. This ecosystem features elements of both spaces, maximizing the excitement of the virtual world.
Payers will be able to play games, do tasks, and enter contests to win prizes and virtual money in the digital world. Then, they can trade these items on the Kangamoon marketplace for real cash. SOLIDProof has checked Kangamoon’s smart contracts to ensure the platform is safe for users.
Experts are bullish about the Kangamoon project and see it topping big meme coins like Shiba Inu and Dogecoin. Currently, Kangamoon is selling its KANG token at a low price of just $0.005 each. Experts are optimistic and see the price going up by 220% in the next few months.
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