Briefly

• although the global crypto market cap has decreased by 9% since May 2023, crypto whales have already begun to accumulate these altcoins.
• Whales are focusing on AI-based altcoin projects despite the fact that the majority of altcoins have suffered losses in May.
• This month, notable altcoins like Quant (QNT), The Graph (GRT), and SingularityNET (AGIX) have caught the attention of crypto whales.

In the first twelve days of May, the cryptocurrency market experienced a negative correction of 9%. In any case, on account of the extraordinary whale movement in the altcoin market, the worldwide crypto market capitalization figured out how to recapture 3% before the end of the month.

On-chain data reveals that cryptocurrencies like Quant (QNT), The Graph (GRT), and SingularityNET (AGIX) have attracted whale attention, and the positive performance in the altcoin market was a key factor in the cryptocurrency market resurgence in the second half of May.

It would appear that major institutional investors have restarted to buy into the AI hype in light of the bullish sentiment surrounding the crypto AI space. Obviously, two simulated intelligence related projects arose among the top gainers somewhat recently of May.

Will this whale aggregation craze set the rhythm for these altcoins to energize in front of June?

Crypto Whales are Regaining Confidence in Quant

The price of Quant (QNT) experienced a difficult start to May, falling 14% in the first 26 days. In any case, an unexpected spike in whale collection seems to have prodded a last-minute meeting.

More specifically, it appears that the price recovery mission is being led by a group of whales with balances between 10,000 and 100,000 QNT.

As seen below, they bought another 400,000 QNT tokens worth approximately $46.4 million between May 23 and May 31.

Astoundingly, the Santiment graph above features how Quant value started to ascend around May 26, only three days after the whales began purchasing.

Consequently, on the off chance that this pattern proceeds, Quant (QNT) holders can expect the continuous value rise to develop into a delayed bull rally in June.

AGIX Whales are Keeping the AI Hype Going

Once again, crypto whales are riding the AI wave. After the simulated intelligence blast in January 2023, the promotion blurred for some tokens. SingularityNET (AGIX), on the other hand, appears to be leading the AI rally’s second wave.

Around the end of April, crypto whales began purchasing AGIX. According to on-chain data, they have resumed buying after a brief period of profit taking at the beginning of May.

Whales with a balance of one million to ten million AGIX tokens have made significant gains between May 16 and May 31. They added another 24 million AGIX to their balances during that time, as shown in the chart below.

The newly added tokens are worth nearly $7.2 million at the current market price of $0.30. In particular, this group of whales is responsible for 68% of the AGIX supply that is currently in circulation.

This suggests that if they keep buying, they could almost cause a second price rise for AGIX on their own.

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Large Investors Are Still Eyeing The Graph (GRT) Token

The Diagram is another man-made intelligence related symbolic that arose as one of the top gainers somewhat recently of May. Obviously, the GRT token is still additionally the consideration of key whale financial backers.

Between May 23 and May 31, crypto whales holding adjusts of 10 million to one billion GRT tokens added 70 million GRT tokens to their property.

The crypto whales’ new investment is approximately $9.3 million at the current market value.

GRT could enter a prolonged rally if the whales continue to buy in June, given the recent buzz surrounding AI tokens.

Additionally, crypto whales have a significant impact on the ecosystem of the blockchain. They have a lot of money and a lot of liquidity, so they can have a big effect on how much these assets will cost in the future.

Therefore, strategic investors will naturally keep an eye out for these altcoins in June.