Why Are Whales Shifting Their Attention to These Altcoins: Kaspa, Plutochain, XRP, and Solana

XRP whales have bought tokens worth $2.17 billion and it could be the beginning of a major surge for Ripple.

Solana (SOL) also saw a 34% rise over the past month, pushing its market cap to over $114 billion.

Meanwhile, PlutoChain ($PLUTO) could also gain attention as a new Layer-2 project that may enhance Bitcoin’s network by finally adding smart contracts to it.

Let’s check out all the details.

PlutoChain ($PLUTO) Is a New Robust Project That Could Enable Smart Contracts on Bitcoin’s Network with a Hybrid Layer-2 Solution

PlutoChain ($PLUTO) is working on a Layer-2 solution that could bring smart contracts and decentralized apps to Bitcoin’s blockchain – potentially activating its full potential.

Its testnet, already handling over 43,000 daily transactions, showcases its scalability and the potential for mass adoption.

From the very beginning, PlutoChain focused on community governance, allowing users to have a say in protocol upgrades and the network’s direction.

Trust is also a priority for PlutoChain, having successfully passed audits from SolidProof, QuillAudits, and Assure DeFi, making sure it’s reliable for everyday users and developers.

Another major plus is its compatibility with the Ethereum Virtual Machine (EVM), which could combine Ethereum’s flexibility with Bitcoin’s robust security and make migration a lot easier.

This could allow Ethereum-based applications to seamlessly integrate with Bitcoin, opening doors for DeFi, NFTs, and AI-driven projects. It might also expand Bitcoin’s role in emerging technologies.

Technical Data Reveals What’s Driving Kaspa’s Surge Above $0.10

Kaspa (KAS) has recently surged above the $0.10 mark, reaching a new high of $0.1217.

Technical analysis indicates that KAS is testing resistance at the $0.14 level. A breakthrough above this point in the next few weeks could lead to more bullish momentum.

Key support levels are identified at $0.122998, $0.1177, and $0.1124, while resistance levels are at $0.137022, $0.145748, and $0.151046.

A YouTube channel Remit Trade suggests that if KAS maintains its position above the $0.14 support level, it may continue its upward trajectory.

Whale Activity Causes Market Discussions for Ripple – Can XRP Surge in 2025?

XRP is now trading at $2.21 as of December 19, 2024, with a slight dip in the last 24 hours. Notably, it’s still up by over 100% since the start of November, which means it’s rally is far from over.

It is currently testing resistance at $2.50, with the potential for further gains if this level is surpassed.

Key support levels are around $2.20, $2.09, and $1.89, while resistance sits at $2.50, $2.70, and $2.81.

Santiment reports that XRP wallets containing 1 million to 10 million tokens have boosted their holdings from 4.85 billion on December 15 to 4.95 billion as of today, marking a 100 million XRP increase in just three days.

At the same time, wallets holding between 100 million and 1 billion XRP expanded their balances from 8.86 billion on Sunday to 9.63 billion, accumulating an additional 870 million tokens.

Solana Also Surging in the Past 30 Days – Is SOL Set to Break Its All-Time High Soon?

Solana’s price is at $194.38, reflecting a 10.15% decline from the previous close.

Technical analysis shows Solana is facing resistance at $217.69. If it breaks through that level, it could continue climbing. Support levels are at $191.57 and $180, while resistance sits at $217.69 and $230.

Crypto analyst Cone Marchand says Solana could hit new highs if it breaks past $250 and even suggests that $900 or $1000 could be possible during this bull run.

However, concerns like regulatory issues, especially the SEC’s stance on Solana, and growing competition from other Layer-1 blockchains, could pose challenges.

The Bottom Line

While there is increased whale activity around XRP, SOL, and KAS, there aren’t a lot of factors right now that could cause a major surge among these tokens.

PlutoChain ($PLUTO), on the other hand, could generate substantial buzz with its Layer-2 technology, affordable transaction fees, and robust security.

In the next couple of weeks, as it prepares for its mainnet launch, it may be worth staying on top of it with the latest updates.

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Please keep in mind that this article is not financial advice. All crypto tokens are volatile, and trading involves risk. Always do your own research and consult a qualified expert before joining any crypto venture. Mention of any tokens in this article does not guarantee future performance. Statements regarding the future carry risks and are not assured to be updated.

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