• Whales have been accumulating Ethereum (ETH), PancakeSwap (CAKE), and Uwerx (WERX).
• Ethereum (ETH) is an established blue-chip project, and whales believe buying Ethereum (ETH) at its current price will be profitably long-term.
• PancakeSwap (CAKE) provides hundreds of opportunities for investors to earn passive income through yield farming, while Uwerx will create the first decentralized platform for the gig economy that will disintermediate the business model.
Why Are Whales Investing in These Projects?
Whales understand market cycles better than average investors. They know that the bear market represents the best time to buy assets, and on-chain data shows that whales have been busy scooping up discounted projects specifically targeting three projects: Ethereum (ETH), PancakeSwap (CAKE), and Uwerx.
Ethereum (ETH) is an established blue-chip project representing a natural target for whales. It has occupied the second spot for years, and many believe that Ethereum (ETH) will retain this position. Whales believe buying Ethereum (ETH) at its current price will be profitably long-term due to its transition to proof of stake which cut down issuance of Ethereum (ETH) to miners drastically with EIP-1559 introducing a deflationary approach popular amongst whales.
PancakeSwap was launched in 2020 by anonymous developers, rapidly becoming one of DeFi’s most popular decentralized exchanges. The platform offers hundreds of opportunities for investors to earn passive income through yield farming, with whales continuing to buy and lock tokens despite depressed valuations providing a boost for core farms on PancakeSwap.
Whales are buying Uwerx aggressively as they sense it’s potential to disrupt the freelancing industry by introducing a decentralized platform with lower fees and more ways for freelancers to earn more through collaboration and gamification than traditional centralized platforms which charge high fees.
Whales have been busy accumulating discounted projects while they are still available at lower prices in anticipation of higher returns when markets recover. This article has discussed why whales have targeted three particular projects: Ethereum( ETH), Pancakeswap( CAKE ),and Uwerx( WERX ). All three projects offer unique value propositions which could lead them into profitable positions once markets rebound.