New data released today by market analyst Phoenix Group listed top 10 cryptocurrencies that are in accumulation phase, indicating significant user interest in the tokens and their investment potentials.
This period is a market phase where investors are purchasing select tokens, suggesting upcoming price increases associated with the highlighted assets.
Top 10 Assets Facing Aggressive Accumulation
Hashflow (HFT)
Hashflow (HFT) is at the forefront of the list, according to the data. This happened this way because altcoin has the shortest accumulation period. As reported by the data, HFT has been in an accumulation period over the past five days. As of today, its market capitalization currently stands at $1.71 million.
Pudgy Penguins (PENGU)
Second on the list is Pudgy Penguins (PENGU), which has been in the accumulation phase over the past six days, highlighting investors’ trust in the NFT-focused crypto asset. The token currently holds a market valuation of $952.9 million. Its price currently stands at $0.01539, up 9.1% and 56.7% over the past week and month, respectively, showing its bullishness.
LeverFi (LEVER)
Next is LeverFi (LEVER), which has been in the accumulation zone over the past seven days. It is a period when market participants have been accumulating the asset at favourable entry points. This implies that the altcoin is preparing to experience a potential uptrend soon as investors continue buying the asset.
Movement (MOVE)
Movement (MOVE) is in the fourth place, meaning investors view it as a buy opportunity. The asset has been in the accumulation period over the past nine days. Today, its market cap is valued at $384 million and its price currently hovers at $0.1488, down 16%, and 7.1% over the past seven days and two weeks, respectively. This implies that traders have been capitalizing on the current price declines to accumulate massive tokens at discounts.
Velo (VELO)
Fifth on the list is Velo (VELO), which has also been in the accumulation period over the past nine days. This suggests increased confidence among crypto investors in the asset, buying it during the period. While the asset’s price has been down 3.4% over the past week, savvy investors timed the dip, accumulating tokens at discounts.
Other Leading Assets in Accumulation Wave
Other major tokens currently in the accumulation zone include HSK, SEI, GNS, AB, and T.
Hashkey (HSK), with its current $82.2 million market valuation, has been experiencing a ‘purchasing frenzy’ over the past 12 days. This shows aggressive accumulation by investors, indicating increased trust in the altcoin.
Moving down, savvy investors have also been buying Sei (SEI) over the past 13 days. Its powerful market valuation of $1.4 billion implies its continued buying interests.
Gains Network (GNS) is on the eighth place on this list. Traders have been piling up GNS tokens over the past 13 days.
Lastly, AB DAO (AB) and Threshold (T) closed this list. This shows their prominence as they have been in the accumulation phase for the last 15 days and 18 days, respectively.
