Currently, ONDO, Gnosis, and Safe are leading the accumulation charts. The market capitalization of cryptocurrency is currently concentrated on many assets that have arrived at the phase analysts call the Accumulation Zone. This stage is followed by higher trading activity and low fluctuations, which might indicate that ‘whales,’ or major investors, are accumulating positions silently.
TOP ASSETS IN THE ACCUMULATION ZONE
$ONDO $W $CKB $SAFE $CHZ $GNO $XDC $ID $OSMO $ZETA pic.twitter.com/VPHluZ656v— PHOENIX – Crypto News & Analytics (@pnxgrp) October 29, 2024
Ondo Leads the Pack with Strong Market Cap
For now, Ondo (ONDO) sits on the top of this list, with an approximate market capitalization of $1.03B. The asset’s value has dropped by 5.01% in the past week. This is underlined by Ondo’s very strong market capitalization, which shows the investment community’s confidence and could be occasioned by whales who might have bought more after the slight dip in price. Ondo being ranked the best could signal that it may benefit from such accumulation and hence has a high tendency to make more profits in the future.
Gnosis and Safe Show Promising Growth Potential
Gnosis (GNO) and Safe (SAFE) have increased in price in the past week. The token that has risen in value more dramatically is Gnosis, with a price increase of 14.22%, which now boasts a market cap of $555.05M. This rise may suggest an increasing demand for Gnosis’s DeFi products.
Likewise, Safe has shown a 10.90% price hike, putting the token among the most successful in this list with a market capitalization of $585.70M. This is particularly true regarding Safe’s security and smart contract services, which have seen increased demand by DeFi.
ZetaChain Gains Attention from Whale Investors
ZetaChain (ZETA) completes the top list with a market capitalization of $292.90M, but its price has decreased by 6.49% in the week. The idea of a capable blockchain network with multi-chain systems has also caught the attention of investors looking to invest in such systems. The latest price loss could have led whales to amass more tokens because multi-chain systems are set to become vital in developing Defi.
Chiliz and Osmosis Face Market Pressure
Some of the tokens on the list have experienced positive price moves, while others, like Chiliz (CHZ) and Osmosis (OSMO), have suffered heavy losses over the week. Chiliz has a market cap of $566.37M and has been on a downturn and has dropped by 14.12%. Sport and entertainment token leader Chiliz may rebound if accumulation from the sports technology category becomes stronger from investors.
Within the mentioned list, the largest decline has been registered by osmosis, which has decreased by 15.41% during the past week. Its market capitalization remains at $308.61M, and whales continue to watch, most likely because it has untapped potential within the DeFi sphere.
Wormhole, Nervos Network, and Space ID
One of the products recognized for its cross-chain messaging protocol that unites multiple blockchains is Wormhole, whose market capitalization amounts to $ 663.41M. Meanwhile, Nervos has a market capitalization of $601.75M and a weekly loss of 7.82%. Following up, Space ID has a market capitalization of $313.91M, even though its token has declined 0.26% within the last week.
Since the current value of these assets is relatively low, the accumulation phase indicates that the market believes these ecosystems will have much higher value in the future. Only time will tell whether these accumulation trends will lead to price rallies; however, the signal is that these assets are very much in the sight of the market makers.
