Top cryptocurrencies with growth potential
How to make money on cryptocurrency by investing in Altcoins
Altcoins have long become an integral part of the cryptocurrency world, and many of them have huge growth potential, especially ahead of the altseason.
However, to make successful investments, it’s important to understand which projects are attracting the attention of major holders, whose actions can significantly influence their value.
How to find altcoins with potential
This is where on-chain analysis from ArbitrageScanner comes to the rescue. It is an effective tool that allows you to track asset movements on the blockchain, identify large investor activity, and make more accurate forecasts.
Our service provides a wide range of on-chain analysis products, helping investors and traders identify promising altcoins and predict their potential future behavior based on the actions of large holders.
Bitcoin dominance chart
One of the key indicators to pay attention to when analyzing the cryptocurrency market is Bitcoin dominance:
Bitcoin dominance is the ratio of Bitcoin’s market capitalization relative to the entire cryptocurrency market.
Traditionally, when Bitcoin dominance is high, altcoins remain in the shadows, as the primary attention and funds are directed toward the largest cryptocurrency. However, a decline in Bitcoin's share often signals the start of altseason, when liquidity begins to flow into alternative assets.
What is liquidity in cryptocurrency
Liquidity is the amount of funds that can move freely within the market. In the context of altcoins, an influx of liquidity can significantly affect their value. The more liquidity an altcoin has, the easier it is for market makers to adjust their price.
Currently, Bitcoin dominance (BTC.D) is at extremely high levels, and its decline may indicate the approach of significant changes in the altcoin market.
Top promising altcoins of 2024
Using our products, we have compiled a list of top altcoins that are attracting the attention of major market players and are likely to show significant growth in the upcoming altseason.
NOTE: This is not financial advice! We are showcasing the actions of large capital in relation to certain assets. Always do your own research (DYOR) before making any purchase.
In our altcoin list, we rank the assets by their market capitalization — from the largest to the smallest. This will help you assess not only the growth opportunities but also the potential risks.
Chainlink (LINK): a key role in the DeFi ecosystem
Chainlink (LINK) is a key project that provides a connection between blockchains and real-world data.
Thanks to its decentralized oracle network, LINK helps blockchains obtain accurate and reliable information from the outside world, making it an essential component of the DeFi ecosystem and smart contracts.
Today, Link is trading at a correction from its all-time highs (ATH) of -80%, and its current price is $10.46:
Since June, whales have been actively accumulating this asset. In fact, whales have received LINK worth $38.5M:
You can explore the mass wallet analysis yourself – here
TIP:
Bulk wallet analysis is a service that allows you to analyze the actions of multiple traders simultaneously.
Key features of the mass analysis service include:
Monitoring changes in total assets on balances;
Saving time by analyzing the actions of several market participants at once;
Enabling prompt reactions to suspicious activity;
Identifying connections between different addresses.
You can find this section by following this link.
The average purchase price for whales, based on the price at the time of acquisition, is $10.77:
Uniswap (UNI): The role of large holders in decentralized trading
Uniswap (UNI) – is the leading decentralized exchange (DEX), allowing users to directly swap tokens without intermediaries.
Thanks to its unique automated liquidity model, Uniswap revolutionized cryptocurrency trading, making it more accessible and transparent.
Currently, Uniswap is trading at $6.58 with an 85% correction from its all-time high (ATH):
After a thorough analysis, we discovered that a large early holder controls UNI valued at $371M:
You can explore the bulk wallet analysis yourself here.
To identify connections between addresses, we examined the transaction details of UNI on wallet 0x471:
TIP:
To track wallet activity for a specific altcoin, use the token-specific page.
Access the token-specific page by clicking on the altcoin ticker from the transaction history or portfolio:
The token-specific page contains information about wallet activity for that coin, its statistics, a price chart, and verified links for more details.
Thus, after receiving UNI worth $1.15B in 2021, the owner transferred the tokens to other wallets.
To verify whether these were not exchange wallets, we used the search bar and entity indication on the main dashboard:
TIP:
Use the search bar to check addresses from the transaction history.
The search bar allows you to quickly check an address without leaving the service page.
To use the search bar:
- Copy the wallet address from the transaction history
- Press the F key
- Paste the copied address into the pop-up field
- Press Enter, and you will be redirected to the address page
When analyzing a wallet, ensure it is a private address and not an exchange.
The entity indication of a wallet is located next to the address on the main dashboard:
As a result, one entity holds 5.6% of the total supply or 56.6M UNI! Moreover, the assets haven't been moved from the wallets, even during UNI's 180% local price surge:
Jasmy (JASMY): Data Privacy and Growth Potential
Jasmy (JASMY) is a blockchain platform from Japan that focuses on data protection and decentralization. It provides users with control over their personal information, allowing them to safely manage and monetize their data. This makes Jasmy a significant project in the Internet of Things (IoT) and digital privacy space.
The current price of Jasmy is $0.02. Accumulation lasting over 600 days has led to a local asset increase of +630%:
Despite this, the balances of a large holder have remained unchanged, holding $219.5M in JASMY tokens:
You can explore the bulk wallet analysis yourself here.
Analyzing JASMY transactions on the dedicated token page, we identified common behavior patterns, including receiving tokens from a centralized exchange, Coinbase, with matching transaction times and dates:
7.12B JASMY, or 14% of the total supply, is held by one entity. Notably, active token purchases were made during the accumulation phase and have not been sold yet.
Ondo (ONDO): Yield Management and Decentralized Finance
Ondo (ONDO) is a crypto project offering innovative solutions for yield management. It provides users with access to structured financial products on the blockchain, allowing flexible risk and return allocation, making DeFi investments more predictable and adaptable for different types of investors.
ONDO is currently trading at $0.62, with a 58% correction from its peak:
Four wallets owned by the influential Pantera Capital fund hold an estimated $198.5M worth of ONDO:
You can explore the bulk wallet analysis yourself here.
Despite a 553% increase in ONDO price after listing:
Pantera Capital fund still holds 345.6M ONDO, or 25% of the current supply.
TIP:
When analyzing wallets, pay attention to the entity label and tags (or marks) that indicate the origin of the owner:
Wallet entity is a signature or identifier that links the address to a specific organization, such as a fund, exchange, or public figure (celebrity).
To ensure that all wallets belong to the fund, even if they are not signed, you can check the transaction table in the Wallet Analysis section.
For example, wallet 0x0d3 does not have a signature. However, if you check the transaction table, you may find a connection with a wallet that has an entity signature:
TIP:
Transfers - a list of wallets by transaction type (incoming or outgoing) with which interactions have occurred.
Large capital often uses multiple wallets to store its assets.
OriginTrail (TRAC): leader in the new DeSci industry
OriginTrail (TRAC) — is a blockchain platform associated with the decentralized science (DeSci) industry, focusing on data verification and supply chain tracking. TRAC provides transparency and trust, allowing secure exchange of scientific and commercial data in areas such as logistics, research, and manufacturing.
The TRAC altcoin is currently valued at $0.53 and has corrected by -65% from its local highs:
An early holder began withdrawing the asset from Coinbase to their cold wallets starting in 2021.
Moreover, they made additional purchases during the accumulation phase, which lasted over 500 days. Despite a +600% increase in TRAC, the early holder has not sold any:
Using 7 of their wallets, the early holder maintains tokens worth a total of $22.6M:
Examine the bulk analysis of wallets yourself — here
To ensure that we are indeed dealing with a single owner, let's check the activity on the token on a separate page of the two wallets:
Thus, all deposits to the wallets came from Coinbase within the same time period.
As of today, significant capital holds 45.5M TRAC or 9% of the total coin supply.
Centrifuge (CFG): tokenization of real assets in DeFi
Centrifuge (CFG) — is a platform that connects the real world with decentralized finance (DeFi). Centrifuge allows converting real assets, such as invoices and real estate, into tokens, making them available for use in DeFi protocols, which helps businesses raise funding outside traditional banking systems.
The value of Centrifuge is $0.33, with a correction of -86% from the previous cycle:
A whale holds CFG worth $3.78M across 8 wallets:
Examine the bulk analysis of wallets yourself — here
To ensure that the addresses are indeed owned by a single entity, check the CFG transaction history on a separate asset page.
For example, let's consider the first two wallets from the list above (Figure 22):
We can see that different wallets received assets from the same exchange and for the same amount via a multi-transaction. Moreover, these purchases were made relatively recently.
TIP:
Multi-transaction — is a single operation that includes multiple transfers, either to different addresses or multiple transfers of the same asset, which helps save on fees and time.
Tellor (TRB): decentralized oracle network
Tellor (TRB) — is a decentralized oracle network that provides blockchains with access to reliable external data. TRB enables smart contracts to receive accurate off-chain information, making it crucial for DeFi applications where data such as asset prices is critical.
The price of TRB is $61.7, with a correction of -90% from its peak values on December 31, 2023:
Manipulation from last year, during which the asset showed a growth of +4367%:
Does not diminish the current interest of large capital in this asset.
Thus, whales are actively accumulating the altcoin, and their total holdings in TRB amount to $14.87M:
Examine the bulk analysis of wallets yourself — here
Moreover, among this list (Figure 26), there are holders who received the asset before the December pump and exhibit similar behavioral patterns.
For instance, wallets 0x1dc and 0x5a3 received assets at the same time from Coinbase:
Alchemy Pay (ACH): Crypto Payments and Traditional Finance
Alchemy Pay (ACH) — is a crypto payment platform that bridges traditional finance and cryptocurrencies. ACH simplifies the use of cryptocurrencies for everyday payments, allowing easy conversion into fiat currency, which makes crypto payments accessible to businesses and users worldwide.
The current price of ACH is $0.019. The correction from the peak of the last cycle is -90%:
Assets worth $8.03M are held by one large capital holder:
Examine the bulk analysis of wallets yourself — here
Comparing the activity with ACH token among the wallets from Figure 29, a clear conclusion was made that the wallets belong to one owner who received funds from the same exchange at the same time. Often for equal amounts:
Accumulating the altcoin since 2021, the whale controls 485M ACH, or 10% of the current supply.
Storj (STORJ): decentralized cloud storage
Storj (STORJ) is a decentralized platform for data storage, allowing users to securely store files in the cloud using blockchain technology. STORJ distributes data across nodes, ensuring high availability, security, and censorship resistance.
Currently, STORJ is trading at $0.35, down -90% from its all-time highs:
After undergoing an accumulation phase lasting over 400 days, the altcoin showed a local growth of +440%. However, it has now returned to the main liquidity block:
Despite this growth, an early holder still holds STORJ positions worth $5.6M:
You can examine the bulk analysis of wallets yourself — here
The general transaction pattern of the indicated STORJ wallets suggests that they belong to the same owner.
For instance, assets are received from the same exchange during the same period, often down to the exact minute:
Moreover, as previously mentioned, the wallet owner has recently strengthened their positions, withdrawing additional assets:
Forta (FORT): Decentralized Blockchain Monitoring
Forta (FORT) is a decentralized blockchain security monitoring platform that tracks networks in real time. Forta detects anomalies and potential threats, helping prevent attacks and ensure the security of smart contracts and decentralized applications.
FORT is currently priced at $0.12, down -73% from its recent peak:
Since April, a large player has been receiving significant amounts to their wallet using 10 of their wallets, with a total asset value estimated at $19M:
You can examine the bulk wallet analysis yourself — here
By comparing transactions from the first two wallets in the figure above, similarities in behavior can be observed:
The owner has been withdrawing assets of approximately the same amount at the same time.
With a total market capitalization of $52M, this major holder controls assets worth nearly $20M, representing 15% of the entire token supply!
How on-chain analysis helps earn profits
On-chain analysis allows investors to detect actions of large investors, track asset movements, and identify market trends.
It is a crucial tool for investors seeking to time the inflow of liquidity into altcoins, which often signals the start of an altcoin season.
With our products, you can analyze holder activity and predict the price growth of specific altcoins. This helps minimize risks and make more informed investment decisions, especially ahead of significant market changes.
NOTE: Please be mindful of the risks when investing and trading.
