Whales Are Taking Profit On Solana Meme Coins To Accumulate Utility Tokens Rollblock (RBLK) and Cosmos (ATOM)
After the recent meme coin boom, crypto whales are cashing out. Many believe that meme coins could crash following Bitcoin’s halving. As a result, they’re using their profits to accumulate utility tokens such as Cosmos and Rollblock. These utility tokens have great potential to soar in 2024. Here’s why.
The Cosmos Hub recently approved proposal 897. This is a huge milestone for the utility coin, and will implement a new security measure into the Cosmos ecosystem. Known as ICS 2.0: Partial Set Security, this update will offer greater validator flexibility and autonomy.
Over the last six months, Cosmos has experienced a strong performance. Its value more than doubled, increasing from $6.20 in October 2023 to $14.50 in March 2024. However, due to turbulent market conditions, Cosmos has experienced price declines over the last month.
Presently, Cosmos is down by 26.6%, and ATOM is trading at $8.07. This is Cosmos’ lowest price since October and has caused a significant decline in daily trading volume.
Nonetheless, crypto experts believe that Cosmos is on track to recover. Over the last 24 hours, Cosmos’ daily trading volume increased by 1.9%, and the price of ATOM dropped by just 0.52%. This suggests that Cosmos could be on track to bounce back.
Expert predictions suggest that Cosmos could recover to $10 after Bitcoin’s halving. As a result, many crypto whales are doubling down on their Cosmos portfolio to maximize their potential returns.
Rollblock is quickly becoming one of the hottest new utility tokens in the space. Currently in its presale, the project focuses on applying DeFi technology to the $75 billion a year online gambling market. Its digital casino, which is already live, currently showcases over 100
