ETH Whales Expand Holdings: Market Analysis and Trading Opportunities in January

Source: Coinomedia Original Title: Best Crypto To Buy Now: ETH Whales Move First, but Degens Follow DeepSnitch AI Into a 100x January Countdown Original Link: https://coinomedia.com/best-crypto-to-buy-now-eth-whales-move-first-but-degens-follow-deepsnitch-ai-into-a-100x-january-countdown/

Bitmine Expands ETH Holdings

Bitmine Immersion Technologies, the largest institutional ETH holder, expanded its ETH holdings to 4.1M over the course of last week. The company reported on January 12 that its total holdings are at $14B, which includes $988M in fiat. Bitmine also holds 193 BTC and has a $23M stake in Eightco Holdings, in addition to its sizable ETH treasury.

The company also doubled down on its staking activity with 1.2M ETH staked. The same update put attention on leadership that urged shareholders to approve an expansion of authorized shares to support its overall strategy.

Overall, the news indicates that interest in altcoins is growing, which will likely push retail traders to explore investment opportunities to capitalize on the possible market movements.

Top Cryptocurrencies in Focus

Ethereum: Will the $3K Support Hold?

According to market data, ETH traded in the $3.1K area on January 12, logging a day of zig-zag price action. Although the risk of losing support at $3K could happen, ETH is one of the biggest trending coins this week, leading analysts to believe the price will remain above the 20-day EMA.

Pushing through the immediate resistance line will confirm bullish sentiment, possibly leading to a pump to $3.5K with a mid-term target at $4K. However, turning down from moving averages could keep ETH locked in its January 12 zone for days, and if the support line breaks, ETH could drop to $2.6K.

Overall, ETH is expected to recover, so regardless of the immediate action, it remains a viable option for slower, long-term gains.

Cardano: Is the Latest ADA Dip Worth It?

On January 12, Cardano dipped to $0.38. Traders are wondering if the recent dip presents a buying opportunity, but are also fearing a further breakdown.

The crash could happen if ADA loses the moving averages and declines to $0.37, which could lead to a sharp drop to $0.33. However, buyers will likely try to take advantage of the low price, in which case, the action will reverse.

In the bullish scenario, Cardano will push to $0.55 if the price closes above $0.44, signaling a bona fide comeback.

Market Volatility and Trading Strategies

As you search for investment opportunities, keep in mind that volatility could turn high as January goes on if the correction deepens. This is exactly why many traders seeking asymmetric upside are exploring early-stage projects alongside established cryptocurrencies.

The consolidation phase presents both risks and opportunities for traders looking to capitalize on potential market movements. Institutional confidence signals from major ETH holders like Bitmine suggest growing bullish sentiment in the altcoin space.