In the dynamic cryptocurrency market, large-scale whale activities act as strong indicators of market sentiment and potential price movements.
Bitcoin (BTC): A Whale Awakens
Over the past week, Bitcoin whales have been notably active. On-chain data shows more than 18,000 BTC was moved to centralized exchanges, valued roughly at $1.26 billion. Arkham Intelligence tracked a transfer of 5,200 BTC from a stagnant address, marking its first activity in a year. Meanwhile, accumulation addresses added 7,100 BTC during market dips, indicating divided market sentiments with some locking in gains while others prepare for the upcoming halving.
Trends with XRP, Cardano (ADA), and Litecoin (LTC)
XRP has seen an increase in accumulation by whale investors. Wallets holding between 10 million and 100 million XRP rose from 1,537 to 1,565, suggesting a bullish outlook. Cardano witnessed heightened whale demand due to the creation of a U.S. Strategic Crypto Reserve, which was later discarded, further boosting ADA's price trajectory. Despite market volatility, Litecoin attracted whale interest as large holders' netflow reached 233,280, indicating potential for a price rally.
Ethereum (ETH) and ENS Investments Amid Price Decline
Recently, a whale deposited 10 million USDC via the decentralized exchange Hyperliquid to take a position in Ethereum at $1,921, increasing it to 141,013 ETH with an unrealized profit of $3.65 million. Ethereum Name Service (ENS) faced a 20% price decline over the past week, yet whale addresses with 1 million to 10 million ENS tokens accumulated an additional 20 million tokens, valued at over $330 million.
Recent whale activities show strong accumulation strategies amid market volatility, often indicating potential price trends. Still, investors should remain cautious.
