After the rapid industry-wide retracement that followed the brief USDC-deg on March 10, the global crypto market cap bounced back above $1.2 trillion in April. Will the intensifying activity from the whales push the rally further?
Ethereum’s Shapella upgrade and Bitcoin’s surge above $30,000 have dominated the media headlines recently. However, On-chain data reveals that strategic large investors have been paying lopsided attention to a handful of altcoins.
The Crypto Market Cap has jumped by 5% since the start of April. On-chain data reveals the direction that large institutional investors are turning their attention to make the most of the crypto rally.
Crypto Whales Defend The Graph (GRT) at the $0.10 Support
The Graph is a blockchain data indexing protocol that powers many applications in DeFi and the wider Web3 ecosystem. By March 11, the GRT token had declined nearly 48% from its year-to-date high of $0.20.
Between the recent local low of $0.11 recorded on March 9, the whales holding 1 million to 10 million coins have added 13 million tokens worth about $2 million.
With GRT now trading around $0.15, the accumulation wave among whale investors appears to have triggered a price resurgence.
Lido DAO (LDO) Whales Front-Running the Shapella Upgrade Success
Lido DAO (LDO) is the native token for Lido Finance, a DeFi platform that facilitates Ethereum 2.0 staking via liquidity staking derivative. Soon after the Ethereum network upgrade was announced in March, crypto whales began to stack their LDO bags. The timing implies that the large investors looked to front-run gains from increased trading activity that could follow the network upgrade.
In recent weeks, the LDO coin has witnessed increased buying momentum from crypto whales holding million to 10 million LDO. The chart below shows how whales bought nearly 33 million tokens between March 5 and April 12. At the press time market value of $2.39, the accumulated tokens are worth about $80 million.
When whales invest such significant sums within a short period, it instills confidence in other network participants. If the crypto whales continue to HODL, LDO could soon break above the $3 milestone.
On Feb. 15, Litecoin briefly broke above $100 for the first time since May 2022. However, the rally was shortlived as LTC quickly retraced below $70 by March 11. Interestingly, this volatility has not deterred the cohort of crypto whales holding 1 million to 10 million LTC coins.
According to Santiment, this whale cohort began buying weeks before LTC reached the year-to-date high of $102 on Feb. 15.
The following chart shows that the whales bought 2.37 million LTC between Feb 3 and April 12.
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At current prices of $94, the newly added tokens are worth over $220 million. If the whales continue to pile on, it is only a matter of time before LTC breaks the $100 barrier again.
Optimism (OP) is a layer-two blockchain built on the Ethereum network. It improves the scalability of Ethereum, keeping trustless roll-up records of transactions before they are ultimately secured on Ethereum.
OP has delivered a see-saw performance the past week, but on-chain data shows that crypto whales remain optimistic. Between March 1 and April 12, the whales with 1 million to 10 million OP in their wallet balances have added 256 million tokens.
The newly added 256 million OP tokens are worth nearly $490 million at current prices of $2.39. Though the price has declined 13% within the same period, the whale accumulation trend could soon trigger a rebound.
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Toncoin (TON) Whales Are Back in Action
Toncoin (TON) is the native token of the decentralized layer-1 blockchain developed by the encrypted messaging platform, Telegram.
According to blockchain forensics firm Santiment, TON whale holders are back in accumulation mode after taking profits in early March. Between March 20 and April 13, the whales cluster with individual balances of 100,000 to 1 million TON added another 44 million coins.
At the current market value of $2.22, the whale’s newly acquired coins are worth $97 million. Notably, the buy/sell pattern of this cohort of whales has been closely correlated to price action since September 2022. If this condition holds, TON holders can expect more upside in the coming weeks.
In conclusion, the activity of crypto whales can have a ripple effect across the cryptocurrency market. Strategic sharks and retail investors could also choose to keep a close eye on these assets that are drawing large investors’ attention.
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According to analysis from Altcoin Buzz, several altcoins, including XRP, Tellor (TRB), Render, Singular and Fetch.ai (FET) have recently witnessed substantial whale accumulation, hinting at potential bullish trends ahead.
You can analyze and track crypto whale activity directly on the blockchain via tools like block explorers such as Etherscan or major data analytics platforms like Nansen.
Crypto whales are individuals or organizations holding significant quantities of a cryptocurrency or a non-fungible token (NFT) collection. Their holdings are substantial enough to influence the price of the asset if sold in one go.
Whales often store a significant portion of their cryptocurrency holdings in offline wallets, also known as cold wallets or hardware wallets. These wallets are not connected to the internet, which reduces the risk of hacking or unauthorized access.
Accumulation. Whales can gradually accumulate Bitcoin by making calculated purchases at low prices or during market downturns. Over time, they increase their holdings of Bitcoin by taking advantage of opportunities to buy large volumes of Bitcoin at advantageous prices.
What Crypto Whales Mean to Investors. There are many circ*mstances in which someone with a large amount of cryptocurrency could move their holdings. It should be noted that movement doesn't always mean a whale is selling off their holdings. They could be changing wallets or exchanges or making a large purchase.
This sudden sell-off causes the price to drop, often leaving other investors facing considerable losses as the market corrects itself. Whales can strategically short-sell a cryptocurrency to drive its price down. This involves borrowing the cryptocurrency and selling it with plans to repurchase it at a lower price.
The threshold of determining whether an altcoin holder is a whale or not depends on the market size of the coin in question. As such, although $10 million worth of BTC is the threshold for identifying bitcoin whales, the minimum requirement may be lower for altcoins, especially those with small market capitalization.
Price manipulation: Some whales engage in market manipulation, creating artificial price movements by buying or selling large amounts of cryptocurrency. They can then capitalize on these movements by buying low and selling high.
Bitcoin whales are individuals or entities holding large amounts of the digital currency and have the potential to impact price movements with a single trade. The widely accepted minimum threshold for a bitcoin whale is 1,000 BTC.
For example, an investor with assets of $2 million in a cryptocurrency with a market capitalization of $100 million would be considered a whale. After all, they control a significant share of the total volume of this digital currency in circulation. Their transactions can significantly impact its price.
Who owns the most Bitcoin in the world? The top Bitcoin holder is still believed to be Satoshi Nakamoto, the anonymous creator of Bitcoin, who reportedly holds around 1.1 million BTC across many wallets. Despite this large holding, the top 10 holders collectively only possess about 5.5% of the total Bitcoin supply.
Satoshi Nakamoto – The pseudonymous creator of Bitcoin, Satoshi Nakamoto, is believed to hold approximately 1 million Bitcoins, making him potentially the biggest crypto whale with a staggering value of around $19.2 billion.
According to on-chain data provider Santiment, BTC whales holding between 1,000 and 10,000 coins accumulated 15,121 BTC valued at $930 million between May 7th and 8th, pushing the cohort's total BTC holding to its highest level in 14 days.
Many of the world's busiest shipping and ferry lanes overlap directly with areas where whales feed, give birth, nurse their young, or travel between feeding and breeding grounds. Collisions with ships, entanglement in fishing gear (known as bycatch), and pollution injure and kill whales.
Significant Bitcoin deposits from whales usually indicate whale dumping. There are two ways to check whale deposits on the exchange to see the possibility of whale dumping, and if these two indicators say that there are many whales on the exchange, Bitcoin price is likely to be bearish or going sideways.
To find the top token holders, you can use the Token Holders API. This allows you to sort the data based on the token balance in descending order. You can achieve this by using the orderBy filter and sorting by the value of Balance_Amount in descending order.
Alerts can be received in 7 different ways, including email, push notifications, webhook, Slack, Discord and Telegram. Our whale alerts can help you monitor large token transfers, exchange inflow/outflows, stablecoin minting/burning, and lots more!
At the 2011 peak, Whales held around 76% of the total supply. By the 2013 peak, this had dropped to approximately 62%. In the 2017 peak, the percentage had further decreased to around 52%. Interestingly, during the 2021 peak, Whales held approximately 53%, showing a slight uptick.
Introduction: My name is Lidia Grady, I am a thankful, fine, glamorous, lucky, lively, pleasant, shiny person who loves writing and wants to share my knowledge and understanding with you.
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