This week has been marked by significant volatility. Many cryptocurrencies briefly plunged to multi-month lows amid widespread market uncertainty triggered by Donald Trump’s trade wars.
Despite the downturn, and with anticipation building for the White House Crypto Summit, crypto whales have been actively accumulating select altcoins.
Aave (AAVE)
This week, crypto whales have paid increased attention to the decentralized finance (DeFi) token AAVE. The uptick in the supply held by whale addresses that hold between 10,000 and 100,000 tokens confirms the same.
According to Santiment, this group of investors has acquired 50,000 AAVE tokens over the past seven days, pushing its total holdings to an all-time high of 3.98 million tokens.
This surge in whale activity has contributed to AAVE’s rally despite this week’s market headwinds. Trading at $207.61 as of this writing, the altcoin’s value has risen by 14% in the past seven days.
Ondo (ONDO)
RWA-based token ONDO is another altcoin that crypto whales have bought this week. Data from IntoTheBlock shows a whopping 10,263% spike in its large holders’ netflow during that period.
Large holders own at least 0.1% of an asset’s circulating supply. Their netflow represents the difference between the amount of coins they buy and sell within a given period.
When it spikes, it means that whale addresses are accumulating more tokens, a trend that signals bullish sentiment. This can trigger FOMO among ONDO’s retail traders, driving up demand and increasing pressure on its price.
XRP
During the week in review, whales have also increased their XRP holding. Data from Santiment has shown a spike in the amount of tokens in the wallets of large whales that hold between 100 million and 1 billion XRP.
Over the past week, this investor cohort has accumulated 320 million tokens, valued at $816 million at current market prices. At press time, XRP trades at $2.54.
If this whale accumulation persists, the token could rally beyond $3 and attempt to revisit its all-time high of $3.40.
Disclaimer
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