In the past week, the crypto market has been mostly stable while investors aim to take control from the bullish perspective.
Despite the ongoing market volatility, major crypto investors, known as whales, have been gathering specific alternative coins, potentially positioning themselves for a future market recovery.
For instance, Cardano (ADA) has caught the attention of whales recently. Data from Santiment indicates an increase in ADA coins accumulated by whale addresses holding between 10 million and 100 million ADA.
Over the last seven days, these ADA whales have purchased 190 million coins valued at approximately $2.40 billion at current market prices. This surge in whale accumulation comes as ADA's price fluctuates between $0.59 and $0.63. When whales acquire more assets during a period of price consolidation, it reflects confidence in the coin's long-term value despite short-term uncertainties.
This behavior suggests potential upward momentum, as significant holders anticipate a market breakout. If demand rises, ADA could pass the $0.63 resistance mark and reach $0.70. Conversely, should profit-taking resume, ADA might experience a decline to $0.55.
Another altcoin receiving considerable whale attention this week is ApeCoin (APE), a Metaverse-based asset. Whale addresses with holdings between 100 million and 1 billion APE have obtained 11 million tokens during the review period.
These investors currently control 175 million APE tokens, valued at around $75.25 million at the present market rates. This marks their highest holding since December 2024.
If whale demand for APE continues to grow, the token could trade at $0.59. However, a decrease in demand might lead to a price drop to $0.34.
Additionally, Telegram-linked Toncoin has stood out to crypto whales recently due to a significant increase of 164% in its large holders' netflow over the past week.
Large holders of TON, possessing over 0.1% of the circulating supply, have been accumulating the coin, signaling a trend that could prompt retail traders to increase their demand, potentially driving up the coin's value in the near future.
If TON whales further accumulate, the price could see a rise to $3.75. However, continued selling pressure could result in a drop to $2.35.