The cryptocurrency market has experienced increased activity in the past week, with the total market capitalization growing by 10% during this period. This rise in activity is due to renewed interest from investors, particularly larger holders who have strategically purchased certain alternative coins.
One of the tokens that large crypto holders invested in this week is Uniswap's governance token, UNI. Data shows that the netflow of UNI among large holders surged by 492% over the last seven days, indicating significant accumulation by these whales. Such a surge in netflow suggests growing confidence or a positive outlook on the asset.
If the trend of whale accumulation continues, UNI may see a further increase in its value to $7.10. Conversely, if demand weakens, UNI could decline to $4.60.
Another altcoin that attracted strategic accumulation by large holders is MANTRA (OM). Following a substantial price drop on April 13, whale addresses holding between 10 million and 100 million OM tokens acquired 26 million OM during the reviewed week. Despite the price plunge that caused a significant market capitalization loss, these large holders saw it as an opportunity for a discounted entry point, potentially for a future recovery.
If the current accumulation trend persists, OM could rally above $1; however, if selling resumes, its price may drop to $0.022.
Worldcoin (WLD), associated with Sam Altman, is another altcoin that saw increased interest from crypto whales this week. Large holders with holdings between 1 million and 10 million tokens acquired 13 million WLD in the past week. Depending on the direction of accumulation by WLD whales, the price could either increase above $1 or drop to $0.57 if selling pressure continues.