The cryptocurrency market has shown signs of a modest rebound this week, following geopolitical developments that influenced investor sentiment. While some assets have extended their gains, others have struggled to maintain upward momentum. Amid this mixed recovery, on-chain data reveals that crypto whales have been quietly accumulating select altcoins, including UNI, WLD, and SAND.
Uniswap (UNI)
Uniswap's native token, UNI, has garnered significant attention from major investors this week. This is reflected in its large holder netflow, which surged by 190% over the past seven days, according to data from IntoTheBlock.
Large holders are defined as investors holding more than 0.1% of an asset’s circulating supply. Their netflow measures the difference between the number of tokens they buy and sell over a specific period. A sharp increase in netflow, like the one observed, indicates strong accumulation by whales, suggesting growing confidence or a bullish outlook for the asset.
Furthermore, a spike in large holder netflow can often encourage retail traders to increase their accumulation of UNI. If this buying pressure continues, the altcoin could break through the $7 resistance level.
On the other hand, if demand weakens, the token’s price may retreat to the $5.91 support zone.
Worldcoin (WLD)
WLD, the token powering Sam Altman’s Worldcoin project, is another altcoin that has attracted substantial whale activity this week. Data from Santiment shows a notable rise in token holdings by whale addresses holding between 100,000 to 1 million WLD.
Over the observed period, this cohort of WLD holders acquired an additional 1.72 million tokens, valued at over $3 million at current prices.
If whale demand continues to climb, it could help WLD break above the $0.97 resistance level in the near term.
However, if market sentiment turns bearish and whales begin taking profits, WLD could see a decline toward the $0.57 support mark.
For those interested in tracking such market movements in real time, you can explore advanced analytics tools that offer detailed on-chain insights.
The Sandbox (SAND)
The metaverse-based token SAND is another asset that saw a notable increase in crypto whale activity this week. According to Santiment, large investors holding between 1 million to 10 million tokens accumulated 7.45 million SAND over the past week.
This significant uptick in whale accumulation indicates strengthening confidence in SAND’s long-term potential.
If this buying trend extends to retail traders, it could further solidify the token’s bullish momentum in the coming weeks and push its price toward the $0.30 level.
Conversely, if buying demand decreases, SAND’s value may retreat to the $0.21 support area.
Frequently Asked Questions
What are crypto whales?
Crypto whales are individuals or entities that hold large amounts of a particular cryptocurrency. Their trading activity can significantly influence market prices due to the size of their transactions.
How can I track whale activity?
You can monitor whale movements using on-chain analytics platforms like IntoTheBlock and Santiment, which provide data on large transactions, holder distribution, and netflow trends.
Why do whales accumulate certain altcoins?
Whales often accumulate tokens based on fundamental analysis, project developments, or market sentiment. Their actions can signal potential price movements or growing confidence in a project’s future.
Is whale activity always a reliable indicator?
While whale buying can indicate positive sentiment, it is not a guaranteed predictor of price gains. Market conditions, broader trends, and sudden sell-offs can also impact prices.
What risks are involved in following whale trades?
Whale movements can be volatile, and their strategies may not always align with retail investor goals. It’s important to conduct your own research and consider market risks before making investment decisions.
Where can I learn more about crypto investing?
For a deeper understanding of market strategies and tools, you can discover comprehensive investment resources that provide educational content and real-time data analysis.