As the broader market eyes a potential rebound amid easing macroeconomic volatility, crypto whales have started rotating capital into select assets.
On-chain data shows notable accumulation in Ethereum (ETH), ONDO, and Chainlink (LINK) as large holders position themselves for possible gains this month.
Ethereum remains a top target for crypto whales this month. Despite the altcoin’s lackluster performance over the past week, large holders have seized the opportunity to accumulate. They have increased their net inflows as they position for potential upside in the weeks ahead.
Per IntoTheBlock’s data, ETH’s large holders’ netflow has spiked 95% over the past week, reflecting increased demand from this group of investors.
Large holders are investors that hold more than 0.1% of an asset’s circulating supply. Their netflow measures the difference between the amount of tokens that whales buy and sell over a specified period.
When it climbs, it indicates strong accumulation by whales. The trend could prompt retail traders to ramp up their ETH accumulation, driving up its value in the near term.
RWA-based token ONDO is another asset that crypto whales are paying attention to this month. Data from Santiment shows a notable rise in the coin holding of whale wallet addresses that hold between 100 and 100,000 ONDO tokens.
Over the past week, this group has collectively accumulated 3 million tokens, signaling growing confidence in ONDO’s near-term performance.
If this whale demand continues to grow, it could provide the momentum needed to push ONDO’s price above the key resistance level at $0.92.
Conversely, if market sentiment shifts and whales move to secure profits, the token risks retracing toward $0.66.
LINK has seen a surge in whale transaction activity over the past few days, signaling growing confidence in the token’s near-term performance.
According to data from Santiment, there has been a steady increase in the number of LINK transactions exceeding $100,000 and $1 million, indicating that large investors are actively positioning for potential gains in July.
This uptick in high-value transactions suggests strengthening bullish momentum for LINK’s price. If this trend persists, it could fuel further upward pressure and push the altcoin’s price to $15.53.
On the other hand, if demand falls, the token’s price could dip toward $11.04.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.