The cryptocurrency market has shown signs of recovery this week, with the total market capitalization increasing by 2% over the last seven days. This renewed optimism has caused considerable investor interest in several alternative cryptocurrencies.
Tron (TRX)
Tron, in particular, has garnered attention. According to data from IntoTheBlock, the net inflow from large wallet holders has surged by 160% in the past week. This metric monitors the difference between tokens bought and sold by addresses holding more than 0.1% of the circulating TRX supply, indicating significant accumulation by these major investors. This noteworthy behavior could encourage smaller investors to follow suit, potentially driving TRX beyond its current price, with forecasts suggesting a possible range of $0.23–$0.27.
Ethereum (ETH)
Ethereum has also become a primary target for high-volume investors. In the last week alone, major accounts collectively acquired around 250,000 ETH, with a total value exceeding $675 million. These additions have increased the cumulative holdings of this group to 8.74 million ETH—a peak not seen since January 23. This consistent accumulation could assist ETH in breaking free from its existing trading pattern, potentially allowing it to surpass the $3,000 threshold in the short term.
PancakeSwap (CAKE)
In the meantime, PancakeSwap demonstrated remarkable performance by more than doubling its value in the last week, accompanied by a substantial increase in trading activity. Large investors, specifically those managing wallets with significant token holdings, added almost 6 million CAKE during this period. Should the current demand persist, CAKE has the potential to maintain its upward momentum, possibly exceeding the $3 resistance mark.
In conclusion, with continued whale accumulation across these various digital assets, market participants should closely monitor emerging trends and potential risks. The recent trends suggest that the rally may have staying power, and investors are advised to conduct in-depth research and exercise appropriate caution when considering their next moves in this evolving market.
Maxwell Reed is the first editor of Cryptovista360. He loves technology and finance, which led him to crypto. With a background in computer science and journalism, he simplifies digital currency complexities with storytelling and humor. Maxwell began following crypto early, staying updated with blockchain trends. He enjoys coffee, exploring tech, and discussing finance’s future. His motto: “Stay curious and keep learning.” Enjoy the journey with us!