The cryptocurrency market has seen a notable increase in activity this week, with the total market capitalization rising by 10% over the past seven days.
This increase reflects renewed interest from investors, particularly among large holders of cryptocurrencies, who have strategically accumulated some altcoins.
Uniswap (UNI)
The governance token of Uniswap, UNI, is one of the tokens that cryptocurrency whales bought this week. This is evident from the net flow of large holders, which increased by 492% in the past seven days.
The netflow index for large coin holders measures the difference between the amount of tokens bought and sold by whales over a specific time period. When it rises this way, it indicates strong accumulation by whales, suggesting increased confidence or a bullish outlook for the asset.
If the whale accumulation continues, UNI could extend its rise to $7.10. On the other hand, if demand slows down, UNI may lose its recent gains and drop to $4.60.
Mantra (OM)
The recent decline in the price of OM has opened the door for strategic accumulation by some of its largest holders.
According to on-chain data from Santiment, whale addresses holding between 10 million and 100 million OM tokens bought 26 million OM tokens during the review week.
About supply distribution.
This cumulative trend comes after a dramatic collapse in the price of OM on April 13. The currency suffered a sudden crash that wiped out more than 90% of its value in less than an hour, resulting in the loss of over $5.5 billion in market capitalization.
The drop in prices has shaken retail sentiment, but it seems that whales have viewed this as a reduced entry point, putting them in a position that could herald a potential recovery.
If this trend continues, OM could rise to over $1. However, once sales resume, its price may drop to $0.022.
Worldcoin (WLD)
WLD, associated with Sam Altman, is another altcoin that cryptocurrency whales bought this week. On-chain data shows that whales holding between 1 million and 10 million tokens acquired 13 million WLD over the past week.
WLD Supply Distribution
This group of WLD investors holds 798.06 million tokens at the time of this report, representing their highest balance ever. If WLD whales increase their accumulation, its price could rise again to over one dollar.
On the other hand, if selling continues, it may retreat to $0.57.
