Amid escalating geopolitical tensions in the Middle East, the crypto market has seen a sharp surge of volatility this week.
However, large holders, commonly known as whales, have remained active, carefully accumulating altcoins with strong upside potential. Some of the top picks include Ethereum, Bitcoin Cash, and Litecoin.
Ethereum (ETH)
Despite a lackluster performance this week, leading altcoin ETH is one of the assets that whales have been accumulating this week as the market heads for a sharp move.
This is evidenced by the net inflows from large holders, which have increased by more than 7,000% over the past 7 days, according to IntoTheBlock.
Large Holder Net Flow measures the difference between the number of tokens bought and sold by whales over a given period. When rising, the indicator indicates strong accumulation by whales, indicating confidence or bullish outlook for the asset.
If this trend continues, the altcoin could start a new bull run, surpassing $2,500.
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) is another asset that whales are buying amid geopolitical uncertainty in the Middle East.
Data from Santiment shows an increase in the number of addresses holding between 1,000 and 10,000 BCH. During the week in review, this group of BCH holders purchased 40,000 tokens worth over $19 million at current market prices.
Dogecoin (DOGE)
Dogecoin (DOGE) has also attracted attention from whales this week. On-chain data from Santiment shows an increase in accumulation from large holders holding between 100 million and 1 billion DOGE.
Over the past week, this group collectively purchased 140 million DOGE, with the total value of purchases exceeding $24 million
The increase in whale accumulation is a bullish signal for the short-term outlook of this memecoin. If momentum builds, this accumulation wave could lay the groundwork for a short-term recovery or even a breakout from current prices.