The cryptocurrency market experienced a slight recovery this week after President Trump announced a ceasefire between Israel and Iran on Monday.
Some assets continued their upward trends, while others performed more quietly, struggling to maintain their bullish momentum. Amid this mixed market recovery, blockchain data reveals that cryptocurrency whales are quietly accumulating some altcoins, including UNI, WLD, and SAND.
Uniswap (UNI)
This week, the decentralized finance (DeFi) token UNI received significant attention from investors. This is reflected in the net inflows from its largest holders, which increased by 190% over the past seven days, according to IntoTheBlock.
Major investors are those who hold more than 0.1% of the circulating supply of the asset. Their net flow measures the difference between the number of tokens they buy and sell over a specified period.
When it rises this way, it indicates strong accumulation by whales, suggesting increasing confidence or a bullish outlook for the asset.
Furthermore, the increase in net inflows from major investors may lead retail traders to increase their holdings of UNI. If this buying pressure continues, the price of the altcoin could break the $7 range.
On the other hand, if demand decreases, the token price could drop to $5.91.
Worldcoin (WLD)
WLD, the digital currency powering Sam Altman's Worldcoin, is another altcoin that cryptocurrency investors bought this week. Santiment data shows a notable increase in digital currency holdings from wallets of cryptocurrency investors holding between 100,000 and 1 million WLD tokens.
During the week under review, this group of WLD holders acquired 1.72 million tokens, currently valued at over $3 million.
If demand from this whale increases, it could push the price of WLD above the resistance level of $0.97 in the near term.
However, if the sentiment turns bearish and whales sell to take profits, WLD could lose some of its value and drop towards $0.57.
Sandbox (SAND)
The SAND token, based on the metaverse, is another asset that has seen increased activity from cryptocurrency whales this week. According to data from Santiment, major investors holding between 1 million and 10 million tokens accumulated 7.45 million SAND tokens over the past week.
This significant increase in whale accumulation indicates growing confidence in SAND's long-term potential.
If this buying trend extends to retail traders, it could strengthen the bullish momentum of the token in the coming weeks and push its price towards $0.30.
On the other hand, if buying activity slows down, the price of SAND could drop to $0.21.