In the context of Bitcoin maintaining around its all-time high, mid-cap altcoins are attracting attention from top cryptocurrency wallets. Over the past 7 days, tokens such as 1inch (1INCH), Chainlink (LINK), and Curve (CRV) have recorded new accumulation, as reflected by the increase in balances of investors and outflows from exchanges. Below is an insight into the flow trends and their potential implications.
1inch (1INCH)
In the past 24 hours, the number of whale holdings for 1inch has increased by 5.65%, raising the total number of tokens held by these wallets to 9.56 million. At the same time, the top 100 addresses still hold about 1.26 billion 1INCH, although their holding ratio has slightly decreased, indicating a redistribution rather than capital exit.
The balance chart shows a steady upward trend from around midday on July 14, reflecting new demand while the token price fluctuated between $0.32 and $0.34. Meanwhile, the balances of smart funds and on exchanges remained relatively unchanged, indicating that the action was primarily accumulation from large wallets.
Although whale holdings increased by 5.65%, the price of 1INCH dropped nearly 8% from the previous day, suggesting that whales may be positioning early for the anticipated increase in on-chain trading volume rather than pursuing short-term profits.
Cryptocurrency whales may be shifting to 1inch as a bet on increased activity on decentralized exchanges (DEX) if the CPI decreases and risk-on sentiment returns, thereby boosting on-chain trading volume.
Chainlink (LINK)
Since July 10, LINK has recorded a 6.19% increase in whale holdings, now reaching 2.84 million tokens. The most notable increase occurred between July 11 and 12, with a clear spike in balance just before the token price hit a local high near $16.
The top 100 addresses now hold 654.73 million LINK, a slight increase from the beginning of the week. The balance on exchanges decreased by 1.51%, reinforcing the view that LINK is being transferred to self-custody or cold wallets. The price of LINK has increased nearly 18% in the past week, indicating that cryptocurrency whales are accumulating.
This suggests a new optimistic sentiment.
Curve DAO (CRV)
The cryptocurrency whale wallets of CRV have increased their holdings by an additional 1.65% tokens, bringing the total holdings to 6.18 million. Although this change is minor, the trend has been consistent over the past 24 hours; the yellow balance line indicates steady growth overnight and into the morning of July 14.
The holdings of the top 100 wallets increased slightly by 0.06%, indicating that large investors are gradually re-accumulating. The price of CRV has risen to nearly $0.71, up nearly 7% from the previous day, consistent with the accumulation patterns of whales.
Curve specializes in providing stablecoin exchange services, with low fees and deep liquidity, factors that attract large investments seeking refuge as inflation data is about to be released, such as the U.S. CPI announcement tomorrow.
SPX6900 (SPX)
The SPX6900 token, often seen as an industry index for memecoins, has recorded a 1.1% increase in whale holdings, and the top 100 wallets have added 4.63% tokens this week. Although smaller in scale compared to other coins, this flow adds weight to the narrative of memecoin rotation.
The price of SPX has moved closer to $1.60, and the money flow pattern from July 10 to 13 indicates coordinated entry points.
Despite caution due to the CPI, this slight increase in SPX indicates that some traders are still betting on the continuation of the memecoin super cycle, especially if inflation data supports risk-on sentiment.