As Bitcoin maintains around its all-time high, mid-cap altcoins are drawing attention from top cryptocurrency wallets. Over the past 7 days, tokens like 1inch (1INCH), Chainlink (LINK), and Curve (CRV) have recorded new accumulation, as evidenced by the increase in balances of investors and outflows from exchanges. Below is an insight into the trends of cash flow movement and their potential implications.
1inch (1INCH)
In the past 24 hours, the amount held by whales for 1inch has increased by 5.65%, bringing the total number of tokens held by these wallets to 9.56 million. Meanwhile, the top 100 addresses still own approximately 1.26 billion 1INCH, although their holding ratio has slightly decreased, indicating a redistribution rather than a capital exit.
The balance chart shows a steady upward trend from around noon on July 14, reflecting new demand while the token price fluctuates between $0.32 and $0.34. Meanwhile, the balances of smart funds and on exchanges have hardly changed, indicating that the action is mainly accumulation from large wallets.
Although the amount held by whales increased by 5.65%, the price of 1INCH fell nearly 8% compared to the previous day, suggesting that whales may be positioning themselves early for the expected increase in on-chain trading volume, rather than pursuing short-term profits.
Cryptocurrency whales may be transitioning to 1inch as a bet on increasing activity on decentralized exchanges (DEX) if 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 surge in balances just before the token price reached a local high near $16.
The top 100 addresses currently hold 654.73 million LINK, a slight increase compared to the beginning of the week. Balances on exchanges have decreased by 1.51%, reinforcing the view that LINK is being moved to self-custody or cold wallets. The price of LINK has increased nearly 18% over the past week, indicating that cryptocurrency whales are accumulating.
This suggests a new bullish sentiment.
Curve DAO (CRV)
CRV cryptocurrency whale wallets have increased their holdings by an additional 1.65% of tokens, bringing the total holdings to 6.18 million. Although this change is minor, this pattern 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 have slightly increased by 0.06%, indicating that large investors are gradually re-accumulating. The price of CRV has risen to nearly $0.71, an increase of nearly 7% compared to the previous day, consistent with the accumulation patterns of whales.
Curve specializes in providing stablecoin exchange services, with low fees and deep liquidity. These factors attract large investments seeking refuge as inflation data is about to be released, such as the U.S. CPI announcement tomorrow.
SPX6900 (SPX)
The token SPX6900, often seen as an industry index for meme coins, has recorded a 1.1% increase in cryptocurrency 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 the meme coin rotation.
The price of SPX has moved closer to $1.60, and the cash flow pattern from July 10 to 13 indicates coordinated entry points.
Despite caution due to CPI, this slight increase in SPX indicates that some traders are still betting on the meme coin supercycle to continue, especially if the inflation data supports a risk-on sentiment.
