4 Cryptos Whales and Smart Money Are Accumulating in a Weak Market

Jakarta, Pintu News – Amidst the market pressure that continues to depress crypto asset prices, whales and smart money are taking a bold step: buying up certain assets with high potential. While retail investors are fearful, these big players see a golden opportunity to accumulate assets at bargain prices.

Interestingly, not all of them are chasing popular coins – some are surprisingly accumulating on lesser-known assets. In this article, we’ll take a look at 4 cryptos that whales and smart money bought during the market downturn, based on on-chain data and big wallet activity.

Seeker (SKR)

According to data from LookOnChain, a whale with wallet address 5AahUC caught the attention of the crypto market after making massive purchases of SKR tokens in the past two days.

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The whale invested around $269,000 to buy 20.07 million SKR crypto, which is currently worth around $1.02 million. This means that the wallet now has an unrealized gain of $750,000, which is a 279% increase from its initial capital.

Data from Solscan shows that the purchases were made gradually through multiple transactions using the USDC stablecoin at various prices. Now, the wallet has a total balance of over $2.68 million, with most of it in the form of $SKR and USDC tokens.

This whale action indicates strong interest in the $SKR token, and is likely to be a highlight for traders and investors following large address movements on the Solana network.

Uniswap (UNI)

A whale with wallet address 0x9671 demonstrated a smart trading strategy in the crypto market through a large move against the Uniswap token.

Five days ago, the whale sold 798,734 $UNI worth about $4.26 million at $5.33 per token. After the UNI price corrected, he re-entered the market and bought back 757,684 $UNI worth about $3.66 million, at a lower price of $4.83 per token – just about five hours before this post was made.

This strategy allowed the whale to potentially pocket a profit difference of around $600,000 from the difference between the selling and buying prices, even though the number of tokens bought back was slightly smaller.

This transaction was made through the CoW Protocol, which is visible from a series of large transfers in the blockchain activity log. This move shows how whales are taking advantage of market volatility to profit in the short term, and could be an important signal for traders following the action of large wallets in the Ethereum ecosystem.

Ethereum (ETH)

Even though the market is experiencing a decline, whales and large institutions are taking advantage of this moment to buy Ethereum .

One of the major entities, Trend Research, was recorded borrowing $70 million USDT from the Aave protocol and used it to purchase around 24,555 ETH worth $75.5 million. Currently, their wallet holds around 651,310 ETH, which is equivalent to $1.92 billion – making them one of the largest ETH holders on the network.

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Meanwhile, an OTC whale with the address 0xFB7 was also seen making a massive accumulation by buying 20,000 ETH worth $58.8 million. These purchases were made through reputable OTC platforms FalconX and Wintermute, which are known as liquidity providers and institutional transaction facilitators.

Tether Gold (XAUT)

When the crypto market is in the doldrums, some whales take a different approach instead of buying crypto assets, they turn to digital gold.

About 30 minutes ago, a whale with wallet address 0x6B99 was spotted depositing $1.53 million USDC into the Hyperliquid platform to back Tether Gold , a token backed by physical gold.

To date, the whale has accumulated 481.6 XAUT worth approximately $2.38 million, and still holds a balance of $1.44 million USDC, which will most likely be used to purchase more XAUT in the near future.

This action reflects the trend of some big players shifting away from cryptocurrencies towards hedge assets such as gold, particularly in the form of tokenized gold such as XAUT, whose value is backed by real gold. This could be a signal that some investors are starting to secure their funds amidst the uncertainty of the digital asset market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.