Amid escalating geopolitical tensions in the Middle East, the crypto market has experienced a sharp spike in volatility this week.
However, large-scale holders—commonly referred to as crypto whales—have remained active, carefully accumulating select tokens with strong upside potential. Some of the top picks include Ethereum, Bitcoin Cash, and Litecoin.
Ethereum (ETH)
Despite its muted price performance this week, top altcoin ETH is one of the assets that crypto whales have bought this week as the market navigates the raging volatility. This is evidenced by its large holders’ netflow, up over 7000% in the past seven days, per IntoTheBlock.
The large holders’ netflow measures the difference between the amount of tokens that whales buy and sell over a specified period. When it grows like this, it indicates strong accumulation by whales, suggesting growing confidence or a bullish outlook on the asset.
If this continues, the altcoin could initiate a new rally phase, breaking above the $2,500 price region.
Bitcoin Cash (BCH)
BCH is another asset that crypto whales are acquiring amid the geopolitical unrest in the Middle East.
Data from Santiment shows a rise in the coin holding of wallet addresses holding between 1,000 and 10,000 BCH tokens. During the week in review, this cohort of BCH holders acquired 40,000 tokens valued at over $19 million at current market prices.
The altcoin now trades at $485.76, up by 5% over the past day amid growing bullish sentiment across the crypto market.
Dogecoin (DOGE)
Top meme coin DOGE has also drawn increased attention from crypto whales this week. On-chain data from Santiment reveals a surge in accumulation by large holders holding between 100 million and 1 billion DOGE.
Over the past week, this group has collectively purchased 140 million DOGE, with the total value of these buys exceeding $24 million.
This surge in whale accumulation is a bullish signal for DOGE’s near-term outlook. If momentum builds, this wave of accumulation could lay the groundwork for a short-term recovery or even a breakout from current price levels.
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