Bitcoin’s Breakout Fuels Whale Activity in Avalanche and Ethereum, Suggesting Potential Price Gains
By: en coinotag|2025/05/02 17:00:13
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Whale activity surged across multiple altcoins in the first week of May 2025, fueled by Bitcoin’s breakout above $95,000. Avalanche (AVAX) saw a 380% increase in large holder netflows, potentially pushing its price towards $30 if accumulation continues. Ethereum (ETH) experienced a steady 3% rise, with whales acquiring 280,000 ETH. If momentum persists, this could drive its price above $2,000. Bitcoin’s decisive surge above $95,000 has reignited bullish momentum in the crypto market, prompting significant whale activity in altcoins. Avalanche (AVAX): A Rising Star Among Altcoins Layer-1 (L1) coin AVAX has seen increased whale attention this week, reflected by the spike in its large holders’ netflow. According to IntoTheBlock, this has rocketed over 380% in the past seven days. A large holder is a wallet address holding over 0.1% of an asset’s circulating supply. The large holders’ netflow tracks these investors’ buying and selling activity. When it rises, crypto whales buy more tokens. This bullish signal often prompts retail investors to increase their holdings. If AVAX ’s accumulation trend persists, its price could breach the resistance at $24.28 and rally toward $30.23. Conversely, if demand wanes, AVAX could fall to $14.66. Ethereum (ETH): Whale Accumulation Fuels Steady Growth Amid the recent broader market rally, ETH has recorded a modest 3% price uptick in the past seven days, buoyed by steady whale accumulation. According to Santiment, during that period, whale addresses holding between 10,000 and 100,000 coins have acquired 280,000 ETH valued at over $510 million at current market prices. As of this writing, this cohort of ETH whales controls 25.24 million ETH, their highest holding in the past month. ETH ’s price could be driven above the psychological $2,000 mark if whale accumulation persists. However, if the bears regain dominance, they could push the coin’s price to $1,733. Pepe (PEPE): The Meme Coin’s Resilient Whale Interest Popular meme coin PEPE is another asset that has seen a surge in crypto whale accumulation this week. Per Santiment, wallet addresses that hold between 100,000 and 1 million tokens have bought 350 million PEPE in the past seven days. At press time, the meme coin trades at $0.0000086. If whale accumulation persists, PEPE could reverse its current downtrend and break above the resistance at $0.0000010. On the other hand, if sell-offs continue, the token’s price could drop to $0.0000052. Conclusion The recent spike in whale activity across altcoins like AVAX , ETH , and PEPE emphasizes a shifting market sentiment, marking a potential turning point for the crypto landscape. A continued bullish trend driven by whale accumulation could lead to significant price increases. Investors should remain vigilant as market dynamics unfold.
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