After the poor performance of the cryptocurrency market last week, trading activity has become more active this week. This new momentum shows that the global cryptocurrency market capitalization increased by 6% over the past 7 days.
Large investors, often called cryptocurrency whales, seized the opportunity to accumulate selected altcoins in anticipation of future profits.
Ethereum (ETH)
The major altcoin Ethereum ranked highest on the cryptocurrency whales' buy list this week, with large holder net inflows surging by 270%, emphasizing the scale of accumulation.
Want more of these token insights? Subscribe to editor Harshi Notariya's daily crypto newsletter here.
Large holder net inflows measure the difference between tokens bought and sold by whales over a certain period. This surge indicates a strong accumulation trend among these coin holders. This represents increased confidence in the asset and a positive outlook.
The surge in Ethereum whale purchases pushed the altcoin above $4,000 for the first time since last December. As the accumulation momentum strengthens, Ethereum could extend its rally to the $4,500 region.
Conversely, if profit-taking resumes, the price could retreat to $3,920.
PEPE
Solana-based meme coin PEPE is another altcoin purchased by cryptocurrency whales this week. According to on-chain data, holdings increased by 1.36% in high-value wallets holding over $1 million in PEPE tokens.
When such an accumulation trend appears among large investors, it indicates increased confidence in the asset's short-term potential. This strong whale interest could help increase retail purchases and sustain and expand PEPE's recent weekly rise.
If this accumulation continues, the token could rise to $0.00001315.
Conversely, if demand decreases, the price of PEPE could fall to $0.00001070.
Mantle (MNT)
MNT's 52% weekly rally caught the attention of cryptocurrency whales this week. According to on-chain data, whales holding between 1 million and 10 million tokens purchased 2.39 million MNT last week.
This group now holds 20 million MNT, the highest balance in the past month.
If whale accumulation strengthens, the price of MNT could rise to $1.1496.
Meanwhile, if selling pressure resumes, the price could fall below $1.0361.
