Crypto whales, often seen as the “smart money” in digital assets, have been loading up on select altcoins during the recent market pullback. Their activity gives a glimpse into where major capital may flow next. With October shaping up to be a critical month for crypto, here are three altcoins that whales are quietly accumulating.
Ethereum ($ETH): Buying the Dip
Ethereum has slipped below $4,000, marking a 14% decline in the past month. Despite the weakness, whales are accumulating aggressively. Over 406,000 $ETH, worth more than $1.6 billion, has been added to whale wallets in recent days.
Ethereum’s fundamentals remain strong. Transaction fees are falling, and developers continue to improve the network. Some market leaders even compare $ETH’s future trajectory to Bitcoin’s early growth. Tom Lee’s firm Bitmine has accumulated nearly $9 billion worth of $ETH. Whales view the current dip as a buying opportunity ahead of potential upside later in the year.
Aster (ASTER): Backed by Binance
Aster, a new entrant in the perpetual DEX space, launched on September 17 and has already surged over 240%. Supported by Binance and CZ, Aster is seen as a challenger to Hyperliquid’s dominance.
In just two days, whales purchased more than $48 million worth of Aster tokens. Backing from Binance gives the project credibility and resources, which could fuel long-term growth. If Aster captures even a fraction of Hyperliquid’s market, its price could multiply several times from current levels.
Plasma ($XPL): Backed by Big Names
Plasma ($XPL) is a stablecoin-focused layer 1 blockchain that launched only days ago. Despite being new, it has attracted strong whale activity. Backers include Bitfinex and billionaire Peter Thiel’s Founders Club, adding weight to the project.
$XPL has already risen from $0.70 to $1.21 since launch. One whale secured over $2.7 million worth of tokens during the public sale, while others accumulated at just $0.05. Even Justin Sun of Tron fame jumped in, making a quick $16 million profit from trading $XPL. While still highly speculative, the project’s strong backers and whale interest make it one to watch closely.
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