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Whales are on the move in the altcoin market, sparking price rally speculation. On-chain data reveals a surge in large transactions for cryptos like AAVE, ADA, and OP, signaling potential big investor accumulation, reports Santiment.
This increase suggests potential accumulation by high-net-worth investors and institutions, possibly hinting at a rally if market conditions remain favorable.
Top Gainers in Whale Transactions
Santiment data highlights a sharp rise in whale transactions over $100K across several major altcoins:
- Aave (AAVE) [Polygon]: +267%
- HEX (HEX): +256%
- OKB (OKB): +200%
- Cardano (ADA): +193%
- Optimism (OP): +140%
- Trillioner (TLC): +133%
- Bitcoin Cash (BCH): +128%
- Curve Finance (CRV): +100%
- BitDAO (BIT): +100%
- GateToken (GT): +100%
The spike in high-value transactions could indicate strategic positioning by large investors expecting a rebound in the altcoin market.
Crypto Market Forecast: Analyst Sees “Zero-Sum” Altcoin Game
Despite these increases in whale activity, broader market indicators remain neutral. CryptoQuant CEO Ki Young Ju pointed out the current “zero-sum PvP game” in altcoin markets, noting that even though Bitcoin has doubled its market cap, the overall altcoin market cap remains below its previous all-time high.
Ju observed that without fresh capital inflows, altcoin movements are largely rotational among themselves.
#Bitcoin market will likely remain slow until sentiment in the U.S. improves.
— Ki Young Ju (@ki_young_ju) March 4, 2025
There’s no significant on-chain activity, and key indicators are neutral, suggesting the bull cycle is still intact. Fundamentals remain strong, with more mining rigs coming online.
If the cycle ends… https://t.co/fSWl26d0gx pic.twitter.com/byWdweZhSQ
Related: “It’s Official”: US Splits Crypto Deck—Bitcoin as Strategic Reserve, Altcoins Corralled in Digital Asset Stockpile
Additionally, he highlighted that only a handful of altcoins with strong use cases and narratives are likely to survive the current cycle. On-chain activity remains muted, and key indicators are neutral, suggesting that the broader bull cycle is still intact, with strong fundamentals driven by increased mining operations and institutional involvement.
Technical Analysis: Altcoin Market Cap – Key Levels for Breakout
A closer look at the altcoin market cap chart (excluding Bitcoin and Ethereum) provides further clues for a potential altcoin season. Currently, the total altcoin market cap stands at $825.83 billion, just under the 20-day EMA of $852 billion, which is an area of substantial resistance.
Altcoin Price Prediction: Bollinger Bands & RSI Signals
Meanwhile, the crypto market cap is currently testing the middle band of the Bollinger Bands (BB), indicating that price volatility remains relatively contained. A breakout above the upper BB band could signal renewed bullish momentum.
Related: Altseason Incoming? Breakout Levels for Major Altcoin Rally — Analyst
In addition, the Relative Strength Index (RSI) reads a value of 40.28. The RSI suggests that altcoins are nearing oversold territory. If RSI rebounds above 50, it could confirm a shift in momentum upward.
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