Holdings 1.6 billion Taiwan coins! Will the mysterious Whale's recent frenzy in buying these six coins lead to a big pump?

Analysts on-chain discovered that Whales have recently positioned themselves in various altcoins.

In the encryption currency market, the Wallet Address of the Whale (Crypto Whale) with a huge amount of funds has always been the focus of attention for investors and analysts.

Well-known on-chain analyst Lookonchain continues to track the movements of these Whales. Several mysterious Whales have recently been actively deploying different AltCoins, indicating that they may be positioning themselves for the next wave of the market.

Which coins did these Whales buy? How much did they spend?

Lookonchain has discovered the following Whale activities in the past few days:

$ONDO

Lookonchain announced on the morning of December 10th that a Whale (Address starts with: 0x0afb) exchanged 4,611 $stETH worth $17.14 million for 10.98 million ONDO at an average price of about $1.56, indicating a strong confidence in the project.

Ethercoin（$ETH）

Lookonchain pointed out that on December 10th, in the middle of the night, a Whale (Address starting with: 0x78D) once again bought 1,800 $ETH, worth 7 million dollars at the time.

Since May 24th, the Whale has accumulated a total of 39,600 $ETH, with a total value of approximately $99 million. The average purchase price is $2,487, and the unrealized profit is as high as $54 million.

EigenLayer（$EIGEN）

Lookonchain stated in the afternoon of December 9th that a Whale (Address starts with: 0x9BF5) withdrew 2 million $EIGEN from Binance, worth 9.06 million US dollars at the time.

DYDX（$DYDX）

Lookonchain pointed out that between December 7th and December 9th, a Whale (Address starting with: 0x9725) sold 206,100 UNI tokens worth $3.91 million and bought 1,065,000 $DYDX tokens worth $2.83 million.

Arkham data shows that as of December 10, the Whale holds 340,000 $UNI (worth $5.35 million), 1.71 million $DYDX (worth $3.53 million), and 5,000 $AAVE (worth $1.27 million), and has not sold even in the face of a short-term pullback.

Source: Arkham, a Whale, sold some $UNI and bought $DYDX instead.

Chainlink（$LINK）

Lookonchain pointed out on the afternoon of December 8th that a Whale (Address starting with: 0x924) withdrew 390,230 $LINK tokens (worth 9.68 million US dollars) from Binance and deposited them into the AAVE lending protocol.

Later, he borrowed 4 million $USDT from AAVE and deposited it into Binance, perhaps to buy more $LINK.

PEPE coin（$PEPE）

Lookonchain stated on the morning of December 8th that 2 wallet addresses (likely belonging to the same Whale) have spent 4.89 million USDC, purchasing 190.14 trillion PEPE coins ($PEPE) at an average price of $0.00002572 in the past 6 hours.

From December 8th to 10th, Lookonchain observed that Whale laid out at least 6 kinds of altcoins, holding a total value of at least over 5k million US dollars, about 1.6 billion New Taiwan dollars.

Is the altcoin season coming? Market Cap once again surpassed the previous high point

Prominent analyst Rekt Capital stated on December 9th that from a weekly perspective, AltCoinMarket Cap has surpassed the previous high point of $425 billion since November 2021 for the first time.

From the historical trend, AltCoinMarket Cap encountered the 4,250 billion US dollars resistance level twice in the previous Bull Market and experienced a significant pullback. This time, it broke through the previous high point, indicating that a new long positions trend is forming.

If the market can continue to stay above $425 billion in the future, it is expected that the next Altcoin Season, a period when altcoins outperform BTC, will come.

More altcoin coin season introductions: What are the AltCoins? Is 2024 the season of AltCoins?

When will the altcoin season come? Understand the current market situation of altcoins with 3 charts, should long positions take action?

'Holdings 1.6 billion coins! Has the mysterious Whale been buying these 6 coins recently, preparing for a big pump? 'This article was first published in 'encryption city'.