Major Cryptocurrency Investors Purchased These Alternative Coins During the Second Week of May 2025
The crypto market has taken off like a rocket this week, all thanks to the US Fed keeping interest rates steady. As the broader market celebrates this rally, on-chain data shows big-time crypto players have been hoarding several key altcoins.
Here's a rundown of the top altcoins that crypto whales have been snapping up in the second week of May.
Ethereum (ETH)
Leading altcoin ETH is definitely on the radar of crypto whales as they've been pouring cash into this asset this week. The ethereum party has started thanks to the Fed's laid-back approach and the implementation of the Pectra Upgrade a couple of days ago. These factors have fueled the bulls, and the whales aren't shy about jumping on board. According to IntoTheBlock, ETH's big-time investors have seen a whopping 374% increase in their net purchases over the past week.
A big-time investor, in this case, is a wallet that controls more than 0.1% of an asset's circulating supply. Their netflow measure the dance between coins flowing in and out of these wallets.
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Join Plus500 Now! A surge in netflow spells more accumulation by whales, a positive sign that may have retail investors toeing the line.
In Ethereum's case, the recent explosion in these investors' net flow suggests that major players are feeling confident, and that might help the price stick around $2,000 in the short term.
Apecoin (APE)
APE is another coin that whales have added to their collections this week. As we speak, ApeCoin trades at $0.61, up a hearty 13% in the last seven days. Whale addresses hoarding between 10,000 and 100,000 tokens have grabbed 640,000 APE during those days.
This group of ApeCoin investors is currently squatting on 30.94 million tokens, the highest level since November 2022. The rise in these accounts' stash signals a revived interest in APE, hinting that big players are putting their chips down for potential wins.
Polygon (POL)
Polygon, formerly known as Matic, is another coin on whales' shopping list this week. As per Santiment, whale addresses holding between 1 million and 10 million tokens have grabbed 3.24 million POL in the last week.
These POL bigwigs now own 308.34 million tokens. If the whale accumulation continues, Polygon might extend its ongoing rally in the near future.
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In a nutshell, various factors seem to be driving the increased accumulation of Ethereum, Apecoin, and Polygon by whales. These might include a change in sentiment, scarcity of coins, whale withdrawals, and strategic buying strategies. The exact context for accumulations in May 2023 may not be explicitly explained in the available data, but observations from more recent trends can offer insights.
Stay tuned for more crypto insights! Disclaimer: This analysis article is purely for informational purposes and should not be regarded as financial or investment advice. BeInCrypto aims for accurate, unbiased reporting, but market conditions can change rapidly, so always perform your own research and consult with professionals before making any financial decisions. Our Terms and Conditions, Privacy Policy, and Disclaimers have been recently updated.
- Crypto whales have been investing significantly in Ethereum (ETH) this week, driven by the Fed's laid-back approach and the Pectra Upgrade implementation.
- Net flow data reveals a 374% increase in purchases by ETH's big-time investors over the past week, indicating accumulation that could positively impact the price.
- ApeCoin (APE) is another altcoin that whales have been snapping up, with a 13% increase in the last seven days.
- Whale addresses holding between 10,000 and 100,000 APE tokens have accumulated 640,000 APE in the same period.
- The surge in these ApeCoin investors' net flow suggests that big players are confident, potentially signaling a price stability around $2,000 for Ethereum in the short term.
- Polygon (POL) has also been on the whales' shopping list, with whale addresses holding between 1 million and 10 million tokens accumulating 3.24 million POL in the last week.
- In the crypto market, factors such as changes in sentiment, scarcity of coins, whale withdrawals, and strategic buying strategies might be contributing to the increase in altcoin accumulation by whales, as observed in May 2023.
- Before making any financial decisions, it is essential to perform your own research and consult with professionals, as market conditions can change rapidly.