A notable crypto market analyst has highlighted significant whale activity involving four major cryptocurrencies during this week’s market slump.
The tokens in focus are Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and XRP, all of which saw substantial accumulation by large investors.
Crypto strategist Ali Martinez shared that Cardano whales have been particularly active, amassing over 80 million ADA in just the last two days.
For Dogecoin, Martinez reported that investors holding between 10 million and 100 million DOGE seized the opportunity during the recent correction, purchasing 210 million DOGE.
Regarding Bitcoin, Martinez noted that high-net-worth investors are viewing every price drop as a buying opportunity. Over 340 new wallets holding at least 100 BTC were created as the flagship cryptocurrency’s price fell from $104,000 to $90,000.
Finally, XRP also attracted substantial interest during the dip. Wallets containing between 1 million and 10 million XRP accumulated over 100 million tokens during the correction, according to Martinez.
U.S. Bitcoin exchange-traded funds (ETFs) have experienced their most extended period of withdrawals since launching in January 2024, with over $5.5 billion in outflows over the past five weeks.
Standard Chartered has significantly adjusted its forecast for Ether’s price in 2025, now predicting it will reach only $4,000, down from an earlier target of $10,000.
Ethereum may have found a firm price floor, with blockchain data suggesting that $1,886 is a key accumulation zone.
Strategy, formerly known as MicroStrategy, has continued its aggressive Bitcoin accumulation, acquiring an additional 130 BTC for approximately $10.7 million.