The third week of September has seen an uptick in broader crypto market participation, with renewed buying pressure lifting the global crypto market capitalization up 3% over the past seven days.
This rebound has not gone unnoticed by large investors, as whale activity shows increasing accumulation of select altcoins.
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LINK, the native token of leading oracle network provider Chainlink, is one of the tokens crypto whales bought this week.
According to on-chain data from Santiment, during the period in review, whale addresses holding between 100,000 and 1 million LINK have acquired 2.5 million tokens valued at above $61 million at current market prices.
As of this writing, LINK trades at $24.43. If whale accumulation persists, it could push the altcoin’s price toward $26.89, a high it last reached on August 23.
LINK Price Analysis. Source: TradingViewOn the other hand, if demand falls, LINK’s price could reverse its trend and drop below $23.48.
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Cronos (CRO)
Cronos (CRO) has also emerged as a whale favorite this week, with large-holder activity spiking by 29% over the past seven days, according to Nansen data.
CRO Whale Activity. Source: NansenThe uptick in accumulation signals renewed confidence among big-money players in the token.
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If this wave of whale buying continues, it could provide the momentum needed to push CRO toward the $0.27 level.
CRO Price Analysis. Source: TradingViewConversely, if demand weakens, the token risks sliding back toward $0.19 in the near term.
Toncoin (TON)
TON’s recent price consolidation over the past few days has opened the door for accumulation by some crypto whales.
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According to on-chain data from Santiment, whale addresses holding between 1 million and 10 million TON tokens have increased their holdings by 5% during the week under review.
TON Supply Distribution: Source: SantimentIf this trend continues, TON could break out of its sideways trend and rally $3.20.
TON Price Analysis. Source: TradingViewHowever, once selloffs resume, its price could fall to $3.04.
Source: https://beincrypto.com/crypto-whales-bought-these-altcoins-this-week/
