Ramazan Eles 
Whale activity on the rise as they scoop up four altcoins in a $16 million buying spree
New wallets and fresh capital entering the market
According to blockchain analytics platform Lookonchain, whales have been accumulating altcoins in significant amounts since yesterday evening. These whales appear to be new entrants to the market, bringing in fresh capital.
One whale withdrew 870,827 Uniswap (UNI) from OKX this morning, worth approximately $8.5 million. At the same time, another whale was spotted purchasing 7.69 million Bluzelle (BLZ) worth $2.16 million from Binance. Both of these whales’ wallets hold no other tokens besides UNI and BLZ.
PEPE gains traction as whales accumulate
Two different whale addresses have withdrawn a total of 303.4 billion PEPE from Binance and OKX exchanges since yesterday evening. This represents $3.8 million. One of these whales had also invested in PEPE in recent weeks. Their wallet holds a total of 438.5 billion PEPE.
PEPE, one of the largest meme coins with a market capitalization of $5.3 billion, entered this week with a 1.9% increase.
TRB also on the whales’ radar
According to Etherscan records, another whale purchased 20,628 TRB ($1.9 million) from Binance.
Blockchain data reveals whales’ holding power
According to blockchain data, none of these whales have sold any of these tokens so far.
The surge in whale activity suggests renewed confidence in the altcoin market. Whether this buying spree will translate into sustained price gains remains to be seen.