Polygon (MATIC), Litecoin (LTC), and Ethereum (ETH) Whales Accumulate Ahead of Potential Market Rally

The broader cryptocurrency market has shown a solid recovery this week, reflected by a 4% increase in capitalization. This rebound has led crypto whales

Crypto whales are accumulating various altcoins in anticipation of potential gains as market conditions improve.

Among the top 100 cryptocurrencies, MATIC has garnered the most attention from whales. In preparation for the upcoming token migration from MATIC to POL, which is scheduled for September 4, the asset's value has surged by 33%.

This strong performance has attracted the interest of large investors, evidenced by a surge in whale addresses holding between 1,000,000 and 100,000,000 MATIC tokens, reaching a one-month high of 316.

Data from IntoTheBlock reveals a significant increase in whale accumulation for Litecoin (LTC) over the past seven days. According to the analysis, the coin's large holders' netflow has surged by 141%.

For an asset, large holders are defined as addresses that hold over 0.1% of the circulating supply. The large holders' netflow tracks the buying and selling activities of these wallets.

When this metric rises, it signals that whales are accumulating more coins, which is a bullish indicator that often drives retail investors to follow suit. A positive spike in large holders' netflow suggests growing optimism among major investors, indicating the potential for an upcoming rally.

At press time, LTC is trading at $64.08. If whale accumulation continues, the price could climb above $70, potentially reaching $73.87.

Despite encountering strong resistance at the $2,700 price level, Ethereum (ETH) whales are increasing their holdings.

Currently, ETH trades at $2,674, and its price has been moving within a narrow range since August 9. It encounters resistance at $2,715 and finds support at $2,538.

These sideways movements haven't discouraged ETH whales from accumulating more. According to Santiment, the number of whale addresses holding between 10,000 and 100,000 ETH has reached 1,008, the highest level in over a month.

This steady accumulation suggests that large holders remain optimistic about ETH’s future, even as the asset faces key resistance levels.

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