Coinspeaker
4 hours ago
1 0

Altcoin Rally Update: Whales Loading Up on ENA, LINK, and AAVE

The altcoin market shows signs of a potential bullish reversal, with whales and institutions aggressively accumulating three major tokens: Ethena (ENA), Chainlink (LINK), and Aave (AAVE).

Key Accumulation Activities

  • A mysterious whale purchased 17.76 million ENA worth 5.1 million USDC at an average price of $0.2874 after withdrawing 13.11 million USDC from Binance and Bybit.
  • Another whale "0xE9D0" added 40,433 AAVE valued at $7.1 million over five days, totaling 292,838 AAVE accumulated over three years with $4.6 million in unrealized profits.
  • Chainlink Reserve acquired 89,079 LINK ($1.2 million), increasing total holdings to 973,753 LINK. This strategy aims to support long-term network sustainability using off-chain revenue and on-chain fees.

TOTAL3 Chart Analysis

  • The TOTAL3 chart, excluding ETH, indicates a descending wedge formation, hinting at a possible breakout. Targets include $1.06T and $1.22T if resistance is breached.
  • A failure to surpass the red resistance zone near $906B–$936B could result in a retest of the $830B–$770B area, potentially impacting ENA, LINK, and AAVE negatively.

TradingView Chart

Source: TradingView