What are crypto Whales buying amid geopolitical tensions

In the context of escalating geopolitical tensions in the Middle East, the crypto market has experienced significant volatility this week.

However, large-scale holders, often referred to as whales, are still actively and carefully accumulating altcoins with strong price potential. Some top choices include Ethereum, Bitcoin Cash, and Litecoin.

Ethereum (ETH)

Although prices have not been very promising this week, the top altcoin ETH is one of the assets that whales have been accumulating during the week as the market heads towards intense volatility.

According to IntoTheBlock, this is evidenced by the net inflow of large holders, increasing by more than 7,000% in the past 7 days.

The net cash flow of large ETH holders | Source: IntoTheBlockThe net cash flow of large holders measures the difference between the amount of tokens that whales buy and sell over a certain period of time. When it increases, the indicator shows strong accumulation from whales, indicating confidence or bullish prospects for the asset.

If this situation continues, this altcoin may start a new price surge, surpassing the $2,500 mark.

Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is another type of asset that whales are buying in the context of geopolitical instability in the Middle East.

Data from Santiment shows an increase in the number of holdings from wallet addresses holding between 1,000 to 10,000 BCH. In the assessed week, this group of BCH holders purchased 40,000 tokens valued at over 19 million USD at the current market price.

BCH supply distribution | Source: SantimentThis altcoin is currently trading around $470, down nearly 5% on the day amid a tense market sentiment.

Dogecoin (DOGE)

Dogecoin (DOGE) has also attracted attention from whales this week. On-chain data from Santiment shows an accumulation increase from large holders holding between 100 million to 1 billion DOGE.

In the past week, the group has collectively purchased 140 million DOGE, with a total value of the purchases exceeding 24 million USD.

Distribution of DOGE supply | Source: SantimentThe accumulation increase of whales is a bullish signal for the short-term outlook of this memecoin. If the growth momentum builds, this accumulation wave could lay the foundation for a short-term recovery or even a breakout from the current price.

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