At the beginning of the year, most people were still fine-tuning their trading systems, while on-chain whales had already quietly started to act.

Recently, a notable move: a top whale address injected 8 million USDC at the start of 2026, simultaneously deploying a multi-chain long portfolio across several blockchains. According to position tracking data, this operation has currently realized a profit of $2.8 million.

In terms of asset selection, BTC remains a core holding, while mid-cap tokens like XPL, PUMP, and MON have also been included in the portfolio—this reflects an increasing risk appetite in the current market, with whales no longer satisfied with the returns from a single large-cap coin.

The key question is: what is the logic behind this multi-asset, cross-chain configuration? Is it a gamble on a rebound of risk assets? Or is it an early deployment based on certain on-chain data signals? Looking at the holding duration, the timing is quite tight, indicating that the entry points are not chosen arbitrarily.

For retail investors, blindly copying whale holdings carries significant risk. However, by observing their token selection criteria, allocation ratios, and timing, one can indeed identify which sectors are currently being prioritized in the market.