What Crypto Whales Are Buying for Gains in October

The first half of September noticed an uptick in buying and selling exercise. Many belongings capitalized on the improved sentiment, climbing to native peaks as buy-side stress strengthened throughout the market. 

However, momentum started to shift regularly on September 14. As demand for Bitcoin weakened, bearish stress spilled into the broader market and dampened total sentiment. Despite the slowdown, giant buyers have used the chance to extend their holdings of sure belongings, positioning themselves for potential positive factors in October.

Litecoin (LTC)

At the time of writing, Layer-1 (L1) coin LTC trades at $65, down 5% in the final 30 days. This has offered an accumulation window, as whales seem like betting on a restoration in the approaching weeks.

According to Sanmtiment, whales holding between 10,000 and 100,000 tokens have gathered 300,000 LTC valued at roughly $31.6 million over the previous month. 

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If this accumulation persists into the brand new months, it may push the coin’s worth previous the resistance at $109.91 and towards $119.47.

On the opposite hand, if the bears strengthen their grip, they might power a dip towards $98.43.

SPX6900 (SPX)

Decentralized meme coin SPX is one other altcoin that crypto whales are accumulating for potential positive factors in the approaching month. The altcoin’s worth is down almost 15% in the previous month, opening the door for strategic accumulation by a few of its largest holders. 

Per Santiment, addresses holding between 10 million and 100 million SPX tokens have snapped up 23.04 million cash in the previous 10 days alone, indicating the rising conviction amongst this cohort of buyers. 

If this shopping for pattern continues, it may set off a breach of the resistance at $1.0286 and push SPX’s worth towards $1.2681. 

However, as soon as selloffs resume, its worth may fall to $0.8189, a low final reached in May.

Ondo (ONDO)

According to knowledge from Nansen, spot whales holding ONDO tokens price greater than $1 million have elevated their holdings by 10% over the previous month. 

During the identical interval, the 100 largest crypto whales additionally boosted their ONDO positions by 1%, including to optimism for a positive October for the altcoin.

These will increase in exercise by giant token holders level to rising institutional confidence and recommend that whales are positioning early for potential upside.

If the buildup pattern continues, ONDO’s worth may climb above $0.8955.

However, if demand falters, the token dangers sliding again towards $0.8308.

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