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As the crypto field is poised for a potential rebound, major altcoins like Ethereum ($ETH), Fartcoin ($FARTCOIN), and Hyperliquid ($HYPE) are becoming choice’s of major crypto whales. The smart money’s move for these assets, is fiercely hinting that a market resurgence in June, seems more likely then ever.
Similarly, the top crypto $BTC also showered optimism, as its spot ETFs faced three consecutive days of outflows, and data from Santiment shows that whales have a worth of over $8.3 billion, just last week.
Meanwhile, its strong correlation with the Global M2 money supply has increased experts’ conviction for its price to hit $150,000. These growing bullish factors suggests that the next crypto sector’s brewing alt season could be even more parabolic than previous cycles.
As, $BTC aside, Whales are stacking altcoins in anticipation of a rally. In late May, the sector saw a slowdown, but this dip has not deterred major investors, who are seizing the opportunity to accumulate promising altcoins. Keep reading as crypto whales are setting the stage for a significant shift as we have moved already into June.
Ethereum ($ETH)
According to data from Lookonchain, a crypto whale utilized Galaxy Digital’s OTC wallet to obtain 108,278 $ETH, amounting to $283 million. Before several hours of this move, this whale had already withdrawn 89,000 $ETH, amounting to $233 million. Now, all combined 139,476 $ETH amounting to $365 Million in total sits in a wallet address “0x0b26”.
This move is not any reckless move, the way address moved his assets clearly showed a well-devised accumulation strategy that has been made for future increase in Ethereum’s price.
Additionally, on the daily chart, the $ETH price is above major EMAs and seems the Fibonacci 50% zone is set to break in June for the Fibonacci 78.6% and 100% targets (Q4 2024’s High).
Fartcoin ($FARTCOIN)
Apart from the second most dominant crypto, which has attracted significant attention from Crypto whales, is Fartcoin ($FARTCOIN).
According to data from Lookonchain, three whales purchased 9.2 million $FARTCOIN, amounting to $9.5 million, showing a highly optimistic vision for $FARTCOIN’s growth potential.
At the time of writing, $FARTCOIN is trading at $0.8910, down 5.7% over the past 24 hours. However, some traders remain quite optimistic after knowing the whale’s activity, the long-term price of this meme could go to the Fibonacci 100% level around $ATH $2.7321, but a crash would lead to its lowest demand zone.
Hyperliquid ($HYPE)
The recent surge in $HYPE is due to the hype around a trader named James Wynn on Hyperliquid and the BINANCE listing announcement.
Amid this optimism, data from OnchainLens highlights that one crypto whale spent an amount worth $6 million over a consistent three days to buy over 170,000 $HYPE.
Taking into account all bullish factors of recent times, the participation of large investors has increased, which indicates strong confidence in the $HYPE price’s long-term potential. Per the Fibonacci, if $ATH is broken, then $58 is likely next.