Crypto Whales Actively Accumulate DeFi Tokens MKR, LDO, and Utility Token APE

Trading activity in the crypto market has picked up this week, with the global cryptocurrency market cap rising by 2% over the past seven days.

Crypto whales, or large-volume traders, have been actively accumulating select altcoins this week, as evidenced by the substantial increase in their supply held by certain token cohorts.

Among the tokens seeing increased whale activity is Maker (MKR), a DeFi token that facilitates the generation and maintenance of the DAI stablecoin.

According to data from Santiment, whale addresses holding between 100,000 and 1,000,000 MKR tokens have accumulated 65,000 tokens over the past seven days.

At current market prices, this批量have acquired over $92 million worth of MKR tokens. In total, these whale addresses now hold 214,000 MKR, marking the highest count since April 2023.

This large-volume accumulation has contributed to a 41% price surge for MKR in the past seven days. At press time, the token trades at $1,436. If the鲸continue to accumulate MKR at this rate, it could push the token's price up to $1,780.

Another altcoin seeing increased whale accumulation this week is Lido (LDO), the governance token of the liquid staking protocol Lido.

Data from IntoTheBlock shows an 184% rise in LDO's large holders' netflow over the past seven days. For the uninitiated, large holders are investors who control more than 0.1% of an asset's circulating supply, and their netflow measures the difference between the coins they buy and sell over a set period.

When an asset’s large holders' netflow spikes, it signals that major investors are accumulating more coins. This bullish trend could encourage retail traders to follow suit, leading to increased demand and upward pressure on the asset's price.

LDO currently trades at $1.83, and if whale accumulation persists, it could push the coin's price above $2 in the near term.

Finally, crypto whales have also shown interest in ApeCoin (APE), the utility token of the popular NFT collective Bored Ape Yacht Club. Currently priced at $0.740, APE has seen a 9% price uptick in the past 24 hours.

During the period in review, whale addresses holding between 1 million and 10 million tokens have cumulatively acquired 2.93 million APE. As of this writing, this group of APE investors collectively hold 662.16 million tokens out of the circulating supply of 752.65 million.

Whale activity of this nature often signals strong confidence or strategic positioning ahead of potential price movements. Hence, if APE demand continues to increase, it may push its price toward $0.92.