Large cryptocurrency holders are building positions in three altcoins as September concludes, according to data from Santiment and Nansen. The accumulation patterns reveal distinct strategies across the three tokens.
Aave Sees Clearest Whale Buying
Wallets holding between 100,000 and 1 million AAVE tokens added roughly 190,000 tokens since September 28, worth approximately $30 million at current prices. The buying occurred as AAVE rose toward $176, and holders maintained their positions through a subsequent pullback.
The accumulation coincided with Aave's V4 deployment reaching $400 million in active loans. AAVE currently trades near $160, with support around $155 and resistance at $176.
Uniswap Whales Buy the Dip
Uniswap presents a different pattern. Whales added about 1.13 million UNI tokens since September 28, worth roughly $10 million, even as the token fell from $9.66 toward $8.45. This buying during a price decline suggests dip-purchasing.
However, whale holdings remain below levels seen earlier in September, indicating the latest accumulation has only partially recovered previous selling. UNI's key technical level sits around $8.45.
Moonriver Shows Speculative Momentum
Moonriver stands apart from the other two accumulations. MOVR surged nearly 80% in 24 hours, with top 100 address balances rising by more than 11% according to Nansen data. This aggressive momentum buying carries elevated risk given MOVR's market cap of roughly $22 million, where relatively small flows can produce sharp price movements.
Macro Context
The whale activity occurs as US inflation data came in lower than expected and Federal Reserve rate hike odds for October declined. However, sustained market conditions would depend largely on macro developments following the November US midterms.
