Whales are significant entities in the cryptocurrency market and that’s because of the impact they can have on the market by simply buying or selling a certain amount of cryptocurrency. Whales are wallets that buy certain tokens in massive quantities, either to hold or to sell off for profit. 

Historically, whale token movements have always had a significant impact on the market, either bullish or bearish. This is why it’s important to watch token movements from these heavy duty carriers, in order to make informed decisions on investment.

Today, we will be looking at some whale accumulation in the last 24 hours. Let’s see what tokens the top addresses are picking up and see how much price impact they will have on them progressively. 

• $LDO (Lido DAO Token) Whale Accumulation

Notably, the first on our list this morning is $LDO as FalconX has quietly been accumulating a significant amount of $LDO tokens. These recent transactions from FalconX indicate significant interest in the token. According to data from Lookonchain, within just three days, FalconX is pulling a whopping total of 5.25 million $LDO (which is equivalent to $8.13 million) from #Binance. Thereby, raising its current holdings to 7.01 million $LDO ($10.94 million). 

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Additionally, a new wallet has also recently withdrawn 1.36 million $LDO ($2.07 million) from Binance crypto exchange, signaling further accumulation activity for the token. This is definitely the first in the list because once institutional accumulation sets in, traders should be on the lookout for a possible price reaction. 

• $LINK (Chainlink) Whale Accumulation

Secondly, from recent data, an institution with 81 freshly created wallets is also consistently accumulating $LINK. Of course, this is particularly happening just after the recent price decline in $LINK. So far, this institution has accumulated a massive amount of holdings, totaling 7.66 million $LINK ($56 million) from #Binance since September 19. 

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It’s important to mention that their unwavering commitment to gathering $LINK suggests their belief in the token’s long-term potential.

• $LQTY (liquity USD) Whale Accumulation

Thirdly, we have a bit of a different scenario here for $LQTY and that’s because whales have restarted their accumulation activities. Recall, the value of $LQTY recently surged by approximately 20%, hitting a one-month peak. A key figure in these recent price movements is suspected to be due to some token movement by clairvoyantlabs.eth, or @ClairvoyantLabs.

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After the price spike, this address deposited 400,000 $LQTY tokens (which is equivalent to $584,000) into Binance cryptocurrency exchange. Intriguingly, this address had previously withdrawn 1.07 million $LQTY ($905,000 at the time) from #Binance on September 8. 

Subsequently, following $LQTY’s first price hike on September 27, clairvoyantlabs.eth began depositing $LQTY on Binance for selling. Of course, this action resulted in a total profit of approximately $412,000 (a 45% increase) for the address. 

However, another remarkable action is unfolding at the moment, just about 20 minutes ago, a new wallet withdrew 995,604 $LQTY ($1.45 million) from Binance exchange. This indicates that $LQTY remains a token of interest among traders and should be under your radar this week. 

Conclusion

Remember, whale activity is one major market movement event and if you’re looking at making informed investments, then keep a close eye on these addresses holding a significant amount of these tokens. Whether to sell it or not, should help you decide on whether to buy into a market position or not as well. 

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