Key Takeaways
- Whales purchased $6 million worth of HYPE, with on-chain data suggesting a possible rally.
- The 13th largest ARB holder added $27 million worth of tokens, increasing the large netflow.
- Whale addresses holding over 1 billion SKY tokens increased their assets to 26.57 billion.
As Q3 kicks off, all eyes are on what the whales are doing, and this July, a few altcoins are clearly on their radar.
Crypto whales, with their deep pockets and market-moving trades, have a long history of signaling where the smart money is going.
And despite the market entering what many see as a more stable phase, their influence isn’t fading.
In this piece, we break down the top three altcoins attracting whale attention right now and what that could mean for prices in the weeks ahead.
Hyperliquid (HYPE)
HYPE, the native token of the Hyperliquid ecosystem, is right at the top of the list for whale interest heading into July.
After hitting an all-time high of $45.59 on June 16, HYPE briefly cooled off, dipping below $40. But on-chain activity suggests big players aren’t done yet.
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According to data from Spot On Chain , one whale scooped up nearly $6 million worth of HYPE on June 27.
Just this morning, two more wallets, likely linked to the same entity, opened fresh long positions, signaling renewed bullish bets.
If whale accumulation continues at this pace, HYPE could make another run at its all-time high, and potentially break through to $50.
In a more explosive scenario, a push toward $60 isn’t out of the question.
But as always with altcoins, this momentum hinges on whether whales keep buying. If the big wallets pause, a short-term correction could be in the cards.
Arbitrum (ARB)
Next on the list of altcoins whales are buying is ARB. Surprisingly, ARB’s price has increased by nearly 40% in the last seven days, with our findings showing that whales played a role.
According to data from Arkham Intelligence, the 13th largest holder of ARB accumulated more tokens recently. Specifically, it added 77.12 million ARB worth over $27 million to its holdings.
Following the move, on-chain data from IntoTheBlock shows a spike in Arbitrum’s large holders’ netflow. The rise in netflow indicates that most of the top whales have bought more tokens than they have sold.
If this trend continues, ARB’s price might increase to $1 in July. On the contrary, this prediction might not happen if profit-taking increases, as this could drive ARB toward its all-time low.
Sky (SKY)
Third on the list of altcoins that whales are buying is SKY. For those unfamiliar with it, SKY is the native token of the upgraded Maker protocol.
SKY’s price has increased by nearly 25% this month. With a new month approaching, it seems that the altcoin might rebound and not give up its gains.
One reason for this prediction is the balance held by whale addresses. According to Santiment, the number of tokens held by whales who own over 1 billion SKY has increased to 26.57 billion.
As it stands, it seems that whales might continue to add to this. If that happens, SKY’s price might outperform in July.
Alternatively, increased selling pressure might invalidate this forecast.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
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