Over the last two weeks of April 2025, crypto whales activity has been surging across multiple chains and everyone is wondering what’s next for the digital asset market. Notably, accumulation has been happening in Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and new altcoins like Ethena (ENA), Worldcoin (WLD), Floki Inu (FLOKI) and KuCoin Token (KCS). Each of these assets is showing strong on-chain signals that indicate a broader shift in market momentum.
Bitcoin and Ethereum Whales are Long-Term Bullish
Over 43,100 BTC, worth over $4 billion at current prices, has been accumulated by whales over the last two weeks. This accumulation follows the recent correction when Bitcoin dipped below $75,000. This week’s bounce back to $97,000 has been supported by big on-chain buying, showing whales are back in the game. These are not just speculative accumulation, they are based on macro sentiment that suggests a long term bull run for Bitcoin.
Ethereum has also seen big crypto whales activity, especially large withdrawals from centralized exchanges. On May 2, 2025, millions of dollars worth of ETH was reportedly moved out of exchanges and into private wallets, a classic sign that whales are holding rather than selling. When this happens, it reduces the available supply of ETH on exchanges and decreases the sell pressure and increases the chance of a price rally if demand keeps growing.
Ethereum is currently testing the resistance at $1,800 and if that level is broken with volume, it could be a new yearly high. The alignment between on-chain withdrawals and price strength suggests whales are positioning for a long term rally, maybe waiting for staking yields or Ethereum Layer-2 to kick in.
Dogecoin and Altcoins are seeing Strategic Whale Activity
Dogecoin is again in the crosshairs of crypto whales. Over the last 7 days, over 100 million DOGE has been accumulated by big holders. The timing of this accumulation is interesting as it coincides with speculation about a Dogecoin ETF or new use-case integrations within the Tesla ecosystem.
Despite DOGE’s volatility, whale activity of this magnitude means big players are positioning themselves for a catalyst. The current range is between $0.16 and $0.18 but a break above $0.20 could be a return to speculative fever like 2021.
Among altcoins, Ethena is the focal point of crypto whales accumulation. After a dip, whales are accumulating ENA again, signaling they believe in its recovery. The project has gotten attention for its hybrid yield-generating mechanisms and cross-chain utility, features that are becoming more attractive in a saturated altcoin market.
Worldcoin is another project getting serious attention. As its World ID verification protocol expands and rumors swirl about a Coinbase listing, whales are positioning themselves for a big move. Large purchases have driven volume spikes, showing institutional and retail interest merging at a critical point.
Floki Inu, another meme-based cryptocurrency, is seeing renewed interest thanks to its growing ecosystem and aggressive marketing. Whale purchases have been timed with product launch announcements and governance upgrades, not speculative bets.
KuCoin Token has seen a 1,000% increase in whale transactions, tied to rumors of strategic partnerships and upcoming exchange utility enhancements. This shows whales are not just focused on the top tier coins but are willing to bet on lower cap assets with high growth potential.
Broader Market Sentiment and Institutional Inflows
Previously, whale accumulation has preceded big bull runs. Big holders buy during dips or sideways price action, often the bottom of market corrections. Their conviction and capital can be a psychological and liquidity driven catalyst for retail to follow. And the alignment of whale behavior across multiple assets means there is a coordinated market view that sentiment is improving after a tough Q1.
Beyond individual assets, the overall increase in crypto whales transactions means institutional capital is flowing back into the crypto market. This capital is strategic and long term, focused on protocols and assets with strong fundamentals, network effects and use-case viability. The fact this is happening across large cap and mid cap coins means there is broad based confidence in the crypto recovery.
Increased whale accumulation also correlates with improving on-chain metrics like rising active addresses, higher transaction volume and reduced exchange reserves. All of these trends mean the market is shifting from distribution to accumulation phase. For investors this is a good risk-reward, especially when confirmed by macro indicators like declining inflation, stable interest rates and positive regulatory news.
Conclusion: A Coordinated Bullish Signal?
The activity of crypto whales is also happening at a time when traditional markets are getting volatile and pushing more investors into decentralized assets. The narrative around utility is expanding and whales are betting not just on speculative gains but on the long term evolution of blockchain finance.
In summary, the recent surge in whale activity across BTC, ETH, DOGE and a bunch of other promising altcoins is not a coincidence. It’s a calculated re-entry into the market by some of the biggest players. Be it Bitcoin as digital gold, Ethereum’s expanding ecosystem or new altcoin projects, whales are making moves that suggest they see big upside in the coming months.
As history has shown, following the whales is not a guaranteed strategy but it’s often a very informative one. With on-chain metrics aligning and macro sentiment stabilizing, the crypto market might be about to enter its next bull run.
FAQs
Why is crypto whales activity important in the crypto market?
Whale activity often signals big market moves because large holders accumulate during low price and sell at peaks, giving us early insight into market sentiment shifts.
How do analysts track whale activity?
Whale movements are tracked using blockchain explorers and on-chain analytics platforms like Whale Alert, Glassnode and Santiment which provide data on large transfers and wallet behavior.
What does a large exchange outflow mean?
When a large amount of a cryptocurrency is withdrawn from exchanges, it usually means investors plan to hold the asset long term which reduces immediate selling pressure.
Which altcoins are whales targeting?
Besides BTC, ETH and DOGE, ‘altcoins like Ethena (ENA), Worldcoin (WLD), Floki Inu (FLOKI) and KuCoin Token (KCS) are seeing whale interest due to ecosystem developments and upcoming catalysts.
Glossary
Whale: An individual or institution holding large amounts of cryptocurrency, capable of moving the market with big trades.
On-Chain Data: Publicly recorded data on the blockchain used to analyze transaction trends, wallet movements and market behavior.
Exchange Outflow: A metric showing cryptocurrency moving from exchange wallets to private wallets, often means holding intentions.
TVL (Total Value Locked): The total value of assets locked in DeFi protocols, often seen as a measure of confidence and adoption.
Layer-2: A secondary framework built on top of a blockchain to increase scalability and efficiency.
Sources
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