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Whales Accumulate Altcoins Amid Market Recovery Signals
On-chain data indicates that large holders are quietly increasing their positions in select altcoins, displaying breakout patterns, early divergences, and strong technical setups. These movements suggest that institutional investors may be positioning for a potential market recovery, even if retail participation remains limited.
Aster (ASTER): Whale Interest on BNB Chain
Arthur Hayes highlights that Aster (ASTER), a decentralized trading project on the BNB Chain, has seen notable accumulation. “In the past 24 hours, Aster whales have increased their holdings by 12.58%, now owning 43.62 million ASTER,” Hayes notes.
This indicates roughly 4.9 million tokens, valued at $5.46 million, were added. Interestingly, exchange balances also rose slightly by 0.72%, suggesting that some retail or early investors might be taking profits while whales continue to accumulate quietly.
Technically, ASTER is trading within a falling wedge—a pattern often signaling potential bullish reversals as prices consolidate. Hayes points out that the sharp drop on November 4 was followed by a bullish divergence on the Relative Strength Index (RSI). “Between October 10 and November 3, ASTER’s price made a lower low while RSI formed a higher low,” he explains, indicating easing selling pressure.
If momentum continues, a breakout above $1.28 and then $1.53 could confirm a bullish structure, with key support remaining at $0.93.
Bio Protocol (BIO): Accumulation During Stabilization
Bio Protocol (BIO), a decentralized science (DeSci) project on Ethereum, has also attracted whale interest. Despite a 44.2% decline over the past month, the token has traded relatively flat in the last 24 hours, suggesting stabilization.
Hayes reports, “In the last day, Bio Protocol whales have increased their holdings by 87.07%, now holding 1.89 million BIO.” Mega whales, or the top 100 addresses, have also expanded slightly by 0.07%, adding another 2.09 million tokens. In total, approximately 2.97 million BIO, worth around $226,000, were accumulated.
Technical indicators support this activity. The On-Balance Volume (OBV) line, which measures cumulative buying and selling, had formed a downward trend since late September. A breakout above this trendline recently aligns with price upticks. Hayes observes that if this OBV breakout sustains, resistance near $0.097 could be tested, potentially opening paths toward $0.12 and $0.16.
Syrup (SYRUP): DeFi Whale Accumulation
Syrup (SYRUP), the native token of Maple Finance’s staking and lending platform, has seen significant whale activity since the market-wide pullback on November 4. Two whale cohorts have been active:
- Larger whales (holding 100 million–1 billion SYRUP) increased holdings by 230,000 tokens.
- Smaller whales (10 million–100 million SYRUP) boosted their holdings from 397.29 million to 425.09 million tokens, a gain of 27.8 million tokens.
In total, nearly 28 million SYRUP ($11.5 million) were added, reflecting renewed confidence among major holders.
Technical signals support this accumulation. Between August 25 and November 4, RSI on the daily chart formed a bullish divergence. Additionally, the Chaikin Money Flow (CMF) recently broke slightly above a downward trendline, indicating fresh inflows. Hayes notes, “The next confirmation for SYRUP’s recovery would be if the CMF moves above zero, validating sustained buying momentum.” First resistance is at $0.46, with support at $0.36.
