Crypto whales, often seen as the “smart money” in digital assets, have been loading up on select altcoins during the recent market pullback. Their activity gives a glimpse into where major capital may flow next. With October shaping up to be a critical month for crypto, here are three altcoins that whales are quietly accumulating.
Ethereum (ETH): Buying the Dip
Ethereum has slipped below $4,000, marking a 14% decline in the past month. Despite the weakness, whales are accumulating aggressively. Over 406,000 ETH, worth more than $1.6 billion, has been added to whale wallets in recent days.
Ethereum’s fundamentals remain strong. Transaction fees are falling, and developers continue to improve the network. Some market leaders even compare ETH’s future trajectory to Bitcoin’s early growth. Tom Lee’s firm Bitmine has accumulated nearly $9 billion worth of ETH. Whales view the current dip as a buying opportunity ahead of potential upside later in the year.
Aster (ASTER): Backed by Binance
Aster, a new entrant in the perpetual DEX space, launched on September 17 and has already surged over 240%. Supported by Binance and CZ, Aster is seen as a challenger to Hyperliquid’s dominance.
In just two days, whales purchased more than $48 million worth of Aster tokens. Backing from Binance gives the project credibility and resources, which could fuel long-term growth. If Aster captures even a fraction of Hyperliquid’s market, its price could multiply several times from current levels.
Plasma (XPL): Backed by Big Names
Plasma (XPL) is a stablecoin-focused layer 1 blockchain that launched only days ago. Despite being new, it has attracted strong whale activity. Backers include Bitfinex and billionaire Peter Thiel’s Founders Club, adding weight to the project.
XPL has already risen from $0.70 to $1.21 since launch. One whale secured over $2.7 million worth of tokens during the public sale, while others accumulated at just $0.05. Even Justin Sun of Tron fame jumped in, making a quick $16 million profit from trading XPL. While still highly speculative, the project’s strong backers and whale interest make it one to watch closely.