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Crypto markets are witnessing a surge in whale activity, particularly in Ethereum, Mantra, and Onyxcoin, as investors react to a recent tariff pause.
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Ethereum whale holdings have reached their highest levels since September 2023, indicating a potential shift in investor sentiment.
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“The resurgence in whale interests reflects growing bullish momentum within the crypto community,” stated a COINOTAG analyst.
Whale activity is escalating in Ethereum, Mantra, and Onyxcoin following the recent tariff pause, indicating renewed investor sentiment in the crypto market.
Ethereum (ETH) Whale Activity Signals Confidence
The crypto market is experiencing renewed interest in Ethereum (ETH) following Donald Trump’s announcement of a 90-day tariff pause, excluding China. This major geopolitical move has resulted in a surge of investor confidence, particularly among large ETH holders.
On-chain analytics reveal a significant uptick in whale activity. The number of addresses holding between 1,000 and 10,000 ETH has risen from 5,376 to 5,417 between April 9 and 10—marking the highest level of whale accumulation since September 2023.
Number of Addresses Holding Between 1,000 and 10,000 ETH. Source: Santiment.
If Ethereum continues to gain momentum, it may challenge key resistance levels, targeting $1,749, with potential rallies extending toward $1,954 and $2,104. However, the looming macroeconomic uncertainties could impact its trajectory.
Should there be a reversal in sentiment, a retest of the support zone at $1,412 is probable. A failure to hold this level could lead to a deeper correction, possibly touching prices around $1,200 or even $1,000.
Some analysts have voiced concerns over Ethereum’s structural strength, likening its current challenges to Nokia’s historical decline amidst disruptive competition.
Mantra (OM): RWA Narrative Gains Traction
Real-world assets (RWAs) in the blockchain space are reportedly exceeding $20 billion, creating a fresh narrative that is gaining traction among investors. This emerging sector showcases resilience, particularly during periods of market volatility.
According to Binance Research, RWA tokens have demonstrated greater stability compared to Bitcoin during recent tariff-related fluctuations, enhancing confidence in this segment.
Number of Addresses Holding Between 10,000 and 100,000 OM. Source: Santiment.
With the RWA narrative on the rise, Mantra (OM) could be on the verge of a significant upswing. Data from April 6 to April 10 shows an increase in whale addresses holding between 10,000 and 100,000 OM tokens from 386 to 389, indicating steady accumulation.
If OM can break through resistance at $6.51 and $6.85, it has the potential to rise above the $7 mark. Conversely, should enthusiasm fade, corrective actions may push OM down to $6.11, with risks of further decline toward $5.68.
Onyxcoin (XCN): A Rapid Surge in Whale Activity
Onyxcoin (XCN) has seen an impressive uptick, gaining over 50% in the past 24 hours, in line with a marked increase in whale accumulation.
From April 7 to April 10, the number of wallets holding between 1 million and 10 million XCN surged from 503 to 532, showcasing a growing interest from larger holders.
Number of Addresses Holding Between 1,000,000 and 10,000,000 XCN. Source: Santiment.
Should this bullish momentum persist, XCN could reach resistance levels around $0.026, $0.033, and even as high as $0.040. However, the rapid price increase signifies potential for a correction, with possible support levels at $0.020 and downside risks extending to $0.014 if selling pressure escalates.
Conclusion
The recent surge in whale activity across Ethereum, Mantra, and Onyxcoin signifies renewed optimism among investors. As the market reacts to geopolitical developments, these assets illustrate different narratives—from structural strength to the attraction of real-world assets. Investors should remain vigilant, monitoring resistance levels and macroeconomic factors that could influence future price movements.
