In late September 2025, data from the on-chain analysis firm Nansen reveals a notable accumulation of altcoins recently listed, such as AVNT, POPCAT, and TROLL. Large-scale investors, known as “whales,” have been withdrawing these tokens from centralized exchanges, suggesting strong confidence in their future prospects despite the broader market correction. A strong signal of confidence.
The hard data unequivocally supports this trend. Avantis (AVNT), the governance token of the perpetuals DEX Avantis, saw a 5.4% drop in its reserves on exchanges during the last week of September. Simultaneously, holdings in the top 100 wallets increased by 2.87%, in a context where the token reached over a billion dollars in daily trading volume after its listing on platforms like Binance and Upbit. This demonstrates the interest in DEX tokens.
On the other hand, Popcat (POPCAT), a popular meme token from the Solana ecosystem, saw its exchange reserves decrease by 4.9%, dropping from 485 to 456 million tokens. Meanwhile, whales increased their positions by 5.8%. This move is particularly significant as it occurred while the asset’s price fell by more than 30%, indicating that investors bought during the dip.
Finally, Troll (TROLL) featured the most drastic movement. Following its recent listing on Coinbase, its reserves on centralized platforms plummeted by 18.8%. Conversely, the top wallets increased their holdings by 3.4%. The TROLL community also generated nearly 304,000 posts on the social network X in the last 30 days, according to data from Stalkchain, which points to an active accumulation while they wait.
Keys to the Accumulation Strategy
This accumulation of altcoins strategy is relevant because it runs counter to the bearish market sentiment. While many investors are selling out of fear, whales are taking advantage of low prices to position themselves in projects with emerging narratives: the rise of perpetual decentralized exchanges (Perp DEXs), the momentum of meme tokens with active communities, and the expectation of new listings on top-tier platforms. A classic bullish indicator.
From a market perspective, the reduction of token supply on exchanges is a key factor. A smaller amount of available assets for sale can create greater upward pressure if demand holds or increases. For investors, this whale behavior acts as a signal, highlighting projects that, although new, are capturing the interest of “smart money.” Speculation is a catalyst for interest in tokens like POPCAT and TROLL, which are already on Binance Alpha and are generating expectations of a full spot listing.
The trend observed in late September paints a picture where strategic investors are not driven by panic. Instead, they are focusing on the accumulation of altcoins with clear catalysts and strong community backing. The market will be closely watching to see if this accumulation phase translates into significant bullish momentum in the coming months. Attention is focused on future listings.
