Following the US Federal Reserve’s recent rate cut, large investors have reacted cautiously. However, on-chain data shows crypto whales accumulating tokens from specific projects. Analysis from Santiment and Nansen reveals significant movements in Cardano (ADA), Ethena (ENA), and Aster (ASTER) in the last 24 hours.
Reports indicate that a group of Cardano whales (holding 1M to 10M ADA) added 20 million ADA tokens, valued at $12.8 million. This move occurs as ADA defends the key $0.64 support level. On the other hand, Ethena whales (100M to 1B ENA cohorts) acquired 110 million ENA, equivalent to $46.2 million. Finally, Nansen data shows a notable 26.43% increase in holdings for Aster (ASTER) whales. They purchased 3.27 million tokens, valued at $3.33 million.
The Fed’s decision to cut rates by 25 basis points did not boost the broader market. Bitcoin and Ethereum remained in the red, suggesting the move was already priced in. Therefore, attention has shifted to where the “smart money” is rotating. These whale purchases are relevant because they often precede bullish cycles, signaling conviction in specific assets despite market indecision.
Are these technical signals anticipating a market rebound?
Technical analysis supports the whales’ optimism. Cardano is trading in a symmetrical triangle, and sellers appear to be losing control near the $0.64 support. Ethena, meanwhile, bounced from the crucial $0.41 support and remains within a falling wedge, a typically bullish pattern. Aster also shows a bullish divergence on its 12-hour chart, where the price made lower lows but the RSI made higher lows.
While the broader market remains undecided, the activity of crypto whales accumulating tokens offers a clear narrative. Investors are now watching if ADA can break above $0.66 and if ENA and ASTER can confirm their bullish patterns. The global economy remains a factor, but these movements suggest large players are betting on specific technical rebounds. Losing key supports ($0.64 for ADA, $0.41 for ENA, $0.93 for ASTER) would invalidate these short-term bullish theses.
