The third week of September has experienced an increase in overall participation in the crypto market, with renewed buying enthusiasm elevating the global crypto market capitalization by 3% in the last week.
This recovery has caught the attention of large investors, as whale activity indicates a growing accumulation of specific altcoins.
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LINK, the native token of the prominent oracle network provider Chainlink, is among the tokens that crypto whales purchased this week.
On-chain data from Santiment reveals that during this period, whale addresses holding between 100,000 and 1 million LINK have acquired 2.5 million tokens, valued at over $61 million at current market rates.
At the time of writing, LINK is trading at $24.43. Should whale accumulation continue, it may drive the altcoin’s price to $26.89, a peak last reached on August 23.
Conversely, a decline in demand could see LINK’s price fall below $23.48.
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Cronos (CRO)
Cronos (CRO) has also garnered attention among whales this week, with large-holder activity increasing by 29% in the last seven days, as reported by Nansen data.
This rise in accumulation indicates renewed confidence among major investors in the token.
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If this trend of whale buying persists, it could generate the momentum necessary to elevate CRO towards the $0.27 mark.
On the flip side, dwindling demand could cause the token to slide back toward $0.19 in the near term.
Toncoin (TON)
TON’s recent price consolidation over the last few days has created an opportunity for accumulation by certain crypto whales.
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On-chain data from Santiment indicates that whale addresses holding between 1 million and 10 million TON tokens have increased their holdings by 5% during the observed week.
If this trend continues, TON could break out of its current sideways pattern and rally to $3.20.
However, if sell-offs recommence, its price could drop to $3.04.
