Top Altcoins Crypto Whales Are Accumulating Before Anticipated October Rate Cuts
Amid recent market volatility, select altcoins are gaining traction among large investors. Crypto whales are strategically positioning themselves by acquiring these altcoins before the anticipated October rate cuts.
As the Federal Reserve considers another rate cut, three specific altcoins are experiencing significant inflows, indicating whale interest and growing confidence.
Polygon (MATIC)
Polygon (MATIC) is attracting attention due to its consistent whale activity, despite recent market setbacks. The coin has dropped over 30% in the past month, but whales are capitalizing on the dip, potentially in anticipation of the October monetary policy shift.
On-chain data reveals that whales holding 100 million to 1 billion MATIC have increased their holdings from 2.5 billion to 2.8 billion MATIC since mid-October, adding approximately 300 million MATIC worth around $180 million at current prices.
Solana (SOL)
Solana (SOL) remains a favorite among whales, even as its price has declined by nearly 28% over the last 30 days. Large holders are leveraging this weakness to accumulate SOL, with whale cohorts purchasing aggressively from October 15 onwards.
Data indicates an increase from 25 million to 27 million SOL in whale holdings, reflecting a strong belief in SOL's potential recovery and long-term value, particularly with the expected rate cut.
Avalanche (AVAX)
Avalanche (AVAX) is also on the radar of large investors. Despite its price dipping by 26% over the past month, whale accumulation is on the rise. Key whale groups have been steadily increasing their holdings, signaling confidence in AVAX's future performance.
In the last week, whale holdings rose from 150 million to 160 million AVAX, showing a clear pattern of strategic buying amid market uncertainty.
With the FedWatch tool indicating a high probability of an October rate cut, whales are positioning themselves to benefit from potential easing measures, betting on a market rebound.