cryptowhales

The final weeks of the year are typically a period of reduced exposure in the cryptocurrency market. Large holders and so-called “smart money” often scale back positions in December to lock in profits, raise cash, and wait for the low-liquidity environment to pass. This seasonal pattern is well established and frequently results in muted price action across the market.
However, beneath the surface, on-chain data suggests a different narrative for select assets. While overall participation declines, crypto whales are actively increasing their holdings in several tokens — but across different time horizons. Some assets show steady accumulation over the past 30 days, others are seeing strong inflows over the last week, and one token has attracted fresh whale interest within just the past 24 hours. These divergent accumulation patterns may offer clues about where longer-term positioning is forming ahead of early 2026.
Chainlink (LINK): Quiet Accumulation Despite Price Weakness
Chainlink (LINK) stands out as the most consistently accumulated asset over the past month. Over the last 30 days, whale wallets have increased their LINK holdings by 57.79%, adding approximately 680,000 LINK. At current prices, this accumulation is valued at nearly $8.5 million.
What makes this accumulation notable is the broader market context. During the same period, LINK’s price declined by roughly 7.5%. Meanwhile, smart money wallets reduced their exposure by 5.2%. This divergence suggests that whales may be positioning for a larger, delayed move rather than expecting an immediate short-term rally.
From a technical perspective, the Bull Bear Power (BBP) indicator supports this interpretation. Since December 24, the red BBP histogram bars — representing selling pressure — have been steadily shrinking. BBP measures the distance between price and a moving average, helping identify which side currently controls momentum. A contraction in red bars typically signals that bearish pressure is weakening rather than accelerating.
LINK is currently attempting to reclaim the short-term resistance zone near $12.50. A daily close above this level would place the token back into a short-term breakout structure. Additional resistance levels to monitor include $12.98 and $13.75, while a move above $15.00 would confirm a clearer bullish trend.
Until $12.50 is decisively recovered, LINK may continue to trade sideways as accumulation unfolds gradually. On the downside, a drop below $11.72 would invalidate the current bullish accumulation thesis and suggest that whales may need to reassess their positioning.
Lido DAO (LDO): Whales Buy Strength as Staking Narrative Persists
Over the past 7 days, whale activity has shifted toward Lido DAO (LDO). During this period, whale balances increased by 30.34%, bringing total holdings to approximately 17.49 million LDO. This includes around 4.07 million LDO accumulated in just one week, valued at roughly $2.28 million at current prices.
Unlike LINK, LDO has risen about 4.2% over the same timeframe, indicating that whales are accumulating into strength rather than weakness. Several large purchases were publicly identifiable, most notably by Arthur Hayes, who acquired approximately 1.85 million LDO worth around $1.03 million. This explains the parallel increase in holdings attributed to “public figure” wallets.
In contrast, smart money wallets reduced their exposure by 7.75%. At the same time, exchange balances declined by 1.49%, suggesting that smaller participants are withdrawing tokens from exchanges rather than selling into the rally. This divergence implies that the whale thesis may require time to play out, potentially extending into early 2026 rather than delivering immediate upside.
Technically, LDO remains range-bound between $0.49 and $0.59. The On-Balance Volume (OBV) indicator — which tracks cumulative buying and selling pressure — broke its downtrend on December 23, aligning closely with the increase in whale accumulation.
A daily close above $0.59 would confirm renewed buying strength. This level was briefly lost on December 14 and has not yet been reclaimed. If momentum continues to build, the next key levels to watch are $0.76 (the 0.618 Fibonacci retracement) and $0.92, where market structure could transition from consolidation to a broader uptrend.
Until a breakout occurs, range trading remains the dominant scenario. A breakdown below $0.49 would invalidate the current structure, especially if smart money continues to reduce exposure during year-end volatility.
Aster (ASTER): Early Signs of Bottom Fishing
The third token drawing whale attention is Aster (ASTER), though its accumulation profile differs markedly from LINK and LDO. Instead of sustained buying over weeks, ASTER has seen a sharp increase in whale holdings over the past 24 hours. Whale balances rose by 2.37% in a single day, bringing total holdings to approximately 19.23 million ASTER, valued at just over $320,000.
While the absolute size of this accumulation is modest, its timing is notable. ASTER has declined more than 30% over the past month, suggesting that whales may be testing early-stage accumulation following heavy distribution.
Price action supports this cautious interpretation. ASTER fell sharply from around $1.40 on November 19 and found consistent support near $0.65 throughout December. Selling pressure has steadily weakened, as reflected in the Wyckoff Volume indicator. Since December 15, red and yellow volume bars — which indicate seller dominance — have gradually diminished in size, signaling a loss of control by sellers rather than aggressive buying by bulls.
If whale positioning proves correct, an initial recovery would likely target $0.83, representing approximately 16% upside from current levels. A successful move above $0.83 could open the door to $1.03 and potentially $1.24 under favorable market conditions.
However, this thesis remains fragile. A decisive breakdown below $0.65 would invalidate the accumulation narrative and expose ASTER to the risk of setting new lows amid ongoing year-end volatility.
Final Thoughts
Taken together, these accumulation patterns highlight how whale behavior can diverge significantly depending on time horizon and market structure. LINK reflects slow, methodical positioning during consolidation. LDO shows accumulation into strength tied to longer-term staking narratives. ASTER, by contrast, appears to represent speculative bottom fishing rather than confirmed trend reversal.
As liquidity returns in early 2026, these positions may provide insight into where larger players expect asymmetric opportunities to emerge — but patience and confirmation remain critical.
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