After the Federal Reserve’s recent decision to cut interest rates by 25 basis points, a noticeable shift has occurred in the cryptocurrency market, particularly with altcoins drawing the attention of significant investors, commonly referred to as “whales.” Anticipation of further easing in monetary policy has created a favorable atmosphere, leading to increased accumulation among these conviction players in specific tokens.
### EigenCloud (EIGEN)
One standout token that has gained traction is EigenCloud (formerly known as EigenLayer). Following the Fed’s rate cuts, whale activity surged, with on-chain data revealing a 6.05% increase in whale holdings over the last 24 hours, totaling 4.85 million EIGEN. Mega-whales have also joined the fray, adding 0.1% to their balances, which now hover around 1.13 billion EIGEN.
At the current trading price of $2.04, whales purchased approximately 280,000 tokens, amounting to around $837,000. The larger mega-whales contributed an additional 1.13 million tokens, equating to approximately $2.04 million. This spike in whale acquisitions aligns with the broader trend of lower interest rates, which traditionally incentivize investors to seek alternative yield opportunities outside conventional savings.
From a technical standpoint, EIGEN has broken out of an ascending triangle, displaying a remarkable 33% increase within a single day. Should the price hold above the breakout point of $2.14, targets could extend towards $2.50 and even reach $3.20. Moreover, the rising Smart Money Index (SMI) indicates that short-term traders are also positioning themselves positively, further enhancing the overall bullish sentiment surrounding EIGEN, although caution remains; a decline beneath $1.73 could undermine this upward trajectory.
### Avantis (AVNT)
Another token attracting significant attention is Avantis, a recently launched asset on the Base network. Whales have increased their holdings by 11.5% over the past 24 hours, bringing their total to 1.08 million AVNT. This activity translates to the acquisition of approximately 111,390 tokens, valued at around $125,800. Additionally, the top 100 addresses collectively added 4.78 million tokens, showcasing a substantial accumulation of approximately $5.4 million in a single day.
On the technical charts, Avantis exhibits a bullish flag and pole pattern on the 12-hour timeframe. The immediate level to monitor is $1.58; a breakthrough here could validate the flag breakout and potentially lead to further gains, despite the more ambitious target of $6.30 being regarded as an upper extreme. The SMI has climbed to 1.62, indicating increased trading activity, with enhanced confirmation of breakout momentum anticipated if it surpasses 1.88. Nevertheless, a dip below $0.77 would challenge the bullish outlook.
### Kamino Finance (KMNO)
In the realm of decentralized finance, Kamino Finance has also seen heightened whale interest post-Fed rate cuts. Recognized for its borrowing and lending protocols and automated liquidity vaults, Kamino has garnered attention as investors seek yield in a declining interest rate environment. Whale activity surged by 35.9% within 24 hours, with holdings rising to 29.39 million KMNO, which reflects an addition of approximately 7.77 million tokens valued at about $629,000.
The Smart Money flows, indicative of shorter-term traders, illustrate a gain of over 1,200% during the same period, suggesting that both long-term holders and swift traders are flocking to KMNO. The Bull-Bear Power (BBP) indicator has also shown strengthening bull momentum, indicating that buyers maintain dominance despite some short-term price fluctuations. From a technical perspective, KMNO has emerged from an ascending channel, with potential targets extending to $0.13, but caution is warranted as any decline below $0.06 could indicate a deeper correction.
These developments highlight a significant trend where crypto whales are actively reshaping their portfolios in response to macroeconomic factors, closely tracking market dynamics and investor sentiment within the altcoin space.
