Crypto Whales Accumulate Lido (LDO), Aave (AAVE), and Toncoin (TON) in Anticipation of Spot Ethereum ETF Launch

As June nears its end and market activity picks up in anticipation of a potential Spot Ethereum ETF launching in July, crypto whales have begun accumulating some assets. launching in July. Some of these assets include Lido (LDO), Aaave (AAVE) and Toncoin (TON).

Lido (LDO) whales are buying heavily.

LDO is Lido Finance’s governance token and is the largest liquidity staking protocol on Ethereum by Total Value Locked (TVL). At press time, the altcoin was valued at $2.41 and has been trending upward over the past week.

With the S-1 registration filing for the spot ETH ETF expected to be filed in the coming weeks, whales are accumulating LDO in a big way, expecting its price to surge once the ETF launches.

The number of LDO whales holding 1,000,000 to 100,000,000 tokens increased by 2% over the past week. As of press time, there are 114 LDO holders in this batch.

Read More: 11 Best DeFi Platforms to Profit from Staking ETH (stETH) with Lido

Notably, their numbers plummeted to their lowest level so far this year on June 15, at just 111 address. However, these whales have increased their LDO purchases over the past week with the potential launch of a spot ETH ETF in a few weeks.

Aave (AAVE) Surges in Block Volume

AAVE, the governance token of the popular decentralized crypto lending protocol Aave, has seen a surge in block volume.

Over the past month, AAVE’s daily count of trades worth between $10,000 and $100,000 has surged 128%. Likewise, the number of larger deals between $100,000 and $1 million surged 186% during the same period.

When an asset’s block trading volume rises, it indicates an increase in interest and activity in the asset from its large investors. Typically indicates that these investors are confident in the future performance of the asset.

Demand for AAVE has grown significantly over the past few days. At press time, it was trading at $93.01, above its 20-day exponential moving average.

This key moving average measures the average price of an asset over the past 20 trading days. When the price of an asset crosses higher, it is a bullish signal indicating increased buying activity.

Toncoin (TON) surges 15% in past month as whale participation surges

Toncoin (TON), the cryptocurrency associated with popular messaging app Telegram, has surged 19% in the past 30 days. The altcoin recently climbed to an all-time high of $8.24 on June 15. At press time, TON was trading at $7.59.

TON whales increased their accumulation efforts as holders anticipated further gains. On-chain data shows that the number of TON investors holding between 10,000,000 and 100,000,000 tokens has increased by 12% in the past 30 days.

Read more: What is Telegram Botcoin?

As of press time, this group of TON holders has a total of 7,319 addresses, the highest number since the token was launched.

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