Large Holders Increase Exposure Following Powell's Rate Hints
Crypto whales have shifted attention to Cardano (ADA), Chainlink (LINK), and Morpho (MORPHO) following Federal Reserve Chair Jerome Powell's Jackson Hole speech. The statement, which hinted at possible interest rate cuts in September, has influenced investor sentiment and led to notable accumulation in these assets. This whale activity provides insight into potential market leaders in the coming weeks.
Cardano Sees Notable Whale Accumulation
On-chain data reveals renewed interest in Cardano from large holders. Wallets containing between 10 million and 100 million ADA increased their balances by 110 million ADA over a 24-hour period, adding approximately $102 million at a price of $0.93 per token. Earlier in August, even larger wallets holding over 1 billion ADA raised their holdings by 60 million ADA, valued at nearly $55.8 million. These moves indicate strong conviction that ADA might benefit if the Fed follows through on easing monetary policy.
ADA traded near $0.93, up over 8% in 24 hours but down 2% weekly. Key resistance lies at $0.94 and $0.97, with a potential breakout opening a path to the $1 level. A fall below $0.82 could weaken the bullish outlook.
Chainlink Strength Supported by Whale and Retail Investment
Chainlink has also attracted large investors. Whales increased their LINK holdings by 64,674 tokens, worth about $1.69 million, raising their total to 5.64 million LINK in 24 hours. In parallel, exchange balances dropped by 1.59 million LINK (about $41.6 million), indicating retail accumulation and reduced selling pressure. LINK has gained nearly 70% over the past three months and remains in an uptrend, currently contending with resistance at $26.76. A break above this level could see LINK approach $30, with whales targeting higher technical extensions. The continuous positive readings of the bull-bear power indicator suggest ongoing momentum.
Morpho Gains on Whale Buying and DeFi Optimism
Morpho, a protocol for decentralized lending and borrowing, has seen whale holdings grow by 1.32% to reach 3.74 million MORPHO, now valued near $9.9 million. Exchange reserves also declined by 1.35%, reflecting further retail interest. MORPHO outperformed with a 9.4% daily gain and almost 77% growth over three months. The token broke resistance at $2.63 and is now targeting higher levels, with $3.09 and $3.80 as next possible targets. A drop below $2.18 would invalidate the current bullish trend.
Outlook Hinges on Fed Policy and Market Momentum
Across these assets, recent whale activity reflects expectations of renewed market optimism if the Federal Reserve confirms rate cuts in September. The impact has driven fresh price rallies and positioned ADA, LINK, and MORPHO as key tokens to watch. However, market conditions remain subject to change, and investors are advised to conduct thorough research before making decisions.
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