Cryptocurrency whales are showing bold movements ahead of May 2025, with three tokens gaining attention: Ethereum (ETH), Artificial Intelligence Alliance (FET), and Onyx Coin (XCN). All three have shown a notable increase in accumulation by large holders over the past week, indicating growing investor interest despite recent volatility.
While both ETH and XCN are experiencing sharp corrections, whale purchases suggest confidence in a potential rebound. Meanwhile, FET is riding a new momentum in the AI sector, with whale activity accelerating alongside price increases.
Ethereum (ETH)
The number of Ethereum cryptocurrency whales, or wallets holding 1,000-10,000 ETH, has been steadily increasing since April 15, when there were 5,432 addresses.
This number has now increased to 5,460, reaching its highest level since August 2023. Simultaneously, the concentration of ETH held by these whales is also reaching new highs, indicating increased accumulation by large holders.
This can be interpreted as confidence in Ethereum's long-term value, but also raises concerns about centralization and potential selling pressure if whales decide to realize profits.
Ethereum price has dropped over 19% in the past 30 days. If the correction continues, the price may retest the support level at $1,535. Losing this level could see ETH move to deeper support at $1,412 or even $1,385.
However, if the trend reverses, key resistance areas are at $1,669 and $1,749, which could push it to $1,954 if upward momentum builds.
In this context, the increasing whale dominance could act as a stabilizing factor or potential risk, depending on their response to market changes.
Artificial Intelligence Alliance (FET)
The number of FET whales, or wallets holding 10,000-1,000,000 tokens, increased from 572 on April 13 to 586 on April 19.
This steady increase in large holders suggests growing confidence among bigger investors. This is occurring at a time when the AI cryptocurrency narrative shows signs of rebounding.
Major AI coins like FET, TAO, and RENDER have all increased over 9% in the past 7 days, with FET itself rising over 8% in the past 24 hours and 13.5% weekly, suggesting a potential return of the artificial intelligence narrative in cryptocurrencies.
If this momentum continues, FET could push to the resistance level of $0.659. Cleanly breaking that level could open doors to further increases, with next targets at $0.77 and $0.82.
Conversely, if the rally stops, FET could drop again to test the support level at $0.54. Falling below that could see it drop to $0.44.
With increasing whale activity and the AI sector showing new strength, FET's next move could be a crucial signal of where the narrative is heading.
Onyx Coin (XCN)
Onyx Coin showed notable performance in January, but momentum has weakened in recent months. After rising over 57% in the past 30 days, the token is currently correcting and has dropped 19% in the past week.
Despite this retreat, accumulation continues. The number of cryptocurrency whales holding 1-10 million XCN increased from 528 on April 16 to 541, suggesting some large holders are buying during the downturn.
If the correction intensifies, XCN could lose support at $0.0165. Falling below that could open possibilities for further drops to $0.0139 and $0.0123.
However, if the trend reverses to the upside, the token could first test resistance at $0.020. A strong breakout there could lead to movement to $0.027. With increasing whale activity and volatility returning, XCN's next move could be decisive.
