Crypto Whales are Buying LTC, SPX, ONDO For October Gains

The first half of September saw an uptick in trading activity. Many assets capitalized on the improved sentiment, climbing to local peaks as buy-side pressure strengthened across the market. 

However, momentum began to shift gradually on September 14. As demand for Bitcoin weakened, bearish pressure spilled into the broader market and dampened overall sentiment. Despite the slowdown, large investors have used the opportunity to increase their holdings of certain assets, positioning themselves for potential gains in October.

Litecoin (LTC)

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At the time of writing, Layer-1 (L1) coin LTC trades at $65, down 5% in the last 30 days. This has provided an accumulation window, as whales appear to be betting on a recovery in the coming weeks.

According to Sanmtiment, whales holding between 10,000 and 100,000 tokens have accumulated 300,000 LTC valued at approximately $31.6 million over the past month. 

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LTC Supply Distribution. Source: Santiment

If this accumulation persists into the new months, it could push the coin’s price past the resistance at $109.91 and toward $119.47.

LTC Price Analysis. Source: TradingView

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On the other hand, if the bears strengthen their grip, they could force a dip toward $98.43.

SPX6900 (SPX)

Decentralized meme coin SPX is another altcoin that crypto whales are accumulating for potential gains in the coming month. The altcoin’s value is down nearly 15% in the past month, opening the door for strategic accumulation by some of its largest holders. 

Per Santiment, addresses holding between 10 million and 100 million SPX tokens have snapped up 23.04 million coins in the past 10 days alone, indicating the growing conviction among this cohort of investors. 

SPX Supply Distribution. Source: Santiment

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If this buying trend continues, it could trigger a breach of the resistance at $1.0286 and push SPX’s price toward $1.2681. 

SPX Price Analysis. Source: TradingView

However, once selloffs resume, its price could fall to $0.8189, a low last reached in May.

Ondo (ONDO)

According to data from Nansen, spot whales holding ONDO tokens worth more than $1 million have increased their holdings by 10% over the past month. 

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ONDO Holder Activity. Source: Nansen

During the same period, the 100 largest crypto whales also boosted their ONDO positions by 1%, adding to optimism for a favorable October for the altcoin.

These increases in activity by large token holders point to growing institutional confidence and suggest that whales are positioning early for potential upside.

If the accumulation trend continues, ONDO’s price could climb above $0.8955.

ONDO Price Analysis. Source: TradingView

However, if demand falters, the token risks sliding back toward $0.8308.

Source: https://beincrypto.com/crypto-whales-october-gains-ltc-spx/