In recent developments within the cryptocurrency market, a notable shift has occurred following Donald Trump’s announcement of a 90-day pause on tariffs, excluding those on China. This decision has encouraged a more positive sentiment among investors towards riskier assets, prompting a surge in activity among crypto-whales, particularly in three key cryptocurrencies: Ethereum (ETH), Mantra (OM), and Onyxcoin (XCN).
Rising Interest in Mantra (OM)
The blockchain sector has recently witnessed a landmark achievement with real-world assets (RWAs) now valued at over $20 billion. This rapid growth highlights the increasing significance of RWAs as a booming narrative within cryptocurrency, reflecting a trend that is gaining momentum among investors. Research by Binance has shown that RWA tokens have demonstrated better resilience compared to Bitcoin amid recent tariff-induced volatility, fostering greater confidence in the sector.
The last few days have seen steady accumulation of Mantra (OM) among larger holders, indicated by an increase in addresses holding between 10,000 and 100,000 OM tokens from 386 to 389 between April 6 and April 10. If OM surpasses resistance levels at $6.51 and $6.85, it could see a climb beyond the $7 mark; however, a decrease in momentum could potentially push the token back down to around $6.11 with risks extending to $5.68.
Ethereum (ETH) Shows Recovery
Following Trump’s tariff pause announcement, Ethereum has experienced a rejuvenation, with increased whale activity pushing the number of addresses holding between 1,000 and 10,000 ETH from 5,376 to 5,417 in just two days. This surge in interest has brought the number of large holders to its highest level since September 2023.
If Ethereum maintains this newfound momentum, it could challenge significant resistance levels at $1,749, possibly rising further to $1,954 or even $2,104. However, caution is warranted as macroeconomic uncertainties linger; a shift in market sentiment could lead to a test of the support zone at $1,412, with chances of a deeper plunge to $1,200 or lower.
Onyxcoin (XCN) Experiences Significant Gains
Onyxcoin (XCN) has recently demonstrated remarkable performance, surging over 50% in just 24 hours, breaking past the $0.02 threshold, showcasing a renewed interest from larger investors. Between April 7 and April 10, the number of addresses holding between 1 million and 10 million XCN increased from 503 to 532, indicating escalating accumulation among whale investors.
If this bullish trend continues, XCN could push towards resistance levels at $0.026, $0.033, and potentially up to $0.040; however, the rapid increase in price may also trigger a corrective phase. In such a scenario, key support at $0.020 might need retesting, with further downward risk to around $0.014 if selling pressure rises.
Overall, the response of the cryptocurrency market to external economic factors illustrates the dynamic interplay between global events and digital asset trading. As crypto-whales continue to assert their influence, the evolving narratives surrounding these assets suggest an intriguing outlook for the upcoming months. This interplay is further complicated by growing regulatory scrutiny and the advent of new technologies that promise to reshape the landscape. As investors adapt to these changes, local bitcoin market analysis will become increasingly vital in understanding regional trends and investor sentiment. Consequently, staying informed about both macroeconomic indicators and localized developments will be crucial for navigating the future of cryptocurrency investments.
