- Maker, Gala, and Polygon recorded the most significant whale transactions over the last week.
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Increased whale activity is an important indicator for predicting the flow of cryptocurrency capital.
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Maker surged by 4% in the past 24 hours despite widespread apprehension regarding Trump’s impending tariffs on ‘Liberation Day’ Wednesday.
In the previous week, Maker (MKR), GALA, and Polygon (POL) have experienced a notable increase in whale transactions exceeding $100,000, according to on-chain data.
Given the ongoing macroeconomic uncertainty surrounding U.S. President Trump’s ‘Liberation Day’ tariffs set for Wednesday, this uptick may indicate the movement of significant crypto capital.
Other notable projects with whale transactions above $100,000 include DeXe Protocol (DEXE), NEXO, OKX (OKB), Ethena Lab’s USDe, Paypal (PYUSD), Kucoin (KCS), and Fasttoken (FTN).
Maker appears optimistic while Bitcoin and altcoins stabilize
On Wednesday, Maker displayed bullish trends, rising 4% in the last 24 hours to $1,364. In contrast, Bitcoin and many altcoins, including Polygon and Gala, remain relatively stable following Monday’s brief rally.
While the leading cryptocurrency appeared promising at the week’s start, cautious traders have increased selling pressure, opting to reduce exposure to riskier assets in favor of what they perceive as stability in Gold, which reached a new all-time high of $3,149 per ounce on Tuesday.
With the potential impact of the upcoming tariffs, erratic price movements are expected throughout April. Trump’s ‘Liberation Day’ could throw global markets into turmoil, particularly if retaliatory measures are taken by other governments.
“This situation is likely to create a market environment characterized by significant fluctuations, where we anticipate Bitcoin to maintain its consolidation in the $88k to $75k range,” stated K33 Research in a recent market update.
Conversely, Maker could fluctuate between the support band around $1,250 (indicated in green in the chart below) and the resistance band around $1,450 (indicated in red) until the uncertainty surrounding tariffs is resolved, allowing for a clearer trajectory for the next major move.
The 50 Exponential Moving Average (EMA), 100 EMA, and 200 EMA on the 8-hour chart, currently ranging from $1,296 to $1,315, may provide support to buyers and potentially mitigate selling pressure.
MKR/USDT 8-hour chart
Polygon has declined by 5% in the last 24 hours, currently trading at $0.1952 as of Wednesday. POL has experienced a 20% decrease over the past week and a 32% drop in the last 30 days.
The blockchain gaming protocol GALA continues to reflect the downturn since the onset of Trump’s trade conflict on February 1. A 3.6% drop over the past 24 hours has contributed to an 18% weekly loss, while the monthly decline stands at 26%.
GALA/USDT price chart
According to a crypto analyst, Bitcoin has stabilized above $82,500 since Monday but is facing resistance around $85,000. Key indicators such as the Relative Strength Index (RSI) suggest a potential downward trend, as it slightly dipped below the midline at 50.
BTC/USDT price chart
Should Bitcoin struggle to surpass $85,000, there is a risk of further declines below $80,000, potentially bringing the perceived local bottom of $75,000 into view.