In the first week of June, the cryptocurrency market witnessed significant participation from whales and institutional investors in three altcoins: ETH, FARTCOIN, and HYPE.
These large-scale trading activities reflect confidence in the growth potential of these coins and could significantly impact market trends.
Ethereum (ETH)
According to data from Lookonchain, an organization or whale purchased a large amount of 108,278 Ethereum (ETH), equivalent to $283 million, through an OTC (over-the-counter) channel. The Galaxy Digital OTC wallet executed this transaction. They withdrew 89,000 ETH (valued at $233.5 million) from exchanges in the 12 hours before transferring 108,278 ETH to the wallet with address 0x0b26.
Ethereum whale bought $283 million through OTC. Source: TedPillowsCurrently, this wallet holds assets worth approximately $365 million. Traders often use such OTC transactions to avoid causing significant market volatility.
This suggests the organization is strategically accumulating ETH, possibly preparing for a future price surge. The coin has also seen the strongest crypto inflows in six weeks since 2024, with $286 million added the previous week amid increasing institutional demand.
ETH is approaching the apex of the triangle. Source: CryptoFaibikAt the time of writing, ETH is trading at $2,637, up 1% in the past 24 hours. According to trader CryptoFaibik, ETH is moving within a multi-year symmetrical triangle pattern that has developed since early 2021.
"Closing the monthly above $3,500 will confirm a breakout from the multi-year triangle," CryptoFaibik shared.
Fartcoin (FARTCOIN)
FARTCOIN, a meme coin on the Solana (SOL) platform, is also attracting significant attention from large investors. According to data from Lookonchain, three whales bought 9.2 million FARTCOIN within four hours, with a total value of $9.5 million.
These transactions indicate that a group of whales is very optimistic about FARTCOIN's short-term growth potential.
FARTCOIN could hit $1.88. Source: KrieszAt the time of writing, FARTCOIN is trading at $1.08, down 4.7% in the past 24 hours. However, some traders remain quite optimistic about the long-term price of this meme coin.
Hyperliquid (HYPE)
HYPE, another emerging altcoin, has also not escaped whale attention. According to data from OnchainLens, a whale spent $6 million over three days to buy over 170,000 HYPE. This strong accumulation occurred despite HYPE not being listed on major exchanges.
As reported by BeInCrypto, the recent increase in HYPE's value could be due to the hype surrounding trader James Wynn on Hyperliquid. Combined with large investor participation, this suggests strong confidence in HYPE's long-term potential. It could signal an imminent price explosion, especially after being listed on Binance US.
Chart of HYPE. Source: AltcoinSherpaAt the time of writing, HYPE is trading at $36.59, down 1.7% in the past 24 hours.
The participation of whales and institutional investors in ETH, FARTCOIN, and HYPE in the first week of June 2025 is a positive signal. This reflects strong confidence in the cryptocurrency market. These large transactions indicate a long-term investment strategy and could be the catalyst for upcoming price surges.
