Crypto Whales Accumulate Ethereum, Mantra, and Onyxcoin Following Trump’s Tariff Pause

In the wake of President Donald Trump’s announcement of a 90-day tariff hiatus—excluding China—cryptocurrency whales have been making bold investment moves. Ethereum (ETH), Mantra (OM), and Onyxcoin (XCN) have seen a substantial uptick in accumulation, signaling a significant shift in investor sentiment across risk assets.

Ethereum (ETH) has seen considerable action, with whale holdings reaching their highest point since September 2023. On-chain data reveals that the number of addresses holding between 1,000 and 10,000 ETH increased from 5,376 to 5,417 between April 9 and 10. If this momentum can be sustained, Ethereum may test critical resistance levels at $1,749, potentially rallying toward $1,954 and $2,104. However, the looming macroeconomic uncertainty could lead to a sentiment reversal, bringing the Ethereum price back down to the $1,412 support zone. A further decline toward $1,200—or even $1,000—is possible if that level fails.

Meanwhile, the burgeoning narrative of real-world assets (RWAs) on the blockchain has seen Mantra (OM) holders quietly increasing their exposure. RWAs on the blockchain have reached a new all-time high, surpassing $20 billion in total value, further emphasizing their growing significance in the crypto sector. With this narrative gaining momentum, OM could see significant growth. Between April 6 and 10, the number of OM whale addresses holding between 10,000 and 100,000 tokens increased from 386 to 389.

Onyxcoin (XCN), on the other hand, experienced a sharp increase in whale activity and a 50% price surge within a 24-hour period, pushing it above the $0.02 mark. The number of addresses holding between 1 million and 10 million XCN grew from 503 to 532 between April 7 and 10. If this bullish momentum continues, XCN could rally toward resistance levels at $0.026, $0.033, and even $0.040. However, the rapid price increase could trigger a correction, potentially bringing XCN back down to retest the $0.020 support level.

These movements in the crypto market follow Trump’s decision to pause tariffs, excluding China. This decision has had a ripple effect across risk assets, boosting investor sentiment and leading to increased activity from cryptocurrency whales. However, the unpredictability of crypto markets and the looming macroeconomic uncertainty serve as a reminder that these bullish trends could quickly reverse. As such, investors should approach these developments with caution, carefully monitoring market trends and adjusting their strategies accordingly.