Whales holding between 10,000 and 100,000 ICP tokens have returned to accumulating, pushing supply back up to 81.7 million ICP. This increase comes after a noticeable drop in distribution during June.
The recent shift suggests that larger holders are regaining confidence or adjusting their positions following earlier market movements. While fluctuations in whale activity are common, this uptick indicates renewed interest among some of the network’s more substantial investors.
It remains to be seen how sustained this pattern will be, especially as broader market conditions continue to evolve. Analysts often watch whale behaviour closely, as it can influence price dynamics and market sentiment. However, accumulation alone does not guarantee immediate price changes, and other factors, including wider economic trends and project developments, will play a role.
Overall, the rebound in whale supply points to a potential stabilisation or re-entry phase for ICP holders managing larger stakes. Observers will be monitoring whether this trend continues or shifts again in the coming weeks.
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