#夏日创作营 Imitation coins are a double-edged sword: whales are positioning, but ETH’s trend still needs attention

Today the overall market is up, but smaller coins are still in a “double-edged sword” situation. The targets that whales are buying:
Aave (AAVE): Medium and small whales holding between ten thousand and one hundred thousand coins have increased their holdings by 180k coins in the past 48 hours, corresponding to a market value of about $16 million; the total value locked by the protocol is close to $13.04 billion
Uniswap (UNI): After excluding exchange holdings, whales have cumulatively added about 380k coins; the June average daily on-chain trading volume is close to $2.2 billion
Ethena (ENA): In the past 24 hours, whales’ total holdings rose from 630k coins to 20.63 million coins, an increase of about 20 million coins, corresponding to a market value of about $1.5 million, with a holding increase of 3166%
ETH trend outlook: Ethereum’s recent performance has been weaker than Bitcoin’s, with multiple consecutive quarters still lagging. On-chain data shows the number of active addresses is down about 46% from the peak, but whale addresses are climbing—large holders seem to be quietly building positions.
Technically, ETH is testing a key support area; if it breaks, it may fall further. If it can reclaim the main moving averages, it may be able to turn the downturn around.
What does this mean? Even if the overall market bounces back, small coins remain in “casino mode.” If you buy right, it’s heaven; if you buy wrong, it’s hell.