This week, the digital asset market exhibited a calm performance as many tokens gave back much of their July gains. The global crypto market capitalization decreased by approximately 4% over the past week. This development suggests a weakening bullish momentum among market participants, leading to a more cautious approach.
Overall Market Developments
Despite this decline, examining on-chain data reveals that high-volume investors are focusing on select altcoins. Particularly, large investments in cryptocurrencies such as Arbitrum (ARB), Chainlink 
$9 (LINK), and Cardano (ADA) have attracted attention.
In a week where the market remained relatively stable, many investors have shifted their attention to significant wallet movements. According to analyses, the behavior of large investors often predicts general market trends. One highlighted asset this week was Arbitrum (ARB), known for providing Layer-2 solutions.
According to Santiment data, investors holding between 1 to 10 million ARB made collective purchases totaling 10 million ARB last week. Santiment noted, “Active purchases by large investors could encourage smaller investors to participate in the market.” If this demand continues, ARB could break away from its sideways trend.
Notable Movements in Altcoins
Another altcoin garnering interest from large investors is Chainlink (LINK). According to Nansen data, wallets valued over $1 million saw a 25% increase in their LINK holdings. Commenting on this development, it was stated, “The intense interest from large investors indicates a growing confidence in the token’s short-term prospects.”
If positive trends continue for LINK, its value could rise to around $26.89. However, if demand weakens and large investors begin selling, the price could decline to $23.48.
Another significant movement occurred with Cardano (ADA) 
$0.246772. On-chain analysis data shows investors holding between 1 to 10 million ADA executed a purchase of 60 million new ADA last week. Nonetheless, the overall stagnant market led ADA’s price to move within a narrow range.
Price Expectations and Scenarios
Analysts suggest that if large investors continue purchasing ADA, the price could test the $0.89 resistance. However, if the buying momentum slows, ADA’s price may fall to $0.84.
Santiment stated, “The steady appetite of large investors for purchases could initiate upward movements in ADA’s price.”
Overall, despite the general market downturn, the accumulation by large investors in select altcoins hints at potential upward price movement. Analysts predict that both on-chain data and the positions of major investors will influence market trends in the coming period.
