- A whale acquired 2.48M VIRTUAL using $4.28M in ETH and AERO, averaging a price of $1.72.
- VIRTUAL may continue to outperform AERO, despite the whale backing both altcoins.
As most altcoins made potential shifts in market structure, Virtuals Protocol [VIRTUAL] and Aerodrome Finance [AERO] emerged as favorites for outperformance by a whale, but it was unclear which of the two would carry the day.
Whale acquisition and performance
Using $4.28M from ETH and WETH, a whale obtained 2.48M VIRTUAL tokens. Additionally, AERO tokens were acquired at an average price of $1.72.
Interestingly, VIRTUAL saw four distinct WETH transactions totaling 653 ETH (worth $1.2 million), indicating strong conviction.
The DEX aggregator showed evidence of VIRTUAL acquisition through multiple buying channels.
This forceful buy strategy showed confidence about the said altcoin’s future value potentials that could boost short-term price behavior.
Source: OnChain Lens
Additionally, ETH and AERO swaps were stagnant to weak price trends, which could only be balanced by separate market demand.
Meanwhile, their performances showed that VIRTUAL overwhelmed AERO in almost all evaluations.
At the time of writing, VIRTUAL traded at $1.746 while AERO held at $0.660. Their respective market caps stood at $1.13 billion and $533.7 million.
VIRTUAL crossed 7.68% up in one day and 37.87% up in seven days, although AERO recorded minor gains of 0.75% for daily movement and 1.64% on the weekly.
This showed that VIRTUAL retained greater upward movement despite having a smaller supply than AERO.
VIRTUAL vs. AERO price action
For the price action, VIRTUAL exceeded AERO by reaching $1.74 after breaking through its descending trendline as well as confirming bullish crossover of the MACD indicator.
The histogram displayed powerful upward force which operated alongside the MACD line at 0.2802 remaining higher than the signal line at 0.1727 thus suggesting potential price growth for VIRTUAL.
As price stabilizes above $1.50, it may rally with resistance challenges at $2.00 before reaching $4.00, which served as the former turning point.
The price could face profit-taking activities if it cannot hold above $1.50 enough to prevent a downward retreat towards $1.00.
Source: TradingView
On the other hand, AERO broke its trendline and retested, but stopped just below $0.70, where it was seeing a brief rejection.
The positive position between the MACD line at 0.061 and the signal line at 0.042 indicated further moves were probable if $0.70 acted as support.
AERO had the possibilities of reaching $1.01 or potentially $1.58 price levels, depending on increased trading volume.
However, AERO had a high risk of moving down to $0.50 or even lower in case the $0.70 level remained untapped.
The price recovery of VIRTUAL turned out more forceful compared to whales’ belief in both tokens.
AERO could face ongoing success only after reclaiming $0.70 and needed to perform this action for sustained positive momentum.
The momentum gap indicated VIRTUAL invited ongoing leadership positions, but AERO only had a chance to lead if its price succeeded in breaking out above the aforementioned levels.
