Crypto whales have begun to quietly shift their altcoin positions following Trump’s Liberation Day tariffs. Uniswap (UNI), Chainlink (LINK), and Ondo Finance (ONDO) have all seen declines in the number of wallets holding between 10,000 and 100,000 tokens.

While the sell-off hasn’t been dramatic, the timing and consistency across multiple tokens suggest growing caution or short-term repositioning. As these altcoins face key support and resistance levels, whale behavior could continue to shape their price trajectories in the coming days.

Uniswap (UNI)

The number of Uniswap (UNI) addresses holding between 10,000 and 100,000 tokens has been steadily declining, a trend that began before Trump’s so-called Liberation Day and has continued in its aftermath.

Between April 2 and April 3 alone, this group of crypto whales dropped from 825 to 821, signaling a slight but notable reduction in confidence or positioning from a segment often seen as strategically reactive.

While this decline may seem modest, it reflects a broader sentiment of caution among larger UNI holders, which often precedes or reinforces price weaknesses.

Currently, UNI price remains in a clear downtrend, with growing risks of a drop toward the $5.50 level or even below it if bearish momentum continues. However, if the trend begins to reverse, the token could first test resistance at $5.97.

A successful breakout from there could push Uniswap higher toward $6.23, a level that would suggest a stronger recovery is underway.

For now, though, the decrease in whale-sized wallets and prevailing bearish momentum place the asset in a vulnerable technical position.

Chainlink (LINK)

While the number of Chainlink (LINK) whale addresses—those holding between 10,000 and 100,000 LINK—only slightly declined after Trump’s Liberation Day, falling from 2,859 to 2,855, the context leading up to that matters more.

From March 29 to April 1, this group was actively accumulating, with the number of crypto whales rising from 2,852 to 2,860. This short burst of accumulation suggested growing confidence in LINK’s upside potential heading into the month.

The recent dip may simply reflect mild profit-taking or caution during the current correction rather than a broader shift in sentiment.

Technically, LINK is at a critical point. If the ongoing correction deepens, the token could fall below $12 for the first time since November 2024, with $11.85 as the key support to watch.

However, if the trend shifts and buyers regain control, LINK could first test resistance at $13. A break above that level would likely open the door for a move toward $13.45.

Ondo Finance (ONDO)

ONDO is showing a trend similar to Chainlink, with whale accumulation taking place between March 26 and March 29 as the number of addresses holding between 10,000 and 100,000 ONDO grew from 376 to 390.

This wave of accumulation pointed to growing interest and confidence from larger holders. However, after peaking, the number of whales started to drop, falling from 374 to 371 following Trump’s Liberation Day.

This decline, while subtle, may indicate a pause in optimism or a cautious shift in positioning among key players.

From a price perspective, ONDO now sits at an important moment. If it can regain the bullish momentum seen last month, it could push through the resistance at $0.82, with the potential to climb further toward $0.90 or even $0.95 if strength persists.

However, if momentum continues to fade, downside risks increase, with support levels around $0.76 and $0.73 likely to be tested.

According to the latest Binance research, the NFT market saw a sharp drop in March 2025. Total sales volume across the top 10 blockchains fell by 12.4%, signaling weaker buyer interest. Only two chains—Immutable and Panini—bucked the trend. 

The number of unique NFT buyers dropped to its lowest level since October 2023, pointing to a slowdown caused by global economic pressures.

Are NFTs Dying Out in 2025?

Ethereum-based NFTs suffered the most. Sales on the network dropped 59.3%, with only CryptoPunks recording any growth among the top 20 collections. Bored Ape Yacht Club and Pudgy Penguins both posted losses of more than 50%.

Panini saw a strong surge in activity. Its digital collectibles jumped 259.2% in sales, placing it among the top 10 NFT blockchains. 

With a long legacy in physical collectibles, Panini’s digital offering uses blockchain to validate asset ownership.

Despite the broader slowdown, brands and creators continue to explore new NFT concepts. Azuki collaborated with artist Michael Lau to launch a physical-backed NFT. 

The Sandbox teamed up with Jurassic World to bring licensed dinosaurs into its metaverse experience.

Still, market contraction has led to several closures. Bybit announced it is shutting down its NFT Marketplace, Inscription Marketplace, and IDO platform. 

X2Y2 is also winding down after handling $5.6 billion in trading volume. Activity has dropped by 90% since NFTs peaked in 2021, pushing many platforms out of the market.

“Marketplaces live or die by network effects. We fought tooth and nail to be #1, but after three years, it’s clear it’s time to move on. The NFT chapter taught us a lot—most of all, that lasting value beats chasing trends. That lesson’s why we’re drawing a line here, not a pause or a maybe, but a full stop on X2Y2 as we knew it,” X2Y2 wrote in its announcement.

Also, Kraken ended its NFT operations in February, shifting focus to other business areas.

Meanwhile, NFT-related tokens continue to fall. Magic Eden has lost 94% of its value since its launch four months ago. Pudgy Penguins (PENGU) has declined nearly 30% over the past month, despite its Coinbase listing. 

Ethereum’s revenue has also taken a hit. Transaction fee income has dropped by 95% since late 2021, driven by falling NFT activity and fewer contributions from Layer 2 networks. 

This has been reflected in Ethereum’s price, as the altcoin declined by 58.8% from its all-time high. Q1 2025 marked its worst quarter since 2018.

Solana has faced significant price corrections recently, erasing gains made in mid-March. The altcoin is currently trading at $116, reflecting a 19% loss over the past ten days. 

As the price continues to struggle, many investors are losing patience, pushing them to sell their holdings and exit the market.

Solana Losses Mount

The Realized Profit/Loss (RPL) indicator shows that Solana has been underperforming for most of February and March. While there were brief moments of profit for short-term holders (STHs), the overall trend has been bearish.

These losses have contributed to mounting frustration among investors, leading many to consider selling their positions. The selling pressure is keeping the market from recovering as more and more investors choose to cut their losses.

As a result, investor sentiment has weakened, with many unwilling to hold onto their positions in the face of continued price declines. The Realized Profit/Loss data indicates that, in addition to the selling pressure from STHs, the broader market is also showing signs of caution. 

The Chaikin Money Flow (CMF) indicator also shows a concerning trend for Solana. Currently, at a monthly low, the CMF reflects that outflows are exceeding inflows, indicating that investors are pulling their money out of Solana. This lack of buying pressure is detrimental to the altcoin’s recovery prospects, as the outflows signal reduced confidence in the asset.

With the CMF in negative territory, Solana’s ability to rally appears limited, as the overall market sentiment remains subdued. The lack of investor conviction is further exacerbating the downward momentum.

SOL Price Could Witness Further Decline

At the time of writing, Solana’s price is at $116, and it is struggling to recover from the recent losses. Despite the slight uptick observed in the past 24 hours, the altcoin’s recovery remains uncertain. With investor confidence at a low, the price may continue to struggle in the short term.

The aforementioned factors suggest that Solana could dip further to $109, extending investors’ losses. If the bearish trend continues, SOL could test this support level before any potential signs of recovery emerge. This price action would keep investors on edge and delay any sustained rally.

However, if Solana can reclaim $118 as a support floor, it could spark a reversal. A breach of this level would push the altcoin toward $123, and flipping it into support would significantly bolster the bullish thesis. In this scenario, Solana could break through resistance levels and rise toward $135.