What Are Crypto Whales Buying Ahead of July FOMC Rate Announcement?

The Federal Reserve will meet on 29-30/07/2024, and there is a high probability that no interest rate cut will occur.

Inflation remains high and employment remains strong, so the Fed is likely to maintain the current interest rate. But September 2024? That could be a different story.

Crypto whales have started moving, betting that a future interest rate cut is coming, and they are not just buying Bitcoin or Ethereum. They are pouring money into real-world asset (RWAs) tokens and DeFi infrastructure projects. Here's what they are buying and why.

Ondo (ONDO)

ONDO represents encoded real yield, backed by US Government Bonds, and it has become an attraction point for crypto whales preparing for a potential monetary policy change.

In the past 24 hours, ONDO has seen a +20.45% increase in crypto whale holdings, while exchange balance only decreased by -0.03%. This is a subtle but notable sign: crypto whales are buying while small retail investors seem to be selling during the 4% decline in the past 7 days.

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So why are whales buying when prices are weak? Because ONDO becomes a natural choice when interest rates pause. When rates finally drop, possibly in September 2024, TradFi yield assets will become less attractive, and encoded alternatives like ONDO will have an advantage.

The distribution point is at 4, meaning top wallets hold most of the supply, and currently, few retail investors are accumulating. Although the price hasn't surged strongly, this slow and quiet positioning tells a story of confidence.

Curve DAO (CRV)

Curve's CRV token has seen a +3.09% increase in crypto whale holdings in the past 7 days, even as the price increased by +11.2% in the same period.

Unlike ONDO, CRV is not out of sight; it is moving. And crypto whales are still staying. Exchange balance decreased by -0.5%, and the distribution point shows a healthy allocation, indicating continuous demand from long-term holders, not just speculative traders.

Curve supports stablecoin swap transactions and is typically considered the core of DeFi. This is important in an environment where interest rates are paused, not cut.

Whales likely view CRV as a positioning option when DeFi revives, especially if September 2024 brings real monetary easing. Until then, it's a hedge: relatively stable, connected to yield, and currently supported by whales.

Blockstreet (BLOCK)

BLOCK has seen a +13.44% increase in whale holdings in just 24 hours, and the token price has risen over 63% in the past 7 days.

Public figures and top wallet holders are adding positions, while smart money seems to have taken early profits. However, the strong increase in distribution point and top 100 wallet activity suggests big money is entering late but powerfully.

Blockstreet is building a regulated DeFi platform, linked to USD1, a stablecoin focused on regulated yield.

In the macro "pause but not pivot" context, whales are seeking options that consider both regulation and practical utility. The slight -0.73% decrease in exchange balance suggests no complete retail investor exodus; instead, this could be an accumulation phase with growth potential if retail investor sentiment changes.

Honorable Mention: Keeta (KTA)

KTA, a regulated Layer-1 on Base focused on RWA encoding, has also attracted whale attention.

In the past week, crypto whale holdings increased by +5.31%, while exchange balance decreased by -3.8%, suggesting quiet accumulation as traders withdraw tokens from exchanges. Although public figure holdings decreased, top wallet and smart money indicators increased, reflecting selective confidence.

The price has increased by +44.6% in the past 7 days, indicating some smart capital has positioned ahead of September. With a balanced distribution point of 23, ownership allocation is healthier, which often supports price stability during volatile periods.