Altcoins Whale Conviction for October as Traders Buy the Dip

• Whale conviction in altcoins for October rises as traders buy the dip across ETH and ASTER.
• Institutions eye altcoins with strong fundamentals like Ethereum, ASTER, and SUI.
• Altcoin price surge seen even during September’s market correction signals conviction.

The crypto market is still in correction, with more than $3 billion in leveraged positions liquidated this week. That long squeeze left the Fear & Greed Index in “fear” territory. Yet whale wallets are buying the dip, showing conviction in select altcoins with strong fundamentals.

However, crypto traders are still expecting an altseason before the end of this year. Moreover, the anticipated monetary easing in the United States has top investors, led by Eric Trump, locked in a major bull market during the fourth quarter of 2025.

Related: Eric Trump Urges ‘Buy the Dip’ as BTC, ETH, and XRP Recheck Support. Is Now the Chance?

High Whale Conviction Altcoins to Stack for October 

Ethereum: Institutional Buys Define the Floor

After being trapped in a correction phase during the past two weeks, Ethereum (ETH) has attracted the attention of whale investors. For instance, on-chain data analysis shows 10 whale investors accumulated over 210 ETH during the past few days via Over the Counter (OTC) desks. 

BitMine increased its ETH treasury by $69 million, bringing holdings near $8.66 billion. Across the top 12 entities, whales now control about 3.8 million ETH worth $15.2 billion. 

According to market data analysis from CoinGecko, 12 entities currently hold a total of 3.8 million ETH, valued at around $15.2 billion.

Related: Ethereum Below $4,000 as BlackRock Trims Holdings and ETF Outflows Accelerate

ETH Technical outlook

From a technical analysis perspective, the Ethereum price has been approaching a major trendline support level established since early April 2025 during its recent pullback. According to the MVRV Extreme Deviation Pricing Bands by Glassnode, Ether price must reclaim the support level above $4,841 to invalidate a potential drop below $2k.

Nevertheless, crypto analyst Benjamin Cowen believes that the Ether price will retest the 21W EMA in the coming weeks and then rebound towards a new all-time high during the last two months of 2025.

ASTER: New Entrant With Heavy Whale Flows

Following the support of Aster DEX by Binance and its co-founder Changpeng Zhao (CZ), the demand for ASTER token has grown steadily. According to on-chain data analysis from Lookonchain, two whales recently purchased 118 million ASTER, valued at around $270 million.

Another 15 wallets, presumed to be the same whale, accumulated 68 million ASTER valued at over $156 million during the past few days. A wallet associated with Daniel Larimer, founder of Fractally DEX, purchased 50 million ASTER, valued at over $114 million, from Gate.io during the past few days.

ASTER Technical Outlook

The ASTER token has been one of the best-performing crypto assets in the past 10 days. The mid-cap altcoin, with a fully diluted valuation of about $16 billion, has almost recorded a 10x increase since its launch on September 17.

The rising demand from whale investors will play a crucial role in ASTER’s bull rally in the near future.

Other Picks: SUI, Plasma (XPL)

SUI and XPL also appeared on whale screens. During XPL’s public presale, one buyer put down $50 million and is already sitting on $40 million in paper gains.

Why It Matters

Even with macro headwinds, whales and institutions are showing conviction in altcoins with strong fundamentals. For traders, October may mark the month when institutional eyes on altcoin buys begin setting up the next leg of the cycle.