Whales Go All-In on Ethereum (ETH) — Solana (SOL), Bonk (BONK), and Skycoin (SKY) Next in Line for Explosive Gains: Bybit Report
Crypto's smart money isn't just dipping toes—it's diving headfirst into ETH while eyeing SOL, BONK, and SKY as the next moonshots. Here's why the big players are shifting chips.
Ethereum's institutional embrace
Bybit's latest data shows whales accumulating ETH like it's going out of style—which, given Wall Street's sudden love affair with 'digital gold 2.0,' it definitely isn't. The move comes as Ethereum's ecosystem shrugs off its 'slow and expensive' reputation with layer-2 solutions finally delivering.
Altcoin roulette heats up
While ETH takes center stage, Solana's SOL keeps attracting degenerate bets with its 'web3's AWS' pitch. Meanwhile, memecoin BONK and dark horse SKY are drawing sidelined capital—because nothing says 'calculated risk' like betting on dog-themed tokens and obscure infrastructure plays.
The cynical take
Of course, this could all just be hedge funds front-running their own hype cycles before dumping on retail—but hey, those APY numbers do look pretty in a bull market.
Smart money’s portfolio playbook
The Bybit report reveals a nuanced allocation strategy among institutional players, where conviction holdings coexist with tactical rotations. Ethereum remains the cornerstone, with derivatives, particularly Liquid Collective’s staked ETH, dominating smart money portfolios.
This preference underscores ETH’s dual role as both a yield-generating asset (via staking) and a liquid DeFi primitive. Meanwhile, Bitcoin derivatives persist near the $120,000 threshold, reflecting a “digital gold” mentality where investors hold despite sideways price action.
Amid the reshuffle, ONDO Finance has emerged as a dark horse, capitalizing on the real-world asset tokenization wave. Its infrastructure, which tokenizes U.S. Treasuries and other yield-bearing assets, bridges TradFi and DeFi, a narrative resonating with funds seeking tangible utility. The report notes ONDO’s inclusion in top smart money holdings, suggesting institutional players view RWAs as more than a passing trend but a foundational shift in crypto’s value proposition.
At the same time, Uniswap has gained 50% in a month with little fanfare, a telltale sign of smart money accumulation, per the report. The lack of major announcements hints at potential unspoken catalysts, such as governance upgrades or fee-sharing mechanisms. The same applies to Worldcoin, which Bybit noted is benefiting from regulatory clarity around decentralized identity in the U.S., positioning it as a compliance-friendly play for institutions hedging bets on web3’s identity layer.
Trading flows
According to the Bybit report, Solana’s derivatives activity has surged, with traders pivoting from ETH to SOL ahead of potential ETF approvals. This mirrors Ethereum’s pre-ETF accumulation pattern in early 2023, suggesting a calculated bet on regulatory momentum.
Meanwhile, meme coins are undergoing a generational shift: capital is migrating from legacy tokens like Doge to newer entrants (for example Bonk and Pengu), indicating smart money’s appetite for fresher, more volatile narratives.
Avalanche ells a cautionary tale, with outflows signaling profit-taking after months of muted performance. In contrast, Sky is attracting inflows, likely due to its expanded exchange listings and Spark Protocol’s growing adoption.
