Maker, Gala and Polygon lead $100k whale transactions, can altcoins defy looming macro uncertainty?

• Maker, Gala and Polygon posted the largest whale transactions in the past week.

• Rising whale activity is a critical tool in determining the direction of crypto capital.

• Maker jumps 4% in the last 24 hours despite widespread caution due to impending Trump’s tariffs ‘Liberation Day’ on Wednesday.

Maker (MKR), GALA, and Polygon (POL) are among the crypto projects that have seen a spike in whale transactions of at least $100,000 in the past week, as revealed by Santiment on-chain data. 

Considering the lingering macro uncertainty due to United States (US) President Donald Trump’s ‘Liberation Day’ tariffs expected on Wednesday, this surge could underscore the direction of major crypto capital.

Santiment highlights DeXe Protocol (DEXE), NEXO, OKX (OKB), Ethena Lab’s USDe, Paypal (PYUSD), Kucoin (KCS) and Fasttoken (FTN) as other leading projects with over $100,000 in whale transactions.

Maker leans bullish as Bitcoin and altcoins consolidate

Maker shows bullish signs on Wednesday, increasing 4% in the last 24 hours to $1,364. However, Bitcoin and most altcoins, including Polygon and Gala, remain relatively stable after Monday’s short-lived momentum.

The leading cryptocurrency looked encouraging at the week’s open. Still, cautious traders added to sell-side pressure, reducing exposure to risk assets in favour of perceived stability in Gold, which hit a new all-time high at $3,149 per ounce on Tuesday.

With the tariff ping-pong inbound, choppy price action is anticipated in April. Trump’s ‘Liberation Day’ may leave global markets in disarray, especially if governments decide to retaliate. 

“This is poised to generate a vividly fluctuating market sentiment, in which we expect Bitcoin to extend its consolidation and hover in the $88k to $75k range,” K33 Research said in a market update.

On the other hand, Maker could trade between the support band around $1,250 (green in the chart below) and the resistance band around $1,450 (red) until the tariff uncertainty clears to pave the way for the next major move.

The 50 Exponential Moving Average (EMA), the 100 EMA and the 200 EMA in the 8-hour chart, currently between $1,296 and $1,315, may offer relief to buyers, potentially limiting sell-side pressure.

MKR/USDT 8-hour chart

Polygon is down 5% in the last 24 hours and trades at $0.1952 at the time of writing on Wednesday. POL sustained a 20% drawdown in the past week and a 32% decline in the last 30 days. 

The blockchain gaming protocol GALA continues to mirror the sell-off since Trump’s trade war began on February 1. A 3.6% decline in the last 24 hours extended the weekly loss to 18%, while the monthly pullback reached 26%.

GALA/USDT price chart

According to FXStreet crypto analyst Manish Chhetri, Bitcoin has stabilised above $82,500 since Monday but faces daily resistance at $85,000. Key indicators like the Relative Strength Index (RSI) favour downward momentum, dropping slightly under the midline at 50. 

BTC/USDT price chart

If Bitcoin fails to find a breakthrough past $85,000, declines could extend below $80,000, bringing the perceived local bottom at $75,000 within reach.