$TAO 1. The Role of Whales in This Rally (Decisive)

1. Precise Bottom Fishing, Supporting Strong Resistance at 150-180

◦ In early February, when TAO dropped to the 150-180 range, whales concentrated on buying, absorbing all selling pressure, and directly supporting the price

2. Shrinking Circulating Supply, Creating a Short Squeeze

◦ Whales transfer a large amount of tokens from exchanges to cold wallets/staking, causing the circulating supply to decrease sharply

◦ When buy orders appear, there’s no supply left, and the price is quickly pushed up (150→202 in just 3 days, +35%)

3. Igniting Sentiment, Driving Retail + Institutional Funds

◦ Whales make large purchases and hold positions steady, signaling a strong “bottom reversal” to the market

◦ Retail traders, quant funds, Grayscale/ETP funds follow suit, creating capital resonance and accelerating the rally

2. Latest Whale Movements (As of 2026-02-14 17:00)

1) Holdings and Flows (Most Critical)

• Whale addresses (≥10,000 TAO): total holdings continue to rise, net increase of about 23,000 tokens in the past 3 days, with costs concentrated between 160-190

• Outflow from exchanges: over 18,000 TAO transferred out of exchanges in the past 24 hours to non-exchange wallets (locked)

• No large sell-offs: no whale sell orders ≥5,000 tokens, minimal selling pressure

2) Behavior Patterns (Judging Main Force Intentions)

• Buy-only and lock-in: whales are accumulating in the 150-200 range without selling, clearly long-term positioning

• Market control and uplift: prices are steadily supported by whales in the 190-205 range, with small pullbacks met by buy orders

• Token locking: over 72% of tokens are staked across the network, whales + community lock-in, making circulating supply extremely scarce

3) Institutional/Grayscale Coordination (Whale “Teammates”)

• Grayscale TAO Trust: continuous small-scale accumulation, paving the way for future ETF

• Swiss TAO ETP: steady net inflow, institutional buying continues

• Conclusion: whales + institutions form a joint force, not fighting alone

3. Your Trading Plan (Cost 158, Target 474)

• Current Price 202: Hold and do not reduce the core position