Whales quietly reshuffle their holdings into and out of major centralized exchanges as the crypto market heats up. Recent insight from Santiment has shown that PEPE
Whales are quietly reshuffling their crypto holdings as the market heats up. Recent data from Santiment showed that PEPE, a meme coin, stole the show with a $2.5 million transfer to MXC – a move that was far from its usual high-transaction days.
Such large deposits could signal caution, especially since five of PEPE's largest transactions in the past month originated from Binance-linked whales. These whale movements could indicate upcoming sell-offs, putting its recent rally at risk of a complete reversal.
Ethereum and Worldcoin also made some noticeable moves, with a single wallet transferring $3 million to Bybit and the supply of Worldcoin on exchanges spiking after a $2.3 million deposit. It followed up with a 45% price increase in 11 days. Such huge inflows typically occur during profit-taking, prompting traders to prepare for possible market corrections.
Stablecoins like Ethena USDE also showed increased exchange activity, which might indicate accumulation. As inflows into stablecoins increase, it could often be the precursor to buying periods, and it could hopefully continue to proliferate towards Ethereum and tokens, too.
Other notable movers within the top 100 include First Digital USD, Creditcoin, and Cyberconnect, which each saw a single trade that constituted a significant percentage of the circulating supply. This move also coincides with peaks in trading volume, which is often an indication of upcoming price corrections.
It's no secret that Binance dominates those assets, including but not limited to large-cap tokens like Bitcoin, Ethereum, and Solana. The fact that such massive transactions are at play highlights the importance of tracking exchange inflows to anticipate market fluctuations.
This is because whale activities tend to drive the broader crypto market, and this may be critical during volatile phases of the markets.
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