Whales Move $75M of Worldcoin, Staked Ethereum, Mantra, Maker, Reserve Rights, and Movement to Major Exchanges

Major exchanges, including Bybit, Binance, Coinbase, and KuCoin, accepted significant deposits of Worldcoin, Staked Ethereum, Mantra, Maker, Reserve Rights, and Movement during the previous 24-hour period. Cryptocurrency prices remain nearly stagnant despite substantial whale-related altcoin transfers to major centralized exchanges.

Major cryptocurrency exchange Binance, Bybit, Coinbase, and KuCoin received significant deposits of Worldcoin, Staked Ethereum, Mantra, Maker, Reserve Rights, and Movement over the last 24-hour period.

Despite the market remaining largely stagnant, substantial altcoin transfers to major centralized exchanges by crypto “whales” were observed. Here's a summary of the most notable single token movements:

Worldcoin ($WLD) Deposits to Bybit

One of the largest inflows were Worldcoin deposits into Bybit, with a total of $3.4 million in $WLD transferred. A wallet labeled “top_100_balance” performed a transaction that amounted to 0.21% of the total token supply. This substantial movement of $WLD may indicate upcoming market activity in the token.

Staked Ethereum ($stETH) Sees Massive Transfers

Bybit also received significant amounts of $stETH over a short two-hour time window. In the first transfer, Bybit processed a transaction for a total of $59.4 million, which represents 0.20% circulating supply. Another transfer added $41.1 million to $WLD vicinity, increasing its supply by 0.14%. Two cryptocurrency transfers originated from “dex_user” and “top_100_balance” wallets, respectively, which may indicate the participation of crypto “whales.”

Mantra ($OM) Moved to Binance

Binance became the destination for an $8.7 million deposit of Mantra ($OM). This transfer involved an amount of tokens that equates to 0.20% of the asset's total circulating supply. A wallet named “top_100_balance” performed the strategic exchange in a specific wallet. This movement may signal a potential shift in market liquidity combined with the possibility of trading activity.

Maker ($MKR) Transfers to Coinbase

Coinbase received two separate Maker ($MKR) deposits. The first deposit, valued at $1.6 million, shows 0.17% of its total market supply. Another $1.2 million deposit provided approximately 0.12% of the circulating tokens. The transfer transactions emerged from wallets that belonged to major investors, displaying substantial interest in $MKR.

Reserve Rights ($RSR) Flows to Binance

Binance received a $1 million Reserve Rights ($RSR) deposit, which represented 0.14% of its total supply. The initiating wallet that performed this movement had been classified as “top_100_balance” and “cex_withdrawal,” indicating the transfer was part of a substantial portfolio readjustment.

Movement ($MOVE) Deposits to KuCoin

Two large Movement ($MOVE) token deposits went to KuCoin, resulting in high activity on the network. The first transfer was valued at $1.4 million, while the second was $1.5 million. These collective transfers took up 0.16% of the entire token supply.

These massive token movements across different cryptocurrencies signify substantial whale activity despite the stability of the market. The purpose behind these unexpected token transfers remains unclear, but analysts suggest they may signal upcoming market activities such as trading or staking initiatives. As the market participants, it's crucial to follow developing trends closely, as they could impact liquidity and influence future price patterns and market behavior.