Cartsey Whale Deposits 24 Million CTSI Tokens on Binance – Is This a Sign of a Bearish Trend? #Binance 🔥🔥

The latest move by the Cartesian whale has drawn a lot of attention from the crypto community, with one trader selling off nearly a quarter of a billion dollars worth of CTSI tokens yesterday. This massive sale has raised questions among traders and investors about the state of the Cartesian market and why the whale is selling off his CTSI holdings.

Sales details

According to a crypto analyst on X, the whale sold 24 million Cartesian tokens (worth $3.59 million) to Binance yesterday. The data shows that the sold tokens are equivalent to 2.85% of the circulating supply of CTSI tokens. The whale still has 10 million CTSI tokens (worth $1.52 million) in his wallet.

Impact on the market

This is a negative sign for the CTSI market. Every time the reserve on the exchange increases, it creates selling pressure and triggers a price decline. However, this massive dumping occurs when the overall digital markets have been falling since the beginning of this month.

Why are investors selling CTSI?

The whale’s move to sell a portion of its CTSI holdings came at a time when the broader market’s bullish momentum had cooled. There is no other report of whales interacting with Cartesi in recent times, other than the above case.

Trader activity may be part of a profit-taking plan or a portfolio diversification strategy. However, massive sales by whales often cause concern among individual investors and prices fall. CTSI trading volume has decreased by 14.40% to 12.6 million in the last 24 hours, indicating a decline in market activity recently.$CTSI