Recently, Santiment, which analyzes cryptocurrencies, shared some important data that attracted attention. According to the platform, PEPE coin$PEPE
There is movement in cryptocurrencies such as , Ethena, EIGEN. Especially large investors, namely whales, have started trading in these assets. On-chain data shows that whales are transferring to exchanges specifically for sales purposes. Here are all the details about these developments…
Cryptocurrency analytics firm Santiment recently highlighted a surge in large investor transfers to centralized exchanges for a number of altcoins. The analysis noted significant movements in assets such as Eigenlayer ($2.8 million), Ethena ($2.5 million), Worldcoin ($2 million), Wrapped Bitcoin ($4.8 million), Pepe ($3 million), and Chainlink ($1.8 million). These transfers may seem small compared to the total market cap, but the fact that many transactions occurred in just a single day makes them noteworthy.
Such sudden transfer increases indicate that large investors are preparing to take profits or reduce their exposure to these altcoins. According to Santiment, this increase in large transactions indicates that some whales have started to sell some of their holdings. While Bitcoin’s recent price increase has mitigated its potential impact on these altcoins, the increased activity points to short-term risks, namely a possible pullback. Since whale movements often precede market movements, investors and traders are closely following these developments.
According to Santiment’s report, Curve DAO (CRV) has experienced major volatility increases recently. The mid-cap altcoin, which has a market cap of around $2 billion and a daily trading volume of over $1.2 billion, has increased by nearly 50% in the past week. Also, according to Santiment, Memecoin (MEME), a rapidly growing NFT-focused meme coin ecosystem backed by the 9GAG community, has recently attracted the attention of many whale traders. MEME has a market cap of around $1.1 billion, while its average daily trading volume is around $241 million.
In addition, according to Santiment, the rapidly growing LayerZero (ZRO) protocol has attracted the attention of whale investors. The ZRO token currently stands out with a market value of $688 million and a daily trading volume exceeding $790 million. According to Santiment data, a Web3 wallet such as Trust Wallet (TWT) is also reported to have benefited from whale purchases. In addition, tokens such as FTN, ENS, AMP, AXL and DAI are among the other assets that whales are focusing on.