Large altcoin transfers signal potential whale sell-offs and market volatility.
Bitcoin’s bullish momentum may not shield altcoins from short-term retracements.
Chainlink bucks the trend, rising 21.93% while other altcoins face declines.
Data from Santiment’s Centralized Exchange Deposits Dashboard reveals substantial altcoin transfers to exchanges, indicating potential sell pressure from whales. This suggests that large holders plan to sell some of their holdings.
Investors should closely monitor these projects for signs of short-term price retracements as some of the market’s largest altcoins experience significant shifts. Despite Bitcoin’s bullish momentum, these altcoins remain susceptible to market corrections.
According to the @santimentfeed Centralized Exchange Deposits Dashboard, some of the largest trasnfers of altcoins include Eigenlayer ($2.8M), Ethena ($2.5M), Worldcoin ($2.0M), Wrapped Bitcoin ($4.8M), Pepe ($3.0M), and Chainlink ($1.8M).
When large levels of an asset's… pic.twitter.com/TE6Hgz2oYQ
— Santiment (@santimentfeed) December 2, 2024
Notable Altcoin Transfers to Exchanges
Among the altcoins with the most significant transfe…
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