There Has Been Significant Whale Activity in Altcoins in Recent Hours – Here Are the Trades They’ve Made
The large-scale transfers and position changes observed in the cryptocurrency market in recent hours indicate a renewed increase in whale activity.
According to onchain data, two new wallets, believed to be linked to a single asset, have made a significant outflow of Ethereum (ETH). These wallets withdrew a total of 6,328 ETH (approximately $12.98 million) from the Binance exchange.
On the other hand, selling pressure was observed on a different front. A wallet linked to the whale “loracle.hl” was seen starting to sell 450,000 HYPE tokens (approximately $15.52 million). The fact that the same wallet placed a sell order for 253,861 HYPE ($8.9 million) in the $34.80–$35.49 range is considered a development that could create short-term downward pressure on the asset.
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A notable development occurred in the derivatives markets. A wallet, approximately two weeks old, was seen depositing $4.97 million worth of USDC into the HyperLiquid platform to open a small Brent oil short position with 3x leverage.
On the altcoin front, sharp price movements stood out. After experiencing a surge of over 200% in the last 24 hours, the STO token gave back a significant portion of its gains. During this period, a new wallet called “0x2c2c” was seen withdrawing 11.76 million STO (approximately $2.94 million) from Binance, quickly reaching a value of $6.99 million and generating an unrealized profit of $4.05 million.
*This is not investment advice.
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