After a recent market crash triggered by the Chinese AI model Deepseek, the crypto market is slowly recovering as Bitcoin price is back to $105K with the overall crypto market seeing a rise of 2%. Despite all this, a leading on-chain market intelligence platform has flagged 6 altcoins which are about to see a massive price drop as Whales begin to offload these coins.
If you’re holding any of these tokens, you’ll want to pay close attention!
Major Altcoins Moved to Exchanges
According to data from Santiment, over the last 24 hours, 6 major altcoins have been moved to various crypto exchanges in large amounts with a market cap range from almost $800 million to above $5 billion. Meanwhile, these transfers could indicate that investors are preparing to sell, trade, or might be repositioning their holdings.
Here’s a breakdown of the most notable moves;
- Worldcoin (WLD): 0.21% of its total supply was sent to Bybit.
- Staked Ethereum (stETH): 0.20% of its supply was transferred to Bybit.
- Mantra (OM): 0.20% of its supply moved to Binance.
- Reserve Rights (RSR): 0.14% of its supply was sent to Binance.
- Maker (MKR): 0.12% of its supply was transferred to Coinbase.
- Movement (MOVE): 0.08% of its supply moved to KuCoin.
However, much of the amount of increase in exchange deposits often signals that investors are preparing to sell, which can lead to a drop in prices due to higher supply in the market.
Technical Analysis Of Altcoins
Despite the recent market downturn, some of these altcoins have managed to buck the trend, posting gains of 10% to 30% over the past week. Leading the pack is Mantra (OM), which has surged by an impressive 32% in just seven days, with a market cap of $5 billion.
However, this sharp rise has sparked concerns that large holders of these tokens might start offloading their holdings to lock in profits.
While these transfers don’t guarantee immediate price changes, they do highlight the ongoing activity in the crypto market, even during quieter periods.
