Whales sold their altcoins

Last weekend, whales aggressively sold altcoins. They dumped both Ethereum and smaller tokens, such as PEPE and HYPE. Assets for millions of dollars were either sold or displayed on exchanges.

With their large transactions, whales attracted attention and raised questions about the future direction of the market.

Ethereum headed a wave of sales

Ethereum was one of the best -selling altcoins last weekend. Particular attention was attracted by the activity of the address “OG”, which owned 1 million ETH from the ICO era. Recently, this address sold 991.67 ETH in the amount of $ 2.51 million/ this he brought the total amount of ETH sold from May 26 to 9 845.96 ETH ($ 25.23 million).

The initial value of these assets was only $ 0.31 for ETH, which brought the whale a huge profit. If he continues to adhere to a “slow sale” strategy, maintaining a pace of 1,000 ETH per week, this can last months or even for years.

In addition, another investor who was inactive for 4 years suddenly transferred 4,949,63 ETH to a centralized exchange (CEX). Another whale withdrew 10 708 ETH from Lido and immediately sent them to OKX. All these actions reflect either fear or fixation strategies against the background of market volatility.

However, not everything comes down to such sales. One investor spent 467.58 ETH ($ 1.18 million) to increase its KTA reserves. This indicates the search for opportunities in other promising projects, and not just in ETH.

Despite the short -term bearish attitude, traders remain quite optimistic regarding the long -term prospect of the coin.

Whales sold other large altcoins

In addition to ETH, several other large altcoins were also sold at the weekend. Hype from Hyperlique also experienced sales pressure. One of the whales received more than $ 38 million from HYPE, selling 131 137 tokens.

Sustainable conclusion of altcoins on exchanges from the whales may indicate active sales. Another whale sent 1 trillion PEPE ($ 11.65 million) to Binance. Four addresses belonging to the same whale deposited 356 thousand LINK on Binance with estimated profitability (ROI) 97.3%. Another major player withdrew $ 7.52 million to SOL from stakeing and sent most of the Binance.

These actions can be important signals. When whales begin to actively sell, this often coincides with price maximums, as they fix profit after the growth phase. However, this may also indicate fears about the possible correction. Historically, such sales in the past led to a surge of volatility. However, they also opened up shopping opportunities at lower levels.

Now investors should carefully monitor onchain-metrics and bid volumes. If the sales continue, the market may experience short -term pressure down. However, if a new demand appears, prices may be restored.

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