- Over $115 million worth of crypto was sent to centralized exchanges within a day.
- Top wallets moved Worldcoin, stETH, Maker, and more, sparking market interest.
- These transactions show high market volatility as whales shift large amounts of tokens.
More than $115M worth of Worldcoin, stETH, Maker, and other cryptocurrencies were transferred to major centralized exchanges in the last 24 hours. Extracting data from Santiment, notable movements include 0.21% of Worldcoin’s supply and 0.20% of stETH sent to Bybit. Additionally, Maker and Reserve Rights also saw transfers, hinting at potential market shifts ahead.
Transfers to Bybit and Binance Sparks Speculations
According to Santiment data, Worldcoin (WLD) led the action with a $3.4 million deposit to Bybit, representing 0.21% of its circulating supply. The transfer occurred at 14:31 UTC, initiated by a top wallet among the largest holders. Staked Ethereum (stETH) followed closely with two major deposits.
The first transfer of $59.4 million happened at 08:49 UTC, while a second, worth $41.1 million, occurred at 07:31 UTC. Both transactions originated from wallets ranked in the top 100 balances, signaling possible preparations for major trades.
On Binance, Mantra (OM) witnessed an influx. A transfer of $8.7 million, equivalent to 0.20% of OM’s supply, was completed at 11:50 UTC. Similarly, Reserve Rights (RSR) saw a $1 million deposit, making up 0.14% of its supply, recorded at 00:21 UTC. This activity reflects a trend of whales positioning assets on exchanges, likely in anticipation of market events.
Maker and MOVE Exhibit Strategic Moves Across Exchanges
Maker (MKR) recorded huge transfers, with two deposits directed to Coinbase Prime. At 10:11 UTC, a wallet within the top holders deposited $1.6 million, accounting for 0.17% of the supply. A second transaction of $1.2 million followed at 06:22 UTC, hinting at planned institutional trading activity.
Meanwhile, Movement (MOVE) demonstrated cross-exchange movement, with a $1.4 million transfer to KuCoin at 01:20 UTC and another deposit of $1.5 million sent to Binance at 00:52 UTC. Both originated from wallets tagged as CEX withdrawal sources and top 100 balances, reinforcing suspicions of liquidity strategies.
Related: Crypto Whales Witness Massive Loss After TRUMP Coin Plummets
Market Implications: Is Market Rebound Imminent After The Buy?
Could these whale deposits be a precursor to significant price volatility? Large inflows typically indicate sell-offs, arbitrage, or preparation for major market events. In such an occurrence, investors should watch for a rebound as the altcoin market collects bearish liquidity and begins a massive surge. Traders should monitor these developments as the crypto market waits to gauge their impact.
