The large-scale transfers and position changes observed in the cryptocurrency market in recent hours indicate that whale activity is increasing again.
According to on-chain data, two new wallets believed to be linked to a single asset led to a significant Ethereum leak ($ETH). A total of 6,328 was withdrawn from these wallets $ETH (approximately $12.98 million) from the Binance exchange.
On the other hand, selling pressure was also seen on other fronts. It was seen that 450,000 wallets linked to the whale “loracle.hl” have started selling. $HYPE Tokens (approximately $15.52 million). The fact that the same wallet placed 253,861 sell orders $HYPE ($8.9 million) in the range of $34.80 to $35.49 is considered a development that could cause short-term downward pressure on the asset.
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A notable development occurred in the derivatives market. The roughly two-week-old wallet was seen depositing $4.97 million worth of USDC onto the HyperLiquid platform and opening a small Brent crude oil short position with 3x leverage.
On the altcoin front, violent price movements were noticeable. After experiencing a surge of more than 200% in the past 24 hours. $STO The token returned a significant portion of its profits. During this period, $11.76 million was seen withdrawn from a new wallet called “0x2c2c.” $STO (approximately $2.94 million) from Binance, quickly reaching a value of $6.99 million and generating an unrealized gain of $4.05 million.
*This is not investment advice.
