See More

Analyzing Crypto Whale Activity: Are They Buying or Selling?

1 min
Updated by Ali M.
Join our Trading Community on Telegram

In Brief

  • Volatility in the crypto market is creating excitement among key stakeholders.
  • Whale transactions in Cardano, Hex, Paxos Standard, and The Sandbox are on the rise.
  • Prices are likely to shift based on prominent crypto whale activity spikes.
  • promo

In a year that has seen market volatility across sectors, crypto whales have been displaying heightened excitement. According to on-chain analytics provider Santiment, volatile markets provide ideal opportunities to make key moves to differentiate oneself from the average investor.

Recently, several altcoins have seen significant moves by crypto whales, indicating a surge in investors’ interest.

Cardano (ADA) Whales Are Buying

Ignoring the five-day gap in data for Cardano, ADA has experienced a major spike since February, indicating significant interest from crypto whales.

Crypto Whales Cardano ADA
Source: Santiment

Hex (HEX) Remains Trending Upwards

Richard Heart’s baby, Hex, has been the subject of much debate in the crypto world. Despite this, it continues to climb, with the highest level of whale transactions occurring yesterday, excluding February 9, and a mid-sized correction on that day.

It won’t be surprising if history repeats itself for a few more days.

HEX Whales
Source: Santiment

Are Crypto Whales Cashing Out of Paxos Standard (USDP)?

The recent SEC lawsuit against Paxos Standard’s owned BUSD stablecoin has caused significant shifts in asset trading.

The major spikes in Paxos Standard can be attributed to this lawsuit, with fluctuations likely to continue as more stories break around this issue.

Paxos Standard (USDP)
Source: Santiment

The Sandbox (SAND) Rises on Buying Pressure

The Sandbox has been on a tear of its own, turning heads with a significant increase in prices.

Recently, it marked the third-highest crypto whale spike in the past three months as prices continued to rise. This may increase the likelihood of a short-term correction.

Sandbox (SAND) Whales
Source: Santiment

Crypto whale moves continue to shift markets, with prices increasingly likely to reverse direction based on the prominence of whale activity spikes. Keep an eye on these assets and how crypto whales continue to influence the market.

Top crypto projects in the US | June 2024
Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCrypto’s editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.

TCPMHRYSU-U03T5LKRP5J-f1c2fdda21bd-512.png
Ali Martinez has been at the forefront of content creation and market analysis in the cryptocurrency industry since its early days. His journey began with reporting on market trends and price movements, and he quickly established himself as an authority in the field. Ali has covered significant developments in the cryptocurrency market, including market booms, regulatory changes, and major technological advancements. His deep understanding of blockchain technology and market trends has...
READ FULL BIO
Sponsored
Sponsored