Crypto Whales Go on $2B Trading Binge—Market Cap Spikes 15% in 72 Hours
Whale wallets moved more volume than three mid-sized exchanges combined last week—just as Bitcoin clawed back above $70K.
Behind the surge: A single entity dropped $450M in stablecoin buys across ETH, SOL, and obscure DeFi tokens. Cue the conspiracy theories.
Meanwhile, retail traders got front-run (again) by algorithms sniffing out whale liquidity. Thanks for playing, plebs.
Top Altcoin Choices Among Whales
Leading the list, KuCoin Token (KCS) experienced a staggering one thousand percent surge in whale transactions exceeding $100,000 within just one week. Although the price saw a marginal change of 0.36%, the transaction volume increased by more than 80%. This scenario indicates a strategy driven by volume rather than price.
Following KCS, USD Coin (USDC) on the Avalanche network recorded a 587.32% surge in whale transactions. Being a stablecoin, its price remained unchanged, yet it boasted a daily transaction volume exceeding $9.9 billion. This data supports the notion that stablecoins are intensively utilized as value storage and transfer tools by major investors.
Staked Ethena (sENA) ranked third, experiencing a 567% increase in whale transactions, which coincided with a 3.88% price decline. This conflicting scenario suggests the possibility of profit-taking by some large investors or experimentation with different on-chain optimizations.
Whale Radar Locks onto Other Cryptos
Wrapped Bitcoin
$96,306 (WBTC) on the Optimism network saw a 518% weekly transaction rise, ranking fourth. As a coin pegged to Bitcoin’s value, it is heavily utilized as collateral in DeFi protocols, indicating an indirect increase in Leveraged trading activities.
In fifth place, Uniswap (UNI) on the Ethereum
$1,850 network stood out with a 459% rise, despite a 2.5% price dip. This contradiction might signal an increasing selling pressure. Conversely, Tether (USDT) on the Avalanche network, with a 431% transaction surge, remained price-stable, as volume increases in stablecoins are often seen as preparatory for subsequent market activities.
Occupying the lower positions on the list, Optimism (OP), Worldcoin (WLD), Curve (CRV), and Floki (FLOKI) experienced transaction increases between 224% and 387%. Notably, Worldcoin stood out with a 21% volume increase and a 4.5% price rise, indicating a positive outlook from whale investors towards the coin.
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