{"id":540337,"date":"2023-06-29T14:00:13","date_gmt":"2023-06-29T14:00:13","guid":{"rendered":"https:\/\/ktsl888.com\/?p=540337"},"modified":"2024-06-11T09:17:42","modified_gmt":"2024-06-11T09:17:42","slug":"altcoin-whales-highly-active-day-volatility-incoming","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/altcoin-whales-highly-active-day-volatility-incoming\/","title":{"rendered":"Altcoin Whales Show Highly Active Day, Volatility Incoming?"},"content":{"rendered":"

On-chain data shows that altcoin whales have been highly active recently, something that could lead to volatility in the prices of these assets.<\/p>\n

Altcoin Whales Have Displayed One Of The Most Active Days Of 2023<\/h2>\n

According to data from the on-chain analytics firm Santiment<\/a>, several altcoins have seen transfers worth more than $10 million in value in a single day. Generally, besides centralized platforms like exchanges, only whale<\/a> investors are capable of moving such a large amount of tokens with individual transactions.<\/p>\n

Whales are an important part of any cryptocurrency’s ecosystem, as the sheer number of coins that they hold means that they can sometimes have the power to influence the market.<\/p>\n

Related Reading: Stablecoin Cap Shows Early Sign Of Reversal, Why This Could Benefit Bitcoin<\/a><\/p>\n

Naturally, only a couple of whales making a few sizeable, but still relatively small transfers likely won’t actually produce visible fluctuations on the market, but a few massive transfers may do so.<\/p>\n

Thus, whenever the whales are highly active (that is, a number of them are making multiple large transactions), the price of the asset that they are trading can become more likely to display volatility<\/a>.<\/p>\n

Now, here is a chart from Santiment that shows how the scale of whale activity has recently looked like for the various altcoins in the sector:<\/p>\n

\"Image\"<\/p>\n

Many different assets seem to have observed high levels of whale activity recently | Source: Santiment on Twitter<\/a><\/pre>\n

As highlighted in the above graph, the whales of several altcoins moved around a large volume of tokens yesterday. Many of these alts saw major transactions crossing the $10 million mark, making the day the third most active of the year.<\/p>\n

These large transactions have come while these alts have registered some amount of fluctuations during the past week. It would appear that this market activity has raised the interest of the whales in trading these assets.<\/p>\n

As mentioned before, whales making such large multiple transactions can result in higher volatility for the prices of these cryptocurrencies. So far, however, since these large transfers have taken place, some of these coins have noticed some volatile price action, while the others have continued to move sideways.<\/p>\n

From the chart, it’s visible that Polygon (MATIC)<\/a> in particular saw extreme amounts moved by the whales, but the asset has still only moved 1% in the past day. Nonetheless, it’s possible that volatility could still be coming soon for the asset, so it may be worth keeping an eye on the cryptocurrency.<\/p>\n

Related Reading: Bitcoin Rally Stalls As Short-Term Holder Exchange Inflows Intensify<\/a><\/div>\n

Interestingly, the Tether (USDT) whales have also been quite active recently, suggesting that some large shifts have been taking place. It’s unknown whether these moves are for buying or selling, but if they are a sign of whales exchanging the stablecoin for buying into the other cryptocurrencies, then their prices may feel a bullish effect.<\/p>\n

MATIC Price<\/h2>\n

At the time of writing, Polygon is trading around $0.63, up 6% in the last week.<\/p>\n

\"Polygon<\/p>\n

Looks like MATIC has been struggling recently | Source: MATICUSD on TradingView<\/a><\/pre>\n
Featured image from Vivek Kumar on Unsplash.com, charts from TradingView.com, Santiment.net<\/div>\n","protected":false},"excerpt":{"rendered":"

On-chain data shows that altcoin whales have been highly active recently, something that could lead to volatility in the prices of these assets. Altcoin Whales Have Displayed One Of The Most Active Days Of 2023 According to data from the on-chain analytics firm Santiment, several altcoins have seen transfers worth more than $10 million in value in a single day. Generally, besides centralized platforms like exchanges, only whale investors are capable of moving such a large amount of tokens with individual transactions. Whales are an important part of any cryptocurrency’s ecosystem, as the sheer number of coins that they hold means that they can sometimes have the power to influence the market. Related Reading: Stablecoin Cap Shows Early Sign Of Reversal, Why This Could Benefit Bitcoin Naturally, only a couple of whales making a few sizeable, but still relatively small transfers likely won’t actually produce visible fluctuations on the market, but a few massive transfers may do so. Thus, whenever the whales are highly active (that is, a number of them are making multiple large transactions), the price of the asset that they are trading can become more likely to display volatility. Now, here is a chart from Santiment that shows how the scale of whale activity has recently looked like for the various altcoins in the sector: Many different assets seem to have observed high levels of whale activity recently | Source: Santiment on Twitter As highlighted in the above graph, the whales of several altcoins moved around a large volume of tokens yesterday. Many of these alts saw major transactions crossing the $10 million mark, making the day the third most active of the year. These large transactions have come while these alts have registered some amount of fluctuations during the past week. It would appear that this market activity has raised the interest of the whales in trading these assets. As mentioned before, whales making such large multiple transactions can result in higher volatility for the prices of these cryptocurrencies. So far, however, since these large transfers have taken place, some of these coins have noticed some volatile price action, while the others have continued to move sideways. From the chart, it’s visible that Polygon (MATIC) in particular saw extreme amounts moved by the whales, but the asset has still only moved 1% in the past day. Nonetheless, it’s possible that volatility could still be coming soon for the asset, so it may be worth keeping an eye on the cryptocurrency. Related Reading: Bitcoin Rally Stalls As Short-Term Holder Exchange Inflows Intensify Interestingly, the Tether (USDT) whales have also been quite active recently, suggesting that some large shifts have been taking place. It’s unknown whether these moves are for buying or selling, but if they are a sign of whales exchanging the stablecoin for buying into the other cryptocurrencies, then their prices may feel a bullish effect. MATIC Price At the time of writing, Polygon is trading around $0.63, up 6% in the last week. Looks like MATIC has been struggling recently | Source: MATICUSD on TradingView Featured image from Vivek Kumar on Unsplash.com, charts from TradingView.com, Santiment.net<\/p>\n","protected":false},"author":542,"featured_media":540346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[134,88528,88527,142,51066,40670,83584],"class_list":["post-540337","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoin","tag-altcoin-volatility","tag-altcoin-whales","tag-altcoins","tag-alts","tag-matic","tag-polygon"],"acf":[],"yoast_head":"\nAltcoin Whales Show Highly Active Day, Volatility Incoming?<\/title>\n<meta name=\"description\" content=\"On-chain data shows that altcoin whales have been highly active recently, something that could lead to volatility in the prices of these assets. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Altcoin Whales Show Highly Active Day, Volatility Incoming?","url":"http:\/\/ktsl888.com\/news\/altcoin-whales-highly-active-day-volatility-incoming\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/altcoin-whales-highly-active-day-volatility-incoming\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/vivek-kumar-fs283LESUtc-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/vivek-kumar-fs283LESUtc-unsplash-scaled.jpg?fit=2560%2C1486"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","altcoin volatility","altcoin whales","altcoins","alts","matic","polygon"],"dateCreated":"2023-06-29T14:00:13Z","datePublished":"2023-06-29T14:00:13Z","dateModified":"2024-06-11T09:17:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Altcoin Whales Show Highly Active Day, Volatility Incoming?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/altcoin-whales-highly-active-day-volatility-incoming\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/altcoin-whales-highly-active-day-volatility-incoming\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/vivek-kumar-fs283LESUtc-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/vivek-kumar-fs283LESUtc-unsplash-scaled.jpg?fit=2560%2C1486\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"altcoin volatility\",\"altcoin whales\",\"altcoins\",\"alts\",\"matic\",\"polygon\"],\"dateCreated\":\"2023-06-29T14:00:13Z\",\"datePublished\":\"2023-06-29T14:00:13Z\",\"dateModified\":\"2024-06-11T09:17:42Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/vivek-kumar-fs283LESUtc-unsplash-scaled.jpg?fit=2560%2C1486","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/540337"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=540337"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/540337\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/540346"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=540337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=540337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=540337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}