Whales Are Transferring These 6 Altcoin Projects to Exchanges: Will They Sell?

Monitoring services PeckShieldAlert, Lookonchain, Spot on Chain and Scopescan; provides critical information. As reported by these platforms, there have been notable altcoin transactions recently. In particular, cryptocurrency whales are making significant moves on various exchanges. Among the altcoins subject to these transfers, TRX, SOL, MATIC attracted attention. Among those making the transfers were companies such as FTX and the Arbitrum team, which have been very active lately. Here are the details…

FTX transferred 75 million TRX to Binance

First, according to PeckShieldAlert observations, an FTX address was activated on November 21st. The address witnessed the transfer of 75 million TRX, amounting to approximately US$7.6 million. Notably, 25 million TRX found its way to the popular exchange Binance.

SOL whale sent 200 thousand altcoins to Binance

On the same day, PeckShieldAlert reported another significant movement, where a SOL whale address starting with 7nsWpv sent 187,000 SOL to Binance. Interestingly, the whale still keeps an impressive 2.93 million SOL staked.

Tether treasury took action

Lookonchain monitoring revealed on November 21 that a prominent whale had withdrawn a staggering 96 million USDT from Tether Treasury in the last 10 hours. This significant amount was then deposited into OKX, Kraken and Coinbase. The whale has been carrying funds continuously since October 20. He also accumulates a total of 992 million USDT across various trading platforms.

FTX and Alameda continue their altcoin moves

Spot on Chain reported that a few hours earlier on November 21, an FTX address deposited 1,548 ETH (equivalent to approximately $3.16 million) to Binance via Wintermute Trading. The report shows that since October 24, FTX and Alameda addresses have issued 47 altcoin movements to the exchange, worth a total of $452 million. Additionally, PeckShield highlights that on November 21, the FTX address transferred approximately 5.4 million MATIC tokens to FalconX, worth approximately $4.6 million.

ARB trading from Arbitrum developers

Finally, Scopescan drew attention to Arbitrum movements. In particular, he points out the last two hours of activity in which investor address “0x3322” from Arbitrum development company Offchain Labs moved approximately $86.32 million worth of ARB tokens. A significant portion of the 35 million ARB, worth approximately $35.9 million, is being directed to Coinbase Prime. However, the remaining funds were distributed among different ARB token locking contracts. These important movements of cryptocurrency whales attract attention. It highlights the dynamic nature of the market, which affects various tokens and exchanges, especially in the crypto space. Investors and enthusiasts are watching these developments closely for potential altcoin impacts.

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