Analyzing Crypto Whale Activity: Are They Buying or Selling?

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.

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.

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.

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.

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.

Source