Crypto analytics platform Santiment has issued a warning, noting a significant shift in whale activity. In the past 24 hours, whales have been transferring large amounts of assets to centralized exchanges. This recent trend raises concerns about increased selling pressure in the short term for six specific altcoins: Yield Guild Games (YGG), Eigenlayer (EIGEN), Aethir (ATH), PAX Gold (PAXG), Pendle (PENDLE), and Aave (AAVE). 📈
Santiment’s data reveals substantial transfers, with notable figures exceeding $1.5 million for YGG, EIGEN, ATH, and PAGS, respectively.
A significant movement of $8.2 million was also observed from the Aave platform to centralized exchanges. This large-scale activity has led Santiment to indicate an increased likelihood of profit-taking or selling pressure in the near future. Notably, PAXG, with its gold peg, stands out as a particular area of concern due to recent positive price trends for the precious metal.
*This is not investment advice.*
Continue reading: Analysis Firm Warns: “Sell-Off Risk Has Increased in These 6 Altcoins”