Following Massive Whale Deposits to See Which Coins to Profit Take!

There are a lot of different useful ways to use the Top Centralized Exchanges Dashboard on Santiment. And after the scorching market cap growths we've seen across crypto after Bitcoin's all-time high profits began redistributing to altcoins, there really isn't a more important moment than now to keep an eye on whale deposits.

For example, here are some of the most recent $1M+ exchange deposits among ERC-20's at the time of this writing:

Notably, PEPE's recent $2.5M worth of coins being transferred to MXC is a red flag for the surging meme coin. If we take a look at the overall level of transaction volume and deposit transactions, most of them occurred on the initial all-time high surge on Wednesday and Thursday, making the massive transaction that happened today a bit of an outlier.

An under-utilized tool on Santiment that many of our community members can pair well with this dashboard is the Top Transaction Table. Here is what the largest transactions have looked like for PEPE over the past month:

So yes, 5 of the 6 largest transactions on the PEPE network occurred in close proximity to each other by Binance whale addresses. The largest one actually exceeded $2.3B in value. Some may chalk this up to simple reactions to the volatility. But there appear to be quite a few massive transactions that were independent from this $2.5M MXC deposit to indicate the meme coin is seeing an awful low of deposits.

But we of course can use this dashboard in many other ways besides just chronologically sorting by the most recent.

Here is a great filter to look at the largest deposits to Bybit over the past 24 hours:

Ethereum has seen a pair of $3M deposits to the exchange by the same wallet. And after that, we see an appearance by one of the 100 largest Worldcoin wallets, moving $2.3M (or a massive 0.16% of the entire supply) on to Bybit.

Worldcoin's price is +45% over the past 11 days, and we can also see that its supply on exchanges has been moving consistently up. Additionally this is the largest dollar amount of transaction volume day that we've seen in recent history. This indicates an increased risk of a potential top.

Also on that same chart showing the largest Bybit exchange deposits, we see tons of Ethena USDE (a stablecoin) being moved. This is actually a strong sign, considering more stablecoins on exchanges is a sign of more planned buying:

Doing a quick investigation on ChatGPT of USDE (the #202 marketcap at the time of this writing), we see that Bybit, Uniswap V3, and Curve are where this stablecoin is most commonly transacted:

And the familiar theme appears to be that this is closely associated with Ethereum swaps. So this could be a strong sign of ETH growth over the next week.

And for one other great example on how to use this dashboard, let's take a look at the largest percentage of marketcap single transactions that are going on:

First Digital USD (in particular), Creditcoin, and Cyberconnect have all seen major transactions that make up a massive proportion of their overall respective supplies. These are the kinds of transfers that can wildly swing the direction of prices.

Taking a look at where FDUSD is most commonly traded, the clear answer is Binance. And specifically, it is commonly associated with the top marketcaps in crypto, such as:

• Bitcoin (BTC)
• Ethereum (ETH)
• Binance Coin (BNB)
• Dogecoin (DOGE)
• Chainlink (LINK)
• Solana (SOL)
• XRP Ledger (XRP)

As for Creditcoin and Cyberconnect, here is a chart of their recent price swings:

We can see that the price essentially topped very close to when both of their trading volumes peaked over the past week. These volume peaks were aided by several major whale exchange deposits just like these. So undoubtedly, their respective supplies moving to exchanges at quick rates are working as great predictors for tops.

All of these examples on how to use the CEX Deposit Dashboard, of course, are just the tip of the iceberg for what this fantastic tool is capable of. We're continuing to uncover more and more examples of great alpha from this dashboard on a weekly basis.

What discoveries have you made using the dashboard thus far? Remember that it's completely free, and ready to be utilized to help you make more informed decisions!

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Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.