Massive Altcoin Transactions Coinciding With Local Tops This Week
Sometimes one or two major individual transactions alone are enough to reveal that a whale selloff may send an asset spiraling.
Here are a couple assets seeing HUGE transactions the last few days:
Kyber Network - $26M (2/22)
KNC had a flurry of large transactions Monday, including 13m tokens swapping exchange addresses.
The spike in on-chain transaction volume and exchange inflow has predictably sent KNC downward.
0x Protocol - $44M (2/19)
The 28M ZRX tokens sent from a whale to exchange address marked the highest USD value transfer in the token's 3.5-year history.
Prices have been very volatile since, but it did drop massively during the market-wide correction Monday. Note the major exchange inflow spikes highlighted!
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Conversations (5)
Great Brian! could we have the links to the charts on the next one?
Author
Will do!
Many thanks Mr Brian, appreciated.
good looking info- thanks for sharing this- any tips of the best tools to spot inflows? any alert settings?
Author
You bet! I find spikes in exchange inflow/outflow through our Sansheets model that looks for large outliers. You can simply plug in your API to view them. If you don't yet have a PRO account, upgrade here: https://app.santiment.net/pricing Once you have your Sanbase PRO account (or if you already do), you'll then want to check out any of the model links below and go to File -> Make a Copy, and simply:
Exchange Inflow & Outflow https://docs.google.com/spreadsheets/d/1ToNv8eFkMVGd5ByypYJj1G4hmsXB8b1ZN6oy9vd5PIQ/edit#gid=1292760103