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!