Massive Altcoin Transactions Coinciding With Local Tops This Week

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brianq
Feb 25, 2021


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!

KNCZRX
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brianq
Feb 25, 2021

Thanks for reading!

If you enjoyed this insight please leave a like, join discussion in the comments and share it with your friends!

5

Assets from this insight

Kyber Network logo

Kyber NetworkKNC

$ 2.79

20.57%in last 7d
0x logo

0xZRX

$ 1.65

23.05%in last 7d

Conversations (5)

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@aslivinschi

2 months ago

Great Brian! could we have the links to the charts on the next one?

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brianq

Author
2 months ago

Will do!

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@aslivinschi

2 months ago

Many thanks Mr Brian, appreciated.

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stockmycoins

2 months ago

good looking info- thanks for sharing this- any tips of the best tools to spot inflows? any alert settings?

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brianq

Author
1 month ago

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 ā€‹ 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: 1) Download Sansheets: https://academy.santiment.net/sansheets/setting-up/ 2) Plug in your API: https://academy.santiment.net/sansheets/adding-an-api-key/----- 3) If you're having trouble getting the data to load on a model, head to the 'Data' tab on the far right of the spreadsheet, and go to the yellow cell. Then delete the cell formula, then hit Undo. This should manually refresh the data. ----- Exchange Inflow & Outflow https://docs.google.com/spreadsheets/d/1ToNv8eFkMVGd5ByypYJj1G4hmsXB8b1ZN6oy9vd5PIQ/edit#gid=1292760103