Using Santiment's Whale Deposit Centralized Exchange Dashboard

With Santiment's Whale Deposit Centralized Exchange Dashboard, we are continuing to find fascinating data that gives us an idea of what big moves are going on in the markets on a day to day basis.

Generally, when we see a high frequency of whale deposits moving to centralized exchanges, it's not the most promising sign for an asset. Major transfers of coins from personal wallets to centralized exchanges are more often than not a signal of intent to sell by the whale who made the transfer. And since large key stakeholders are responsible for big price moves, those selloffs may lead to price declines.

As you are trying to be an informed trader or investor, it is important to identify when a major drop-off could be happening BEFORE it occurs... rather than reacting to it as it's happening. This is why we really like using whale transfers to centralized exchanges as a signal for what's likely around the corner, giving users time to make informed decisions.

There are many cases where these key stakeholders may move a large quantity of coins to exchanges, but not end up selling for several hours, days, or weeks. This means you could literally beat them to the punch, and safely take profits on your altcoins before the major riptide comes at the moment of the whale's selloff.

In terms of where we are right now, the dashboard is heavily indicating some major moves of Ethereum going to Binance:

However, we can see that the overally supply of Ethereum on exchanges has been dropping massively (albeit while ETH's price is dropping):

With the above dashboard screenshot looking at the latest $1M+ centralized deposits, we can see that the two largest deposits to centralized exchanges in the past 24 hours (which is the timeframe this dashboard shows) were also both Ethereum. A pair of $107.3M and $106.6M deposits, both moving to Binance, and by the same wallet:

There are also a few scattered large Wrapped Bitcoin deposits to Bitfinex and Binance, but none of the others listed are nearly as large as those two $100M+ ones.

Now if we sort by the largest moves by percentage of market cap, this is a fun way to see which altcoins are actually seeing a significant portion of their supplies getting moved. It appears that Arkham (0.8% of its supply) and Eigenlayer (0.41% of its supply) are the two coins seeing the biggest chunks of their entire networks being moved at this moment. So they would be ones to be a bit cautious of some downswings currently:

And if you'll notice the small "filter" buttons next to the headers of each category at the top of the dashboard, you can also do interesting things like filter by exchange. Here, we can see what the dashboard looks like if we only sort by the largest deposits to Binance:

And here is a different perspective, where we've sorted by whale deposits moving to a smaller exchange, OKX:

Toward the bottom of the dashboard, you may actually find the most useful aspect of the dashboard. Here, you can search for the specific coins you care about most and produce a table of the value of their transactions, as well as the number of transactions, to centralized exchanges:

Check out how perfectly PEPE, for example, ended up seeing its local top on November 12, 2024, following a massive level of coins moving to exchanges. If you saw this spike shortly after it occurred, you would have been able to successfully take profit with confidence knowing that an upcoming price correction was quite likely.

We will, of course, continue to update you here on our Insights page and social media on any major moves that suddenly stand out. But odds are that you will find the best opportunities to safely take profit by using the Centralized Exchange Deposits dashboard on your own. If you're considering taking profit on some assets right now, checking to see if your coin is suddenly seeing some network anomalies can be a massive capital saver.

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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.