Whales have triggered a significant altcoin sell-off, moving large amounts of SOL, AAVE, and ASTER to exchanges, according to blockchain analytics firm Arkham. The transfers, observed over the past 48 hours, reflect a cautious approach amid ongoing market volatility.
The sell-off saw over $120 million shifted to exchanges, contributing to a 5% drop in total crypto market capitalization, which fell to $3.67 trillion, per CoinGecko. A Solana whale sold 61,845 SOL (~$11.5M), while an Aave whale liquidated 88,227 AAVE (~$19.8M) to repay leveraged positions. In addition, Aster holders moved 58.6M ASTER (~$92M) to Binance and Bybit, signaling a potential near-complete exit. Analysts note that such systematic selling tests market resilience but also reflects disciplined risk management by “smart money.”
Investors are advised to monitor whale movements closely and track SOL, AAVE, and ASTER price action, as these large-scale transfers could influence short-term volatility and liquidity.
Source: https://x.com/embercn/status/1979003208216547653
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