Whales Are Withdrawing Millions From These Altcoins. Should Investors Be Worried?

Altcoins under the influence of whales: Multimillion-dollar withdrawals and accumulations revolutionize the market
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The altcoin market has witnessed significant movements in the last 24 hours, with massive withdrawals of key cryptocurrencies from exchanges by several whales, which has significantly impacted their prices.

In a report provided by Spot On Chain, it is revealed that around 3.02 million tokens of Worldcoin (WLD) have been removed from exchange platforms.

Large players such as Amber Group and a user known as 0xbd8 made significant withdrawals, totaling approximately 3.02 million WLD withdrawn from the market.

This move not only reduced the availability of WLD on exchanges, but also boosted its price by more than 10%, placing it at around $2.60 at the time of the report, according to official data from CoinMarketCap.

Apecoin (APE) also attracted the attention of large investors, with a multisig user identified as 0xb4e accumulating a total of 6.02 million tokens APE in the last 8 days.

This massive increase in the holding of APE by whales was reflected in a 14% increase in its price in a period of 8 hours, reaching $1.9 per token.

Despite a slight correction, APE’s weekly performance tilted positively by 14.5%.

Other Altcoins, like Chainlink (LINK) also experienced considerable movements

One savvy investor withdrew over 218,000 LINK tokens, valued at approximately $3.23 million, from Coinbase, bringing the total to 751,050 LINK in his wallet, valued at over $11 million.

Despite registering a 7% increase in its price during the day, reaching $15.2, LINK showed a slight increase of 2% in its weekly performance.

These whale movements, withdrawing large amounts of WLD, accumulating APE and withdrawing LINK from exchanges, have generated a significant impact on the prices of these altcoins.

Crypto whales transform the market: Withdrawals and accumulations of WLD, APE and LINK cause commotion

The recent movements of whales in the crypto market raise an interesting range of possibilities.

These movements, which could suggest strategies such as withdrawal of assets for long-term holding, participation in staking or even transfer to other exchanges for sale, generate a crucial point of reflection.

It is well known that a decrease in available supply often correlates with an increase in prices in the world of cryptocurrencies.

The underlying logic is simple: as supply reduces, relative demand tends to stay the same or increase, putting pressure on the rise in prices.

This dynamic suggests that whales strategic decisions to withdraw or accumulate assets may, in fact, significantly influence the valuation of currencies in the market.


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