Whales Drive Altcoin Surge: Top 10 $100K+ Transactions
Crypto analytics firm Santiment reports that during the recent Bitcoin and altcoin rally, whale transactions (payments over $100,000) surged across several altcoin projects. Mantle (MNT) led with a 935.9% weekly increase in whale transfers, followed by Wrapped Bitcoin on Optimism (WBTC) at 502.3% and KuCoin Token (KCS) at 350%. Other notable jumps included ENS (315.3%), WETH on Polygon (281.2%), Pendle on Ethereum (214%) and Arbitrum (192.1%), StakeWise Staked ETH (osETH) at 189.6%, Tether on Avalanche (USDT) 171.1%, and USD0 at 123.9%. Some tokens like ENS saw rising whale activity despite a short-term price drop, suggesting major holders are accumulating. This uptick in large transactions may foreshadow further altcoin price moves, offering traders insight into potential bullish momentum.
Bullish
A significant rise in whale transactions often signals accumulation by large holders, which historically precedes price rallies. In this case, the top-performing altcoins saw triple-digit percentage jumps in $100K+ transfers, indicating strong buying pressure. Short-term, traders may see continued volatility and price spikes as whales execute large orders. Long-term, sustained accumulation suggests robust support levels and a bullish outlook for these tokens. Similar patterns in past rallies—when whale activity surged before major altcoin breakouts—reinforce this positive sentiment.