Cryptocurrency analytics platform Santiment reported that whales have been moving large amounts of their assets to centralized exchanges in the last 24 hours.
According to the company’s data, Yield Guild Games (YGG), Eigenlayer (EIGEN), Aethir (ATH), PAX Gold (PAXG), Pendle (PENDLE) and Aave (AAVE) stand out among altcoins with increasing risk of selling pressure.
According to the data in the last hours:
- Approximately $1.9 million for Yield Guild Games (YGG),
- $1.5 million for Eigenlayer (EIGEN),
- $1.6 million for Aethir (ATH),
- $3.2 million for PAX Gold (PAXG),
- $1.4 million for Pendle (PENDLE),
- For Aave (AAVE), $8.2 million was transferred to centralized exchanges.
According to Santiment, such large movements generally increase the likelihood of profit-taking or selling pressure in the short term. Among the altcoins with increased risk, according to the analyst firm’s data, PAXG, whose price is pegged to gold, is noteworthy. Gold has recently been in the news for its consecutive record-breaking performance.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/analysis-firm-warns-sell-off-risk-has-increased-in-these-6-altcoins/