Whales are large holders of a cryptocurrency, and these individuals or entities can shift the market either by buying up coins or by dumping coins into the market.
When Santiment, a cryptocurrency analytics firm, looks at the behavior of large holders, it sees it in terms of market correlation. Because the movement of these assets is in correlation with a number of different market factors, when these whales start moving to or away from exchanges, Santiment uses that to try to forecast certain market conditions.
Some of the largest whale movements observed were for the assets $EURI, $USDP, $NEIRO, and $MOCA, during which large portions of the total supply of those assets was transferred. That’s an important point to note because these big transfers to exchanges are often signals that major price adjustments are about to happen.
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Whale Activity Overview
@santimentfeed has provided data showing that these tokens moved large portions of their supply to centralized exchanges recently:
– $EURI (2.92% of supply moved): The European stablecoin, $EURI, saw 2.92% of its total supply moved to exchanges. Such a large transfer could signal a variety of things, such as a whale preparing for a potential sale or repositioning in the market. Given the volatility inherent in stablecoins and their importance in global trading, large transactions like this could also be tied to strategic moves involving currency hedging or liquidity management and might echo the financial gymnastics around the collapses of Lehman Brothers and Bear Stearns.
– $USDP (1.89% of supply moved): In much the same way, the Paxos-issued stablecoin, $USDP, witnessed 1.89% of its supply being shifted to exchanges. Although $USDP has seemed a relatively stable asset in the crypto space, this sort of shifting could be a signal that significant holders are gearing up for trading in the not-so-distant future, with the potential to affect liquidity and pricing. Whether these transfers represent a move toward liquidation or a positioning play in anticipation of a broader market shift remains to be seen.
– $NEIRO (1.21% of supply moved): The movement of 1.21% of the total supply of $NEIRO is particularly noteworthy. NEIRO is a smaller-cap cryptocurrency that could experience more noticeable price fluctuations based on large transactions. Whale movements in such assets often precede significant market moves, either from institutional investors seeking to take advantage of price swings or from major stakeholders adjusting their portfolios.
– $MOCA (0.88% of supply moved): Lastly, $MOCA, the native token of the Moca Network, saw 0.88% of its total supply moved to exchanges. While this may seem like a smaller transfer compared to the others, it still represents a sizable percentage of the token’s circulating supply. Given that $MOCA is associated with a specific ecosystem, such movements could indicate upcoming project developments or changes in investor sentiment regarding its long-term potential.
🐳 Significant whale movement to exchanges, according to the @santimentfeed centralized exchange deposit dashboard, has been spotted for the following assets in individual transfers:
🪙 @eurite_bc $EURI (2.92% of supply moved)
🪙 @paxos $USDP (1.89% of supply moved)
🪙… pic.twitter.com/rgQ0z40jND— Santiment (@santimentfeed) March 31, 2025
Why Whale Movements Matter
The exchanges can be early warning systems for enormous market changes. They and the activity seen at them tell us a lot when it comes to major market moves. Seeing big chunks of an asset being moved to centralized exchanges by large holders is, on the whole, a pretty bearish signal. It could certainly also be a signal to be on guard, not just for those who hold particular assets but for the market as a whole.
Furthermore, transactions by whales tend to have an effect on liquidity, and this is particularly apparent in smaller-cap assets. The same is true for market conditions wherein the volatility is low. In these scenarios, a single large trade, whether it’s a buy or a sell, can push the price of an asset well in the intended direction if that direction happens to be down. But what are the implications of this for the future of price discovery and an asset’s real-world utility? Again, I don’t know.
Consequently, analysts and investors have to keep a watchful eye on the activity of whales. When the biggest holders of a cryptocurrency start making significant moves, it is always a good idea to figure out what those moves might mean. If you can, try to track down the largest transfers of crypto to exchanges and figure out if those transfers were made by whales and what kinds of assets they were moving. If you’re not able to do all of that, then at least guesstimate what kind of impact certain big moves by certain big players might have on cryptocurrency prices.
Monitoring Whale Transactions
Watching the transaction hashes and wallet tags of cryptocurrency whales is essential for anyone wanting to keep tabs on that sort of thing. When you watch what coins are being moved and to which exchanges, you start to get a sense of what future price movements might look like (especially when you pair this intel with some good old-fashioned TA or fundamental analysis). And if you really want to have at it, you can also try to dissect what kind of message a particular whale’s actions might be sending to other market participants.
For the tokens mentioned above, the significant move of supply to exchanges indicates that there may be a change in sentiment or strategy among holders of these tokens. Transfers to exchanges are generally seen as a precursor to sales. And unless routine portfolio adjustments or internal strategy shifts are what this represents, then it seems participants are readying themselves for some sort of event with these assets. Of course, this could apply to anything from a big price drop to a big price increase.
Conclusion: Keep Watching the Whale Movements
Sending large amounts of $EURI, $USDP, $NEIRO, and $MOCA to exchanges offers key insights into the crypto market for those attempting to figure it all out. These would-be price movers are surely issuing a not-to-be-ignored warning. It might be possible, analysis-wise, to obfuscate the actual combined reason for this uptick in whale activity across the four assets. But the why of it—is it positive market sentiment or negative—is what really moves the needle.
As always, traders and investors in cryptocurrency need to maintain vigilance and keep a close watch on the movements of the whales. These large players can often provide the first signals of a major trend shift. And in the cryptocurrency market—a fully 24/7 operation that can swing several percentage points in the time it takes an investor to watch a 3-minute YouTube video—being first is often the same as being best.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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