Ethereum and Altcoins See Massive Whale Sell-Offs

Beyond ETH, several other large-cap altcoins became targets of whale sell-offs over the weekend. HYPE from Hyperliquid also faced selling pressure. One whale made over $38 million in profit from HYPE, selling 131,137 HYPE.

Many whales continuously depositing altcoins to exchanges may signal strong selling. Another whale sent 1 trillion PEPE ($11.65 million) to Binance. Four addresses belonging to the same whale deposited 356,000 LINK to Binance, with an estimated ROI of 97.3%.

Additionally, another whale withdrew $7.52 million worth of SOL from staking and sent most of it to Binance.

These actions could be significant signals. Based on market experience, whale sell-offs often align with price peaks, as they lock in profits after a growth phase. However, they could also reflect concerns about an upcoming major correction. Compared to historical data, similar sell-offs in the past often led to sharp volatility but also opened buying opportunities at lower support levels.

Currently, with whale transactions totaling tens of millions of dollars, investors should cautiously monitor on-chain metrics and trading volumes. If the sell-off trend continues, the market may face short-term downward pressure. Conversely, if new demand emerges, prices could recover.