Over the past 12 hours, on-chain whales made 7 large transfers, each worth more than $50 million, totaling $632 million.
The largest was $130 million in $SOL , transferred from an unknown wallet to Coinbase Institutional. The amount flowing into exchanges is clearly greater than the amount flowing out, so selling pressure is building.
The other two transfers worth over $100 million were both in $XRP , valued at $108 million and $107 million. They moved between wallets and didn’t go to an exchange.
BTC is now at $62,906, down 7.85%. The Fear Index is at 10, indicating extreme fear. Sending this much to exchanges suggests short-term selling pressure is building, so I’d rather wait and watch than chase the price.
$BNB
The largest was $130 million in $SOL , transferred from an unknown wallet to Coinbase Institutional. The amount flowing into exchanges is clearly greater than the amount flowing out, so selling pressure is building.
The other two transfers worth over $100 million were both in $XRP , valued at $108 million and $107 million. They moved between wallets and didn’t go to an exchange.
BTC is now at $62,906, down 7.85%. The Fear Index is at 10, indicating extreme fear. Sending this much to exchanges suggests short-term selling pressure is building, so I’d rather wait and watch than chase the price.
$BNB
