CaptainAltcoin’s editorial team has noted many times in the past that tracking whale movements could be crucial in saving your portfolio from further downside risk.
SpotOnChain is one of the best on-chain analytic platforms in crypto right now and they just released their newest report about one whale who is massively offloading his holdings.
Major DeFi Token Selloff by Smart Whale
A significant whale wallet, identified as “0x257,” has just moved nearly $8 million worth of assets to Binance. The transferred tokens include some of the biggest names in DeFi. The whale deposited 13,816 AAVE tokens worth $3.54 million, securing a profit of $2.56 million. They also moved 161,463 LINK tokens valued at $3.13 million, booking a $2.13 million profit. Additionally, 85,529 UNI tokens worth $758,000 and 289,399 EIGEN tokens valued at $531,000 were transferred.
More whales offloaded #DeFi tokens!
— Spot On Chain (@spotonchain) February 5, 2025
8 hours ago, smart whale “0x257” deposited $7.96M worth of 4 assets, including 3 major #DeFi tokens, to #Binance:
• 13,816 $AAVE ($3.54M) → +$2.56M profit (+255%)
• 161,463 $LINK ($3.13M) → +$2.13M profit (+213%)
• 85,529 $UNI ($758K)… https://t.co/xLQj0rOxSF pic.twitter.com/3v0vvH7YRo
What makes this movement particularly noteworthy is that this whale had been holding AAVE, LINK, and UNI since mid-2022. Their EIGEN tokens were obtained through ETH staking on EigenLayer.
Adding to the bearish pressure, crypto analyst Ali Martinez reported that whales have disposed of 4.13 million Chainlink tokens in the past 48 hours.
Whales have offloaded 4.13 million #Chainlink $LINK in the last 48 hours! pic.twitter.com/B0ELv4wEAb
— Ali (@ali_charts) February 5, 2025
The impact on prices has been significant. LINK has experienced a 3% drop today and a substantial 16.6% decline over the past week. Uniswap’s situation is even more concerning, with a 21% plunge in the last 7 days. AAVE has shown some resilience, actually gaining 5% today, though still down 9% over the week – a relatively modest decline compared to most altcoins.
This whale activity demands attention, especially following the recent market crash that resulted in over $2.3 billion in liquidations. When large holders start moving significant portions of their holdings to exchanges, it often signals potential selling pressure. This pattern becomes particularly crucial during periods of market uncertainty, as these movements can trigger further downside momentum.
Read also: Crypto Veteran Warns Cardano Holders: Whales Massively Offloading ADA!
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