Six Altcoins at Risk as Exchange Deposits Surge – Is a Sell-Off Coming?

Recent data signals trouble for six altcoins as a surge in exchange deposits raises fears of potential sell-offs.

Tokens such as WLD, MOVE, MKR, stETH, OM, and RSR have seen significant transfers to major exchanges, sparking concerns about price drops amid shifting market sentiment.

A notable increase in supply on trading platforms suggests that investors might be looking to offload their holdings. Reports indicate substantial portions of these altcoins were deposited on Bybit, Binance, Coinbase, and KuCoin, which could lead to downward pressure on prices. Historically, rising exchange balances have often preceded price corrections as traders prepare to sell.

Despite the heightened risk, price action remains mixed. While WLD, OM, stETH, and RSR posted modest gains, MOVE and MKR experienced slight declines. Investors remain cautious as they assess whether these assets can sustain their recent momentum or succumb to selling pressure.

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The broader crypto market has shown signs of recovery following the Federal Reserve’s decision to keep interest rates steady. Bitcoin has stabilized near $105K, and altcoins have followed a similar upward trend. However, with large amounts of these six tokens hitting exchanges, traders are watching closely for signs of a market shift.

Meanwhile, fresh speculation emerged after reports that Donald Trump’s World Liberty acquired 2.4 million MOVE tokens. Whether this signals confidence in the asset or merely adds to the volatility remains to be seen.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.