According to the latest analysis by cryptocurrency analytics firm Santiment, a shift in whale activity has been seen in three different altcoins.
Santiment analysts noted that crypto whales were withdrawing their tokens from centralized exchanges and transferring them to cold wallets for the altcoins Injective (INJ), Render (RNDR), and Polygon (MATIC). Interestingly, some anomalies were seen in the prices of these three altcoins after these whale moves.
In INJ, whales made the largest transfer from exchanges to cold wallets on August 21, and transfers have continued gradually since then.
On the RNDR side, whales withdrew their cryptocurrencies from exchanges on July 21 and there has been a stable outlook since then.
On the MATIC side, crypto whales made a more recent move. Whales started transferring their tokens to cold wallets on September 9. With the rebranding of the token as POL, these movements of the whales continue.
*This is not investment advice.
