Whales have significantly ramped up activity across several crypto projects, according to analytics platform Santiment.
Experts report that Ethereum Name Service (ENS), Compound (COMP), and Virtuals Protocol (VIRTUAL) led the pack, with transactions exceeding $100,000 increasing by over 200% in a single week. Analysts note that such whale behavior may signal a trend reversal and heightened volatility.
ENS Sees Transaction Surge of 313,46%
Leading the list is Ethereum Name Service (ENS). Over the past week, whale transactions surged by 313,46%. Meanwhile, ENS’s market price dropped by 3,86%, falling to $22.46, while its market capitalization reached $819.29 million.
Compound and Virtuals Also Lead in Activity
Compound (COMP), a decentralized lending protocol, took second place with a 203,81% increase in whale transactions. The token’s price sits at $57.81 after a 1,87% daily drop. Its market cap is $525.27 million.
Virtuals Protocol (VIRTUAL), focused on the AI sector, came in third. The number of large transactions increased by 202,13%, despite a 10,72% decline in price over the last 24 hours, bringing the token to $2.03. The project’s total market cap stands at $1.32 billion.
Stablecoins and Cross-Chain Projects
Coming in fourth and fifth were two stablecoins — Dai (on BNB Chain) and USDC (on Arbitrum) — both showing a 200% increase in transaction volume. Dai’s market cap now exceeds $5.36 billion, while USDC’s stands at $61.16 billion. This level of activity may indicate liquidity shifts and preparations for major market moves.
Other projects in the top rankings include Mantle (MNT) with a 175% increase, OKB (OKB) up 166,67%, and USDC on Optimism rising by 100%.
Polygon, Memecoins, and Market Impact
Wrapped ETH (WETH) on Polygon saw an 82,26% uptick in transaction count, reaching a price of $2,758.25. Also making the top 10 was the memecoin SPX6900 (SPX), where large transaction volume grew by 76,54%.
Why It Matters
An uptick in whale activity, particularly in non-stablecoin projects, often signals an impending market shift: either accumulation ahead of a rally or distribution ahead of a drop. Such movements are frequently followed by increased volatility, especially in less liquid assets. For traders and institutions, this could be a cue to reassess positions or closely monitor the listed assets.
