Crypto Assets See Sudden Surge in Large-Size Transactions

A sudden surge in large-size transactions has rattled various crypto assets, according to an update from Santiment. The analytics platform reported that Humanity Protocol ($H) saw a 500% spike in $100K+ whale transactions over the past week, while Wrapped Bitcoin on Optimism ($WBTC) recorded a 440% jump and Maker ($MKR) a 400% surge.

The list of top ten assets includes TrueUSD ($TUSD) on Ethereum with a 400% rise, along with SPX, SwissBorg, Rocket Pool ETH, Worldcoin on Optimism, Cronos, and Ethereum Name Service. Santiment highlighted that non-stablecoin assets are the most likely candidates for sharp price volatility.

The surge in whale transactions often precedes outsized price swings, either accumulation or distribution. In the case of WBTC on Optimism, the jump may signal liquidity migration to layer 2 venues where DeFi yields are more attractive.