Humanity Absorbs Whale Transfer as Derivatives Traders Favor Further Upside

A significant transfer of $4.24 million worth of Humanity (H) tokens to Bybit has raised concerns about potential selling pressure, but so far, buyers have absorbed the move without losing confidence.

The transaction, which took place as H rallied over 10% in the past 24 hours, has revived worries that additional supply could enter the market. However, price held firm instead of breaking down immediately, suggesting that buyers are still defending their positions.

Binance's top traders have maintained a bullish stance, with a long/short ratio of 1.41 and 58.49% of top accounts holding long positions compared to 41.51% short. This positioning reflects continued expectations of higher prices rather than defensive hedging.