Large On-Chain Transactions Surge Across Cryptocurrency Assets

A surge in large on-chain transactions has been observed across various cryptocurrency assets, according to an update from analytics platform Santiment. The most notable increase was seen in Humanity Protocol, which experienced a 500% jump in transfers worth $100,000 or more over the past week.

This placed the identity-focused project at the top of a list that also included Wrapped Bitcoin on Optimism with a 440% jump and Maker's governance token MKR with a 400% increase. Other assets rounding out the top ten included TrueUSD on Ethereum, which also recorded a 400% rise.

The surge in large transactions is notable for its diversity, affecting stablecoins, wrapped Bitcoin, liquid staking derivatives, layer-2 native tokens, and long-standing DeFi governance tokens. Santiment highlighted that non-stablecoin assets are the most likely candidates for sharp price volatility.