12 Altcoins Flash Accumulation Signals as 6 Others See Exchange Inflows

CN
3 hours ago


  • Key Takeaways:
    • Cryptoquant data showed select altcoins recording stronger outflows than inflows, suggesting accumulation activity.
    • Meanwhile, major cryptocurrencies including ETH and LINK recorded larger deposit activity.
    • The data showed contrasting flow patterns between select altcoins and several larger cryptocurrencies.
  • An analysis shared by Cryptoquant on June 23 showed a split in positioning on Gate crypto exchange, with select altcoins recording stronger outflows than inflows while other cryptocurrencies attracted increased deposits. The findings were based on the Gate Netflow Heatmap, which tracks inflows and outflows across multiple crypto assets.

    The data showed a group of tokens recording stronger outflows than inflows, a pattern often associated with accumulation activity.

    The analyst explained:

    “Some altcoins are leaving Gate more than others. This may be an early sign of accumulation.”

    The analysis identified several assets showing stronger outflows than inflows, including voyager token (VGX), amp (AMP), 0x (ZRX), the sandbox (SAND), quant (QNT), yearn.finance (YFI), YFF, chiliz (CHZ), aavegotchi (GHST), decentraland (MANA), jasmycoin (JASMY), and compound (COMP). Exchange withdrawals can indicate that investors are moving holdings into private wallets rather than keeping them available for immediate trading.

    Investors may be prioritizing these assets for accumulation and future speculation, according to the analysis. Those positions were reflected in the stronger outflow activity observed on Gate.

    12 Altcoins Flash Accumulation Signals as 6 Others See Exchange Inflows

    Not all assets followed the same pattern. Several prominent cryptocurrencies registered larger inflows than outflows during the period examined, suggesting a different set of market behaviors among traders.

    Tokens showing stronger inflows into Gate included 1INCH, chainlink (LINK), ether ( ETH), uniswap (UNI), adventure gold (AGLD), and artificial superintelligence alliance (FET), according to the analysis. Deposits to exchanges can reflect a range of objectives, including portfolio rebalancing, liquidity needs, or preparation for potential sales.

    The analyst noted:

    “This may indicate that investors are becoming more cautious given the current crypto market conditions, possibly sending these assets to Gate with the intention of selling.”

    The contrasting flow trends underscored how capital is moving unevenly across the digital asset market. While some investors appeared to be withdrawing exposure from exchanges in selected altcoins, others were increasing exchange balances in major tokens, creating a split picture of market positioning across Gate’s listed assets.

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