Crypto.com’s Cronos, Bitget Token, and Circle’s USDC have experienced a significant uptick in whale activity over the last week, despite observed declines in the prices of these exchange tokens, each down by over 7%.
Recent on-chain analysis from Santiment Feed highlights that both Cronos and Bitget Token have seen remarkable week-on-week increases in whale transactions among tokens with market capitalizations exceeding $500 million. Specifically, whale transactions on Cronos surged by over 1,100% compared to the previous week, while Bitget Token’s activity rose by an impressive 800%.
In addition, the activity surrounding USDC on the Optimism network saw a more than fivefold increase during the same timeframe, marking it as one of the most transferred stablecoins, even as it maintained its peg to $1.
Such trends in whale activity may forecast a potential rise in exchange trading volumes. Santiment asserts that increases in whale transfers associated with crypto exchanges typically precede heightened volatility and shifts in liquidity. Historical patterns have shown that spikes in whale transactions on Cronos have aligned with rising on-chain transactions and trading volumes at Crypto.com.
The data reveals that whale transactions for Cronos (CRO) jumped by 1,111% in the past week. Despite this surge, the 30-day whale activity had actually dropped by 75%, with CRO’s price dipping 0.5% and daily trading volume falling by over 25%. Conversely, whale transactions for Bitget Token (BGB) increased by 800%, and while the token experienced a slight price uptick of about 0.25%, its trading volume climbed significantly by 75%. However, on a 30-day scale, BGB whale activity was still down approximately 16%, suggesting that the recent spikes were part of a localized trend.
At the time of this report, BGB was valued at $3.65, backed by a 24-hour trading volume of $110 million. Santiment commented on the implications of these movements, stating, “This is a strong sign that whales are repositioning inside ecosystems. Both CRO and BGB whale spikes often precede trading volume jumps, indicating both platforms are likely experiencing above-normal usage.”
Meanwhile, USD Coin transactions on the Optimism blockchain rose by about 528% compared to the previous week and 94% on a 30-day basis, even as daily trading volumes saw a downturn of nearly 22%. Activity for Wrapped Ether on the same network surged by 710% week over week, alongside a substantial rebound of over 132% in 30-day whale activities.
This uptick in both altcoin and stablecoin whale activities follows a broader trend of Bitcoin whales accumulating investments since the start of the year. Data from CryptoQuant reveals that large holders have been purchasing Bitcoin, even as its price has seen fluctuations from a yearly high of $97,000 to levels below $90,000. From the beginning of January to late 2025, Bitcoin inflows to accumulation addresses mostly remained high, with notable spikes occurring mid-year.
Additionally, October and November saw further acceleration in inflows to accumulation addresses, with daily metrics reaching as high as 40,000 BTC last week. Also, the number of wallets held by short-term holders—defined as those under five months old with more than 1,000 BTC—has steadily increased into early 2025, demonstrating ongoing interest despite broader market volatility.
The latest movements in whale transactions hint at a dynamic and shifting landscape within cryptocurrency markets, suggesting increased activity could herald new trading opportunities on exchange platforms.
