CryptoQuant: Whale Activity in LINK Increases Amid Altcoin Weakness

While it is not immune to the selling pressure, its decline has been far less severe than what altcoins have experienced. Ethena hit a new all-time low recently, last trading around $0.09. Arbitrum and SUI are both sitting at levels where a further drop would push them into all-time low territory.

Other tokens include examples from previous hype cycles, such as the meme token CHILLGUY, the AI agent token ZEREBRO, and even the gaming token MAVIA. Chain Opera AI (COAI) is the most longed token according to Alphractal. Over 83% of COAI traders took up long positions, with most of the open interest on Binance. Overall open interest on COAI was just $6.3M, as with other tokens, expecting a breakout.

Despite the broader weakness, however, select sectors and tokens have continued to outperform lately – A sign that they may attract disproportionate capital if market conditions stabilize again. This downturn is primarily a product of broader macro pressures, including persistent inflation concerns tied to oil markets and escalating geopolitical tensions across West Asia. Algorand, Stable and Morpho have taken the top spots, notching 23%, 17% and 13% gains over the past 24 hours respectively, according to data from price aggregator CoinGecko. Other tokens including, Provenance Blockchain, Jupiter and Render have achieved gains of over 5% in the past day.

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The scale of the drawdown is now bigger than what was seen during the last bear market, raising new concerns about liquidity and demand across the sector. A breakout above this level, followed by sustained upward movement, would confirm building demand. Such a shift could drive broader market recovery and amplify momentum in the market’s best performers this quarter. AMBCrypto further grouped these assets by three-month performance to identify segments likely to attract capital. Consider this – The 90-day Altcoin Season Index, which tracks performance outside Bitcoin, has held relatively firm despite the broader market’s decline. That gap between Bitcoin and the broader crypto market is a defining feature of this particular downturn.

• Since mid-February, it has climbed from around 2,000 LINK to nearly 2,600 LINK per day.
• The most shorted token is BNX, followed by EDGE, NIGHT, OPN, ESP, BERA, and others.
• The total cryptocurrency market capitalization has grown 2.7% in the past 24 hours to hit $2.44 trillion, with over $326 million in positions liquidated according to CoinGlass data.

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More than 40% of altcoins are trading at or near their all-time lows as of March 30, 2026, according to data shared by analyst Darkfost. According to a recent CryptoQuant report, nearly 40% of altcoins have either reached their all-time lows or are now trading within close range of those levels. The crypto market has extended its decline over the past six months, with little evidence of a sustained rebound on the charts. With total market valuation down about 45% from its peak above $4.27 trillion, a growing number of altcoins are now sitting near their historical lows. With that much supply chasing a limited pool of investor money, most of these assets simply cannot attract enough buyers to hold their value.

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Volatility like that happens around the “turn of a new month or quarter, when portfolios get rebalanced, and traders put risk back on,” Cai explained. Analysts looked at the top 10 largest transactions withdrawing the asset from exchanges. According to their data, in several instances, daily peaks exceeded 8,000 LINK withdrawn from Binance as part of the largest operations. Copyright © 2026 FactSet Research Systems Inc.Copyright © 2026, American Bankers Association.

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According to data shared around analyst Darkfost, the share of altcoins near their historical floors exceeded 40% in March 2026. This reflects exceptional pressure on the most speculative assets in the sector. The total cryptocurrency market capitalization has grown 2.7% in the past 24 hours to hit $2.44 trillion, with over $326 million in positions liquidated according to CoinGlass data. That figure surpasses the previous bear market peak of around 38%, making this cycle the worst on record for altcoin performance. Altcoins still have under 20% market cap dominance, as the market shifted to BTC. Some assets are viewed with caution, as the speculative trading leads to elevated volatility, with the potential for insider price moves or deliberate pumps.

That number alone may explain a lot of what is happening to prices of altcoins right now. The most shorted token is BNX, followed by EDGE, NIGHT, OPN, ESP, BERA, and others. Those tokens belong to almost inactive projects and are down more than 99% from their peak, with illiquid trading. Some assets invite concentrated short positions, while others are longed, in expectation of a breakout. Wayne is a dynamic part-time trader with an impressive eye for detail. His passion for understanding financial systems has led to an intriguing interest in blockchain technology, and he enjoys exploring and writing about cryptocurrencies.

Possessing a keen intellect and diligent work ethic, he stays up-to-date on the latest industry trends, regularly sharing his insights in articles and professional presentations. AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

For him, the old scenario where money flowed from Bitcoin to Ethereum then broadly poured into altcoins no longer works as before. AMBCrypto was founded in 2018 with a mission to simplify and bring the latest blockchain and cryptocurrency news to our readers. We have strovemont capital review quickly grown into the digital news source for an emerging generation of cryptocurrency enthusiasts, reaching more than a million readers on a monthly basis, across the globe. At the time of writing, the accumulation/distribution (A/D) indicator suggested that broad-based buying activity was underway, with trading volume hitting approximately 4.5 billion tokens. Artemis year-to-date data from January through March revealed that bridge tokens, AI-related assets, utilities and services, social tokens, and exchange tokens have been among the least affected categories.