A massive transfer of 67.08 million Humanity (H) tokens, valued at roughly $4.24 million, landed on Bybit, stirring talk among traders about whether this whale move might trigger a sell-off. Instead of tumbling, Humanity held its ground, shrugging off the large influx and maintaining a rally of over 10% in 24 hours.
Such a big deposit to a centralized exchange usually signals potential selling pressure ahead. Traders had their eyes peeled as Humanity clawed back from recent lows, wary that the fresh supply could disrupt the uptrend. Yet the price resilience suggests buyers absorbed the additional tokens without panic.
Traders’ confidence defies the whale transfer
Binance’s top traders are still backing longs, showing faith in continued upside despite the sizable transfer. The Long/Short Ratio among top Binance accounts sits at 1.41, with nearly 59% favoring long positions. This leans more toward bullish conviction rather than defensive hedging. The market isn’t overcrowded on the long side either, leaving room for more buyers if momentum builds.
This stance contrasts fears tied to the Bybit deposit. Experienced traders appear to view the whale move as manageable, not a signal for a sharp downturn. Futures funding rates reinforce this optimism Humanity’s open interest-weighted funding rate hovers at a positive 0.0191%, indicating longs pay a premium to remain exposed. The steady yet moderate funding suggests a balanced market without excessive use risks.
The sustained buying interest and stable funding landscape hint that professional traders expect new support levels to hold before any sizable correction hits.
This material is informational and not financial advice.
