By the third week of August, various Altcoins had a sharp fall in exchange reserves. This trend reflects the growing demand for accumulation and Off-Exchange possession. The shift is especially remarkable because the so-called Altcoin season has become increasingly selective.
Which tokens see this increase in accumulation and which factors stimulate investor optimism?
Data from Santiment shows that the exchange rate reserves from Ethena (ENA) fell from 1.3 billion to 1.15 billion in the third week of August. In other words, 150 million ENA left centralized fairs.
This happened while the price of ENA rose by 30% in August and climbed from $ 0.51 to $ 0.65.
Ena delivery on exchanges. Source: Santiment.The reserve drop coincided with the Ethena Foundation, which announced a return program of $ 260 million. The plan assigns around $ 5 million per day to buy back ENA from the market.
Tokenomist estimates that the return could remove 3.48% of the circulating power supply. This absorption of sales pressure increases the trust of investors in the long term.
Moreover, Ethena crossed important milestones in August. The turnover surpassed $ 500 million, while Usde Supply reached a record high of $ 11.7 billion.
Together these drivers have fueled the ENA accumulation and the exchange reserve decreases.
Bio Protocol, a leading project in the Desci sector, delivered an exceptional performance in August with a profit of more than 265%.
In addition to the price rally, the exchange reserves fell sharply. From the beginning of August to the present, the reserves decreased from 380 million to 294 million bio – a decrease of more than 22%.
The third week of August saw the most dramatic movement. Investors withdrew 42 million bio in just one week and this year pushed the exchange reserves to their lowest level.
BIO offering for trade fairs. Source: Santiment.Different catalysts explain this wave of accumulation. Bio launched a postponement program at the beginning of August that attracted more than 25 million tokens. Moreover, Arthur Hayes has invested $ 1 million in Bio this week, creating the market attention.
Bio Protocol has also rolled out a new way to reach new investors. Users are asked to discuss the project on social media to earn BIXP, which gives them access to the first BioGent sales.
Combined these factors to increase visibility, attract new investors and to accelerate accumulation.
3. API3
API3, an Oracle-oriented project, remember the investor interest in August and sent its price more than 130%. At the same time, the exchange reserves fell at their lowest point this year.
The third week of August marked a turning point. More than 9 million API3 were withdrawn from stock markets, reducing the exchange facility to only 17.19 million.
API3 delivery at fairs. Source: Santiment.The catalyst was the list of API3 from Upbit. According to the Beincrypto report, the price of the token rose more than 120%immediately after the offer.
The focus of investors on the Oracle sector also increased due to the Rally of Chainlink (Link ($ 24.33)). The strong performance of Link in the past month has been transferred to related projects. Data from Artemis confirmed that Oracle was the best -performing sector in the market in August.
The increase in API3 accumulation has steadily kept its price trade up above $ 1.50.
These three altcoins mark various drivers behind the selective Altcoin rally of Augustus. Although a wide altcoin season still has to arise, projects with unique catalysts or now it is about returning programs, placing stimuli or an exchange list-the attention and capital of investors.
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