3 altcoins see a decline in exchange reserves in the last week of August

Investors accumulated a strong altcoins in the final week of August. They withdraw their assets from the exchange, resulting in a significant drop in reserves.

As the Altcoin season becomes more selective, Exchange Reserve data could provide useful insights into the restructuring portfolio of investors in the final quarter.

1. Chain Link (Link)

Santimento data shows ChainLink (Link) Exchange Reserves fell to its highest low in one year in the last week of August.

Approximately 186.6 million links remain in the exchange, which fell from 222 million in July. This means that over 25 million links have been withdrawn in more than a month.

The launch of the Chain Link Reserve in early August boosted investors’ sentiment. As of August 28th, ChainLink Reserve had held 193,076 Link Tokens.

By the end of August, ChainLink had announced a partnership with the US Department of Commerce. This will bring in macroeconomic data such as GDP and PCE indexes, further strengthening the accumulation momentum.

Recent charts show significant changes over the past two months. Previously, exchange link reserves increased with price increases, indicating sales pressure. However, in recent weeks, the price of the link has risen, but reserves have declined, indicating continued optimism.

2. Numeraire (NMR)

NMR skyrocketed 120% in the last week of August, with 24-hour trading volumes ranging from $460 million to over $1 billion, according to CoinMarketCap data. This sharp rise has renewed investor interest.

Santiment data shows that NMR exchange reserves have been steadily increasing for years, creating sales pressure, with prices down from over $70 to under $7.

However, NMR exchange reserves had fallen to 1.61 million by the last week of August. That means around 350,000 tokens were withdrawn earlier this year.

The reduction was not large, but marked an important turning point that could indicate accumulation from outside the exchange.

In the same week, Numeraire announced that JPMorgan, one of the largest allocators in the world, one of its quantitative strategies, has committed to fund capacity of $500 million. The announcement may have revived positive sentiment.

Cookie.Fun data confirmed a dramatic surge in Mindshare and emotions around NMR.

“JP Morgan has committed 5 billion to Numerai. Mindshare and Sentiment jumped to rising levels near the flatline after the news broke, showing an increase in influence on the Wall Street crypto market, with $NMR following over 160%?” Cookie Dao said.

3. Toncoin (Ton)

According to Santimento Data, Toncoin (Ton) exchange reserves fell to 2.96 million in late August, at the lowest level in three months. This came after a decline from 3.2 million just a week ago.

Despite the price of tons being around $3 for most of the year, this extra-exchange accumulation could indicate the onset of a new phase.

The reserve decline coincides with verb technology (NASDAQ: verb), and has announced the TON financial strategy with the aim of owning more than 5% of the cyclical supply of Toncoin. The company has completed a $558 million private placement of more than 110 institutional and crypto investors. Using most of the revenues, Ton was purchased as a major Treasury reserve asset.

Additionally, Robinhood listed Toncoin in the last week of August, opening its assets to fresh US investor capital.

“Toncoin has just been listed on Robinhood. That’s not surprising. It has 36.2 million new users. Ton_blockchain’s monthly active wallet has skyrocketed to 12.4 million. – said Mario Nawfal, founder of IBC Group.

The decline in exchange reserves for the three altcoins mentioned above reflects the impact of US financial institutions and regulatory authorities. It also suggests that actual strength projects are likely to enter the mainstream through partnerships with government agencies and major financial institutions.