2026-01-08 16:28:12

As a tracker who habitually speaks through on-chain data, I recently focused on Walrus's token holder addresses and discovered some interesting details.

First, there is a large-scale outflow from exchanges. On the surface, the market appears calm, but tokens are being rapidly withdrawn to cold wallets. This is not typical retail behavior. It indicates that a group of investors is quietly accumulating, transferring chips from exchanges for long-term holding.

Second, the concentration among large holders is increasing. The proportion of holdings among the top 100 addresses has grown by 3 percentage points over the past month. In this low-volatility sideways market, this is a classic sign of accumulation—big players are gradually taking chips away from retail investors.

Another detail that is easily overlooked: the number of staking nodes is steadily increasing. Each additional node means another batch of tokens is locked into the validation system, further reducing circulating supply.

Putting these clues together, the conclusion is clear—the market is brewing a supply crisis, but most people can't see it. On the surface, everything seems calm, but beneath the water, a fierce battle for chips is already underway.

Why haven't the major players started to push the price up? Because they haven't taken enough yet. Once the concentration of on-chain chips reaches a critical point, a supply shock will instantly trigger a price surge. The data is right here—whether you believe it or not depends on your own judgment.

WAL0,2%

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DegenWhisperer

· 01-11 07:12

Cold wallets are rapidly accumulating, and staking nodes are surging. This is essentially quietly absorbing chips.

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ImpermanentPhilosopher

· 01-10 19:34

Hmm, the details are indeed solid, but how long can the main force keep eating up the positions in this wave? Wait, where is your data from? Is it real? Cold wallet outflows combined with an increase in nodes—this logic makes me want to hear you continue to elaborate. A 3% increase in large holder concentration doesn't sound like much; could it just be normal fluctuation? Is something really brewing in this wave, or is it just another story of licking the order book?

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pvt_key_collector

· 01-10 05:35

Cold wallet significantly outflows while nodes increase. This combination really has some substance; big players are silently accumulating chips.

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DegenDreamer

· 01-09 08:56

Exchanges are experiencing large-scale withdrawals, which is indeed worth paying attention to. Cold wallets are accumulating, and the concentration of chips is rising again. It looks like someone is quietly placing bets. Staking nodes are also increasing, and the circulating supply is being compressed—I've seen this pattern quite a few times. However, if you ask me, this kind of "about to explode" hype can be heard every month, and when it actually happens, no one usually predicts it. The data looks good, but the key is whether it can really pick up afterward.

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PancakeFlippa

· 01-08 16:58

Wait, is the exchange outflow really this intense? I need to verify the on-chain data myself... or else I'll get cut again.

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DataBartender

· 01-08 16:55

I also noticed the large-scale outflow from exchanges, which is indeed a bit abnormal. However, whether the market will rally depends on when the main players get tired of holding back. --- Cold wallets accumulating, large holders concentrating, nodes locking... The on-paper data looks good, but history has shown that these signals often lead to a reversal. --- Supply crisis? Let's wait and see. I've heard similar arguments too many times. --- It's interesting to say that an increase in staked nodes indicates a buy-up. The circulating supply is really being compressed, but I don't know how long this can last. --- Wake up. A 3 percentage point increase in the top 100 addresses' concentration is called accumulation? Come on, retail investors have been eaten for so many years, and I haven't seen many real rallies. --- I just want to ask, with such obvious data, why are the main players still hesitating? Could it be that these folks are also waiting for something? --- Surface calm, underwater fierce battle... Old tricks. They say this every time, and then it just moves sideways until a sudden death. --- An increase in the number of nodes ≠ token locking. That logic is a bit rushed. Understand the actual staking mechanism before jumping to conclusions.

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ChainMelonWatcher

· 01-08 16:54

Exchanges are withdrawing funds so aggressively, but the big players are still slowly accumulating. Just waiting.

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StakeHouseDirector

· 01-08 16:42

The details of large-scale outflows from exchanges are truly remarkable; this is the silent declaration of the major players. I just want to know how much longer I have to wait before it starts. Nodes are locking tokens, chips are concentrated, and the underwater game has already begun.

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TokenDustCollector

· 01-08 16:36

Cold wallets are aggressively accumulating, while the main players are quietly hoarding. Waiting for that moment to trigger the explosion.

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