Why Prices Could Feel Pressure: 3 Altcoins With Rising Exchange Supply
Rising exchange supply for Chainlink (LINK), XRP, and Aster (ASTER) suggests potential selling pressure following a major altcoin market capitalization drop.Summary
Following an explosive altcoin rally that saw the TOTAL2 market cap hit an all-time high, over $300 billion in value was wiped out in the first three weeks of October, leading to profit-taking pressure reflected in rising exchange supplies for several major altcoins.
Chainlink (LINK) saw its exchange supply increase from 171 million to 182 million tokens despite positive news like S&P Global's initiative, contributing to a price drop of over 27% this month.
XRP reserves on Upbit surged to over 6.1 billion tokens, their highest level since 2025, indicating potential selling activity from Asian investors that could trigger broader sell-offs, as on-chain data also shows whales reducing exposure.
Lastly, Aster (ASTER) experienced a sharp 30% increase in exchange supply, climbing to over 875 million tokens, coinciding with a 50% price drop, which aligns with a reported 90% fall in its DEX perpetual trading volume, suggesting a cooling-off period for related coins.
(Source：BeInCrypto)