Graph below shows the daily $ANC claimed as borrowing rewards and it's USD worth. On 25th January, 4.447M of $ANC (almost 7M USD) tokens claimed, which is highest in past 30 days. Let's look at from this 4.4M $ANC claimed on that day, how much has been sold.

On 25th Jan, there are 4.4M $ANC claimed by 1340 different addresses with 1 single address claimed 4,319,079 $ANC which is 97% of total claimed that day. This whale shoot up the average claim to 3100 $ANC per transaction

Graph below shows swap activities by $ANC claimer on 25th Jan. We can see that most swap activities occurs on Astroport for UST, and some for Terraswap ANC-UST. Total sale of $ANC by claimers on 25th was 8.3M $ANC token which is almost double the claim amount. So, we can say that sell pressure for $ANC was quite high.

Let's take a look at how much of the $ANC claimed on 25th goes to Gov Staking. It seems daily staking number quite high. This means that claimers on 25th either claim more later on or they staked $ANC that they bought especially with Anchor V2 coming. Total staked $ANC after 7 days was 16M which is quadraple the claim amount.

In conclusion, $ANC tokens is has both selling pressure and buying pressure. However, more $ANC was staked rather than sold 7 days after (in this case for 25th January $ANC claim). Total staked was 16M while sold is at 8M 7 days after 4.4M $ANC claim.