Tag: CRYPTO WHALES

Social Discussion on Ethereum Hit a 2-Month High, Active Addresses Scale the Heights

by Blockchain News

Ethereum’s social volume and dominance reached levels last seen in February based on significant discussions about the second-largest cryptocurrency.

Crypto analytic firm Santiment explained:

“Ethereum’s address activity really picked up, with 592k addresses being the highest number of unique interactions in over a month. Meanwhile, social discussion for ETH has hit its highest levels in over two months.”

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Source: Santiment

Therefore, ETH active addresses have been soaring, showing heightened transactions.

Revelations might have sparked the high social dominance levels experienced on the Ethereum network that the much-anticipated merge would not occur in June as planned. 

The merge will serve as the biggest software upgrade in the Ethereum ecosystem by shifting the current proof-of-work (PoW) framework to a more cost-effective and environmentally friendly proof-of-stake (PoS) consensus mechanism.

Therefore, it is expected to enhance Ethereum’s quest of being a deflationary asset, given that its value is anticipated to continue increasing over time based on slashed supply.

Ethereum whale addresses surge

Ethereum whales have been on a spending spree because they have increased their holdings by 4% since March. Market analyst Ali Martinez noted:

“The number of addresses with a balance greater than 10K ETH has increased by over 4% since Mar 14. But in the past few days, 13 whales holding over 10K ETH have joined the network. This may seem insignificant but each of these whales has bought over $30 million in Ethereum.”

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Source: Glassnode

Martinez had previously opined that the surge in Ethereum whales holding more than 10,000 ETH might prompt a new bull run based on past data. He stated:

“Ethereum price is correlated with the number of whales with over 10K ETH. When whales began accumulating in Sept 2020, ETH rose by 1,300%.”

Meanwhile, crypto markets have shown a strong correlation with equities. Santiment pointed out:

“A trend that may continue until the next FOMC meeting in May, crypto markets remain firmly entrenched in the same price patterns as the SP500 and equities markets. The Fed recently announced that a half point interest rate hike is likely.”

The Federal Open Market Committee (FOMC) is part of the Federal Reserve (Fed) that determines the monetary policy’s direction. 

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Ethereum Whales Continue Buying from Weak Hands, Ramping up their Position by 200,000 ETH

by Blockchain News

In the past few days, Ethereum (ETH) whales have been on a buying spree as their accumulation continues. 

Market insight provider Santiment confirmed:

“Whale addresses holding 10K or more ETH have added 200K ETH from weak hands since January 20, worth ~$497.2M.”

This huge accumulation has not been seen in the last two months, suggesting that whales are back to their buying game.

The crypto market has been dented by massive liquidations, which made Ethereum hit a 6-month low. As a result, the number of ETH addresses in profit reached a 5-month low, alluded to by crypto analytic firm Glassnode.

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Source: Glassnode

Nevertheless, developments like huge whale accumulation offer bullish sentiments. Ethereum was down by 2.32% in the last 24 hours to hit $2,435 during intraday trading, according to CoinMarketCap.

The second-largest cryptocurrency faces notable resistance at the $2,500 level, which it has to overcome for a rebound, according to crypto analyst Ali Martinez. 

On the other hand, significant support lies at the $2,200 zone because approximately 360,000 addresses hold 9.6 million ETH.

Options trader John Wick believes that Ethereum was consolidating a bottoming pattern attempting to break out. He stated:

“Ethereum showing the same bottoming pattern trying to break out of the resistance zone. Needs to see more upside from Bitcoin to breakout.”

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Source: TradingView

Market analysts aired similar sentiments under the pseudonym TheCryptoCactus that Ethereum’s journey towards $3,000 would be reached if resistance at the $2,850 level would be flipped to support.

“If you longed the bottom, it’s easy to hedge here. Need to get a valid S/R flip of $2850. Personally, would rather wait till we flip $3000 into support again and then just ape a huge position,” TheCryptoCactus pointed out. 

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Largest Ethereum Whales Pounce on Shiba Inu, Buy Over $88,000,000 Worth of SHIB in the Past Day

by Dailyhodl

The top 1000 richest Ethereum wallets are gobbling up the popular memecoin Shiba Inu (SHIB) at an alarming rate.

Those top Ethereum wallets purchased more than $88 million worth of SHIB over a 24-hour period, according to the whale-monitoring bot WhaleStats.

One address, the 262nd-largest Ethereum wallet, purchased more than $34 million worth of Shiba Inu during that 24-hour period.

Another whale, the 29th-largest Ethereum wallet, bought nearly $40 million worth of SHIB.

Shiba Inu is trading at $0.000021 at time of writing, down 25% from where it was priced a week ago. The 14th-largest crypto asset by market cap is also down nearly 45% in the past month.

SHIB is a meme token that aims to be an Ethereum-based alternative to Dogecoin (DOGE). The crypto asset can be used for payments at various retailers or on its decentralized exchange ShibaSwap for non-fungible token (NFT) purchases and staking.

In total, the top 1000 Ethereum wallets hold more than $1.155 billion in SHIB, representing 13.78% of their non-Ethereum (ETH) holdings, according to WhaleStats. That’s second only to FTX Token (FTT), which represents about 15.56% of the addresses’ non-ETH holdings.

FTT is the exchange token of FTX, a cryptocurrency derivatives trading platform for futures, leveraged tokens and over-the-counter trading.

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Largest Ethereum Whales Now Hold Over $80,000,000,000 Worth of ETH As Weak Hands Capitulate: Analytics Firm Santiment

by Dailyhodl

Crypto analytics firm Santiment says a diverging pattern indicates whales are accumulating massive amounts of Ethereum (ETH) while exchanges see their supply of the leading smart contract platform shrink.

The market insights agency tells its 122,600 Twitter followers that the ratio of Ethereum held by whales off of crypto exchanges compared to on exchanges is rising to all-time-high levels.

“The amount of Ethereum held by the top 10 NON-EXCHANGE whale addresses has now ballooned to 25.7 [million] ETH held.

Meanwhile, the top 10 EXCHANGE whale addresses continue falling, with only 3.57 [million] ETH. This ratio is the highest since the asset’s inception.”

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Source: Santiment/Twitter

Ethereum is currently priced at $3,245, meaning that the non-exchange whales hold more than $83.39 billion worth of ETH.

With $11.58 billion of ETH in their own bags, the exchanges hold less than 14% compared to the non-exchange whales.

Santiment next looks at the Bitcoin (BTC) chart and the prevalence of “bull market” versus “bear market” mentions across social media in order to gauge the overall crypto market pulse.

“Our social trends data confirms that the trading crowd feels very much as though crypto is in an official bear market.

Mid-May was the last time bearish sentiment was this prevalent, which is a very promising sign that weak hands are capitulating.”

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Source: Santiment/Twitter

Bitcoin last touched the $50,000 level back on December 27th, and even briefly dipped below $40,000 this past Sunday.

BTC is currently up 3.33% on the day and trading for $42,840.

The crypto insights firm says that whale transactions worth more than $100,000 have declined significantly for both BTC and ETH.

“Major whale transactions aren’t quite coming at the frequency they were in October or November.

Our metrics indicate that the BTC network is getting around 13k transactions per day that exceed $100k in value.

ETH’s network is seeing about 9k per day.”

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Source: Santiment/Twitter

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Whale Splurges $36,500,000 on Ethereum-Based Altcoin – Here’s What the Largest Crypto Investors on Earth Are Up To

by Dailyhodl

Some of the world’s largest Ethereum (ETH) whales are gobbling up hundreds of millions of dollars worth of altcoins as the digital assets industry experiences a widespread pullback.

According to whale-surveying robot WhaleStats, Ethereum whales are currently accumulating layer-2 ETH solution Polygon (MATIC), crypto exchange FTX Token (FTT), oracle network Chainlink (LINK), decentralized finance protocol Aave (AAVE), and non-fungible token marketplace Enjin Coin (ENJ).

The 557th-largest whale splurged just over $36.5 million on 1,049,990 FTX Tokens and $8.8 million on 4,250,000 MATIC. The deep-pocketed investor also purchased 17,893 AAVE for $3.6 million and 61,401 LINK for about $1.5 million, according to WhaleStats.

WhaleStats also found that the fourth-ranked largest ETH whale on the planet, known as Light, hauled in 624,989 ENJ worth about $1.5 million at time of writing.

Another trend amongst whales found during the latest crypto market pullback is their purchasing of dollar-pegged stablecoins and gaming altcoins.

According to a list compiled by WhaleStats, the top ten purchased tokens by ETH whales in the last 24 hours are top altcoin ETH, Stablecoins USD Coin (USDC) and Tether (USDT), LINK, MATIC, Wrapped Bitcoin (WBTC), play-to-earn gaming token Yield Guild Games (YGG), crypto exchange MXC Foundation (MCX), ENJ, and gaming altcoin Gala Games (GALA).

The largest token quantities purchased by the whales were USDC and USDT, coming in 77,952 and 64,077 coins, respectively.

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Source: WhaleStats

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Whales Are Accumulating 10 Altcoins on Ethereum Competitor Avalanche, According to On-Chain Data

by Dailyhodl

New data from a whale-surveilling website reveals which crypto assets are being devoured by the top 1,000 Avalanche (AVAX) whales.

According to WhaleStats, which recently began keeping track of the smart contract platform and Ethereum (ETH) competitor, deep-pocketed AVAX investors are, on average, snapping up thousands of dollars worth of stablecoins and other altcoins.

The top purchased token in the past day by AVAX whales is Magic Internet Money (MIM), the stablecoin of lending platform Abradacadabra.money, with an average purchase amount of $14,089.

Avalanche itself takes the number two spot with an average purchase amount of $13,899.

USDC.e and USDT.e, which represent stablecoins USD Coin (USDC) and Tether (USDT) respectively on the AVAX blockchain, sit at numbers three and four.

At number five is decentralized exchange (DEX) platform Pangolin (PNG) while decentralized reserve currency protocol Wonderland (TIME) grabs the sixth spot.

Avalanche-based decentralized exchange TraderJoe (JOE) lands at number seven followed by Wrapped Ethereum (WETH.e) and Wrapped Bitcoin (WBTC.e), which are Bitcoin and Ethereum tokens bridged over to the AVAX protocol.

Wrapped Avalanche (WAVAX) rounds out the list.

Source: WhaleStats

WhaleStats also shows that the top-held crypto assets by Avalanche whales are AVAX, WETH.e, USDC.e, JOE, USDT.e, MIM, WBTC.e, WAVAX, Wrapped Chainlink (LINK.e), and blockchain-based play-to-earn gaming token Cradaba (CRA).

Statistics show that Avalanche whales hold 2,440 AVAX tokens on average, worth $267.613, while the biggest token position by dollar value held by them overall is Wrapped Ethereum.

Avalanche is currently exchanging hands for $107 at time of writing, an 11% decrease from its seven-day high of $120.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Large Ethereum Holders Are Actively Accumulating Three Crypto Exchange Tokens

by Dailyhodl

Fresh data shows the world’s biggest Ethereum whales are stocking up on several altcoins that power crypto exchanges.

The latest numbers from WhaleStats reveal the 1,000 wealthiest non-exchange Ethereum addresses are invested heavily in FTT, the native token of the FTX cryptocurrency marketplace. FTT currently accounts for 7.24% of all holdings at a value of over $1.6 billion.

At time of writing, FTT is ranked third on the WhaleStats top 10, with the average quantity held per wallet being 39,274 tokens valued at $1.6 million per holder.

Also making the list is OKB, the utility token of the OKEx cryptocurrency spot and derivatives exchange. The site caters to traders, miners and institutional investors.

Source: WhaleStats

Whale wallets have allocated 2.78% to OKB for a total value of $633 million. Making OKB fifth on the WhaleStats list, with the average number of tokens owned at 19,496 for a value of $633,247.

Last on the list is Bitpanda Ecosystem Token, whose native token BEST runs on the Ethereum blockchain. The Austria-based Bitpanda marketplace has nearly 2.7 million customers and was recently valued at over $4 billion.

WhaleStats reports that BEST accounts for 2.12% of total holdings with a value above $483 million. The average wallet owns 454,945 tokens for a value of $483,173.

Source: WhaleStats

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Massive Crypto Whales Have Stockpiled Over $96,000,000,000 Worth of One Large-Cap Altcoin: Insights Firm Santiment

by Dailyhodl

Massive crypto whales are gobbling up one digital asset as the crypto markets move sideways, according to crypto analytics firm Santiment.

Santiment notes on Twitter that the top-10 largest non-exchange Ethereum addresses now hold 24.78 million worth of Ethereum (ETH), a trove that’s worth more than $96.33 billion at time of writing.

That total is close to the all-time high for the ten largest non-exchange ETH addresses, which held a record of 26.63 million ETH in June 2016, according to the crypto analytics firm.

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Source: Santiment/Twitter

Santiment also notes that the ten largest Ethereum addresses on exchanges hold a cumulative 3.82 million ETH, which is “the lowest level since exodus.”

The firm explains that the two metrics taken together could be a bullish indicator for the long term.

“This implies greater long-term hodler and trader confidence in Ethereum’s long-term value, the higher this ratio gets.

Good sign long-term, neutral sign short-term.”

Ethereum is trading at $3,839.09 at time of writing, up about 1.5% in the past 24 hours.

Ethereum isn’t the only crypto asset leaving exchanges: the total supply of Bitcoin (BTC) on exchanges recently hit its lowest total in 31 months, which Santiment says limits the risk of a major BTC selloff.

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Source: Santiment/Twitter

The analytics firm also notes that Ethereum competitor Solana (SOL) has been “leading the way in development activity among top cap crypto projects.”

“Solana (SOL) has been leading the way in development activity among top cap crypto projects and has surpassed the also impressive daily Github submission rates of Polkadot (DOT) and Cardano (ADA) over the past month.”

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Source: Santiment/Twitter

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crowd Sentiment Towards Bitcoin Hit Historic Lows as BTC Addresses in Profit Reach a Monthly Low

by Blockchain News

Bitcoin (BTC) recently topped the $52K level, but this was short-lived because the top cryptocurrency experienced a significant pullback that prompted a $10K loss as over-leverage factors came into play. 

Santiment acknowledged this, together with fear, doubt, and uncertainty (FUD), which have made crowd sentiment towards BTC sink to historic lows. The on-chain metrics provider explained:

“Crowd FUD has hit historic levels toward Bitcoin, according to our algorithm measuring commentary volume, combined with positive vs. negative BTC scores. Severe negativity has historically led to inevitable price bounces after weak hands drop out.”

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Nevertheless, Santiment noted that the high negativity witnessed in the Bitcoin market could prompt a price surge based on eliminating weak hands. These are investors who indulge in an asset for speculative other than future purposes.

BTC addresses’ profitability sinks

According to crypto analytic firm Glassnode, the number of Bitcoin addresses in profit reached a 1-month low of 31,328,534.161.

 

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On the other hand, Bitcoin futures perpetual funding rate recently turned negative, which indicated a tendency to short BTC as over-leveraged longs were wiped out.

Bitcoin whale holdings go through the roof

According to on-chain analyst Will Clemente:

“Whales holdings have increased by 103,600 BTC in the last 3 weeks.”

BTC whales have been on an accumulation spree despite the recent market crash. Market analyst Ali Martinez added that whales have been buying because addresses with 10,000 to 100,000 BTC purchased 50,000 BTC in just four days. 

Is Bitcoin emerging to be a macro asset?

Glassnode noted:

“The amount of Liquid Bitcoin on-chain has been in structural decline since the March 2020 market crash. This underlines a phase shift in investor appreciation of Bitcoin as a macro asset, with a long time horizon.”

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Meanwhile, open interest in the BTC market seems to be highly correlated with price. For instance, Bitcoin’s perpetual swaps open interest topped the $16 billion mark last week, and at the time, the price was hovering around the $50K mark. 

BTC’s price was $45,780 during intraday trading, according to CoinMarketCap. 

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Crypto Whales Suddenly Move $2,740,000,000 in Bitcoin Within Minutes – Here’s Where the Crypto Is Going

by Dailyhodl

A handful of crypto whales moved a staggering $2.74 billion in Bitcoin (BTC) within a matter of 14 minutes.

The large crypto transfers were initially detected by blockchain tracker and analytics tool Whale Alert.

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Whale Alert first noted at 11:40 p.m. PDT on July 27th that an unknown wallet transferred roughly 9,977 BTC, valued at over $399 million, to another unknown wallet.

That same minute, a separate and third unknown wallet transferred about 9,953 BTC, worth more than $398 million, to a fourth unknown wallet.

Simultaneously, a fifth unknown wallet transferred about 9,773 BTC, worth more than $391 million, to yet another wallet.

Nine minutes later, that sixth unknown wallet sent about 9,753 BTC, worth nearly $385 million, to a seventh unknown wallet.

Simultaneously, the fourth unknown wallet, which had just received more than $398 million in BTC nine minutes earlier, transferred 9,935.6 BTC, worth more than $392 million, to an eighth unknown wallet.

Six minutes later, that eighth unknown wallet sent 9,929.342 BTC, worth about $393.7 million, to a ninth unknown wallet.

And at the exact same time, the seventh unknown wallet, which had just received nearly $385 million worth of BTC six minutes earlier, sent 9,736.6875 BTC, worth more than $386 million, to a final 10th unknown wallet.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin (BTC) $ 44,219.85 1.88%
Ethereum (ETH) $ 2,365.03 0.07%
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Bitcoin Cash (BCH) $ 254.79 2.73%