A well-known market intelligence firm has found that Ethereum (ETH) whales are swallowing ETH at the highest rate seen since 2020. On the other hand, Binance whales also seem to be in action. Here are the details…
Ethereum whales in the backlog
According to crypto analytics firm Santiment, deep-pocketed Ethereum investors are seriously grabbing ETH. Santiment says that a recent accumulation event like this one in 2020 caused ETH to increase by 50 percent in a little over a month. Santiment’s statements include the following statements:
Ethereum’s active shark and whale addresses continue to accumulate at prices less than a quarter of their all-time highs a year ago. In October/November 2020, these 100 to 100,000,000 ETH addresses helped ETH experience a 50 percent price increase for 5 weeks.
$1.03 billion in one day
Earlier this week, Santiment discovered that ETH whales had swallowed $1.03 billion worth of Ethereum in one day. This represented the fifth largest single-day purchase by the largest group of whales. The firm also noted the popularity of its layer-2 scaling solution, Arbitrum, for stablecoin use. He states that Arbitrum has started to compete with the second-largest cryptoasset by market cap. According to Santiment, stablecoin usage on Ethereum dwarfs Arbitrum. However, the use of dollar-pegged cryptocurrencies on Arbitrum has doubled recently. Their use in ETH has only slightly increased.
Binance Coin, Polygon, and Curve are also in action
Crypto whales, on the other hand, are suddenly moving hundreds of millions of dollars worth of XRP, Binance Coin (BNB), Polygon (MATIC), and Curve (CRV). New data from Whale Alert shows that deep-pocketed crypto investors are transferring altcoins to unknown crypto wallets and crypto exchange platforms.
https://twitter.com/whale_alert/status/1595870617709858816
Notable XRP transactions include 26,418,948 XRP worth $10,573,032 transferred from Bitstamp to an unknown wallet. Also, there were 30,000,000 XRP transfers worth $12,096,528 moved from an unknown wallet to Bitstamp. Finally, there is 29,000,000 XRP worth $1,694,512 transferred from an unknown wallet to Bitstamp.
https://twitter.com/whale_alert/status/1596158829405806601
Binance Coin’s move points to biggest transactions
Other cryptocurrencies on the move include BNB, the native asset of Binance, the world’s largest crypto exchange platform by volume, Polygon, the Ethereum (ETH) scaling solution, and the crypto asset CRV of the decentralized exchange platform Curve Finance, as reported by Cryptokoin.com. . According to Whale Alert’s data, the biggest transactions occurred when whales moved their BNB.
https://twitter.com/whale_alert/status/1595668012232839174
The high net worth trader moved 800,000 BNB worth $238,244,053 from Binance to an unknown wallet. Another moved 422,036 BNB worth $125,657,497 from one unknown wallet to another. Other notable transactions from crypto whales on Whale Alert’s radar include:
- 9,000,000 MATICs worth $7,859,667 were transferred to Binance from an unknown wallet.
- 15,000,000 CRV worth $10,261,544 transferred from AAVE to an unknown wallet.
- 10,000,000 CRVs worth $6,835,697 transferred from an unknown wallet to AAVE.
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