On-chain analytics firm Santiment says deep-pocketed Ethereum investors are aggressively accumulating on 2 altcoins after four months of inactivity.
Ethereum whales have accumulated $407,415,040 in ETH in just 10 days
Analytical firm found that whales holding 1,000 to 10,000 Ethereum suddenly added a total of 142,000 ETH, which is worth approximately $407,415,040 at the time of writing. says. The increase in accumulation comes after a nearly four-month recession stretching back to the end of last year. According to Santiment analysts:
Ethereum’s key stakeholders are showing some savings by adding 142,000 ETH to their bags over the past 10 days. After a long decline to mid-December, this is the most sustained level of accumulation we’ve seen in more than four months.
Santiment says Binance Coin (BNB) whales have also increased their buying activity recently, which may signal an upcoming trend change according to the firm:
Binance Coin saw the largest batch of whale transactions since the beginning of March. It usually foreshadows price direction changes when more than $100,000 trades rise, as is the case now. Be careful, as the largest increase occurs on a local hill.
“-Fed’s next rate hike could impact the altcoin market”-
Also, analysts firm investors said that the high volatility in crypto markets over the weekend continues as the Fed’s next rate hike decision approaches.
Crypto markets have pulled back significantly this weekend, especially altcoin prices. If you expect large price swings, expect it to continue into Monday and Tuesday as the Fed approaches its May rate hike decision.
As we have mentioned in the news ofKriptokoin.com, the FOMC meeting will be held on May 3-4. The Fed will open its interest rate decision on the evening of May 4, and after the interest rate decision, Powell will share the messages that the markets are eagerly waiting for. In the last quarter of 2021, the Fed shared the monetary tightening steps by reducing its asset purchases. However, with the new year, the Fed started to regulate the market with even more hawkish statements.
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