According to a recent report by Kraken exchange, Bitcoin whales have put some of their Ethereum (ETH) funds up for sale. According to stock market analysts, on the one hand, the increasing number of whales shows that giant wallets profited in January. As Kriptokoin.com, we are citing the highlights of the report…
Bitcoin whales evaluated bottom prices
According to Kraken, throughout January, crypto whales chose different courses on Bitcoin (BTC) and Ethereum (ETH) . In a recent analysis, Kraken identifies whale wallets as those holding more than 1,000 BTC or 10,000 ETH, and then explores data to show that while the number of Bitcoin whales is decreasing, new investors are increasing:
While the number of BTC whales decreased in January 2022, the whale The amount of BTC held by addresses has increased from 7.916 million to 8,013 million by Jan. 31, which may indicate that some whale addresses benefited from last month’s drop.
Bitcoin had one of its worst January months
Bitcoin has slumped by around 20% since January, Kraken analysts say it is generally the biggest month of January It reminds me that this is the worst month for cryptocurrency:
In January 2022 (at 54%), volatility was somewhat modest compared to the previous month. Since 2011, January has been the third least volatile month.
Bitcoin’s price activity is similar to that of other asset classes, indicating that investors’ policy is at stake:
BTC’s link to assets at risk declined in December 2021, then stable for most of the month back in January 2022 after following a trend. The link between BTC and the Nasdaq and S&P 500 has improved. BTC’s price performance slipped into negative territory in January, similar to US equities, with risk-off assets falling in response to the (Fed’s) hawkish move.
Kraken confirms Ethereum whales selling
As for leading smart contract platform Ethereum (ETH), ETH whales are selling some of their funds :
The amount of ETH held by whales fell from 81.286 million to 81.241 million, but the number of Ethereum (ETH) whales increased, showing that whales profited from the January drop.
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