Analyst firm Santiment says that the world’s wealthiest crypto investors are still bullish on leading altcoin Ethereum (ETH) despite the market slump. Santiment also points to Chainlink (LINK). Here are the details…
Santiment draws attention to the leading altcoin Ethereum
According to Santiment, it maintains a high percentage of Ethereum in their portfolio of top 10 over-the-counter wallets and now holds 3.4x more ETH than exchanges. The firm says this shows that the biggest whales are holding tight on the leading altcoin. The following statements are posted on Santiment’s Twitter account:
Ethereum’s top 10 over-the-counter addresses maintain the high ETH ratio over the top 10 over-the-counter whales. With a massive 3.4x more tokens being held, there still seems to be a belief that prices can stabilize.
Santiment also says that investors with deep pockets are accumulating Chainlink (LINK). The firm says whales have been stockpiling the asset since last month, when the price of its decentralized oracle network fell below $6.00. The platform uses the following phrases:
Chainlink has pumped 9 percent in the last 2 hours and the whales that have accumulated are gaining capital. After dumping started on March 30, they started to accumulate again as prices dropped in early May. They hold more than 25 percent of the supply for the first time since November.
Cardano and HNT also perform well
Analysis firm, LINK’s with Cardano (ADA) and Helium (HNT) However, in early June, he says the crypto market is performing well despite the high volatility. Meanwhile, Bitcoin (BTC) and Ethereum prices are moving sideways. As we reported on Kriptokoin.com, crypto prices fell wildly in the opening week of June, but the result was mainly no movement for Bitcoin and Ethereum. “Altcoins, on the other hand, showed great divergences from each other, with ADA, LINK and HNT performing well,” Santiment said.
Santiment also reveals that the share of Bitcoin supply on exchanges is currently at 10 percent, the lowest since December 2018, which is a sign of a bullish stance among long-term holders. could be a sign. According to Santiment, the share of BTC supply on exchanges dropped to 9.9 percent after May volatility caused an influx of BTC moving to stock markets for panic selling. This is shown as a sign of the confidence of investors who have been holding coins for a long time. The rate in question has never been this low in the last 3.5 years.
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