A leading whale watching platform says Ethereum (ETH) whales have amassed an ETH competitor whose price has fallen over the past month. Meanwhile, it turns out that the top 100 Ethereum addresses are selling Dogecoin (DOGE) and Shiba Inu (SHIB). Here are the details…
Altcoin whales sell SHIB
According to WhaleStats, which provides on-chain data for whales, Fantom (FTM) is among the top ten tokens purchased by the top 100 ETH wallets this week. took. Phantom is trading at $1.34 at the time of writing. The 43rd-ranked cryptocurrency by market cap has risen more than 5.5 percent in the past week. According to WhaleStats, the top 100 ETH addresses also sell the popular memecoin and Dogecoin (DOGE) competitor Shiba Inu (SHIB).
SHIB is down 4 percent from where it was priced a month ago. But the 15th-ranked cryptocurrency by market cap has increased by more than 9 percent in the past week. It’s changing hands at $0.00002466 at the time of writing and is up 1.1 percent in the last 24 hours.
What are Bitcoin whales doing?
In terms of Bitcoin (BTC) whales, crypto analytics firm Santiment notes on Twitter that deep-pocketed investors have been accumulating BTC since the beginning of Russia’s invasion of Ukraine. Santiment uses the following statements in a post on Twitter:
The amount of Bitcoin addresses holding 1,000 to 10,000 BTC has increased by 8.3 percent since the Russia-Ukraine war became official. 2,203 addresses are at a 1-year high. Both this tier and the 100 to 1,000 BTC tier have historically predicted price movements.
On the other hand, when BTC is removed from exchanges and moved to private wallets, there is a significantly smaller supply available in the market, meaning that increased demand could lead to higher prices. Bitcoin has been trading particularly sideways for the past few months as it seems to be stuck in a narrow trading range. As we reported on Kriptokoin.com, the cryptocurrency quickly recovered to re-enter its range, although it suffered a sell-off as Russia began invading Ukraine. It’s changing hands at $44,659 at the time of writing.
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