Crypto Whales Are Selling, But Prices Are Rising – What’s Going On?
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- Whale activity drop in crypto doesn’t always signal bearish trends or price falls.
- Bitcoin and Ethereum show recent bullish trends despite decreased whale transactions.
- XRP, TON, and ADA show positive price trends despite reduced whale transactions.
Recent data indicates a decline in large transactions – those exceeding $100,000 – for major cryptocurrencies like Bitcoin, Ethereum, XRP, Toncoin, and Cardano. This trend, observed from late February to early September 2024, suggests a shift in how large holders, often referred to as “whales,” are interacting with the market.
— Santiment (@santimentfeed) September 3, 2024
The decline in overall whale activity across most crypto assets has become more and more noticeable. Peak 2024 $100K+ transaction weeks for BTC & ETH compared to recently:
Bitcoin:
March 13-19: 115.1K Whale Transactions
August 21-27: 60.2K Whale Transactions
Ethereum:
March… pic.twitter.com/kBseamXiCT
However, the overall market picture shows that reduced whale activity does not necessarily translate to an impending price drop or bearish trend.
Bitcoin, for instance, saw a significant decrease in large transactions from March to August 2024…
The post Crypto Whales Are Selling, But Prices Are Rising – What’s Going On? appeared first on Coin Edition.
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Coins
$ 63.72K
-1.20%$ 1.87K
-0.23%$ 0.9986
-2.50%$ 0.184
-5.59%$ 0.00513
-4.83%Predictions Markets
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