Whales ditching Bitcoin for Ethereum? Santiment data suggests a shift
- Ethereum whale wallets rise 4% as large holders return during price rally.
- Bitcoin whale wallets drop 1.8% amid price dip and increased market volatility.
- ETH whale accumulation aligns with ETF inflows and sustained bullish momentum.
A telling divergence is appearing between the market’s largest players, as Ethereum is seeing an increase in large wallet activity while Bitcoin experiences a decline in whale participation.
Over the past week, the number of Ethereum whale wallets holding more than 10,000 ETH rose by 45, a 4% increase. During that same time, Bitcoin wallets holding 1,000 BTC or more dropped by 39, a 1.8% decrease.
Related: Bitcoin and Ethereum Whales Take Profits, Signaling Potential Dip
Data from Santiment shows that Ethereum’s rise in its whale wallet count has coincided with a strong price rally. Since late June, ETH climbed from below $2,100 to a high above $3,600. As of July 22, Ethereum was trading at $3,681.
In the past week, crypto's top market caps are seeing whale numbers move in opposite directions: 
Bitcoin's 1K+ 
Ethereum's 10K+ 
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Whales ditching Bitcoin for Ethereum? Santiment data suggests a shift
- Ethereum whale wallets rise 4% as large holders return during price rally.
- Bitcoin whale wallets drop 1.8% amid price dip and increased market volatility.
- ETH whale accumulation aligns with ETF inflows and sustained bullish momentum.
A telling divergence is appearing between the market’s largest players, as Ethereum is seeing an increase in large wallet activity while Bitcoin experiences a decline in whale participation.
Over the past week, the number of Ethereum whale wallets holding more than 10,000 ETH rose by 45, a 4% increase. During that same time, Bitcoin wallets holding 1,000 BTC or more dropped by 39, a 1.8% decrease.
Related: Bitcoin and Ethereum Whales Take Profits, Signaling Potential Dip
Data from Santiment shows that Ethereum’s rise in its whale wallet count has coincided with a strong price rally. Since late June, ETH climbed from below $2,100 to a high above $3,600. As of July 22, Ethereum was trading at $3,681.
The post Whales ditching Bitcoin for Ethereum? Santiment data suggests a shift appeared first on Coin Edition.
Read More