Thus, many observers of this data may predict an upcoming rally for the affected cryptocurrencies and potentially other tokens in the Ethereum ecosystem. When you see hundreds of millions of dollars go-between wallets, they are generally OTC trades, and it is never clear whether it is a buy or a sell why Tesla’s BTC buy did not impact markets until it was publicly announced. When bitcoin dumped, none of the mega buys from Michael Saylor’s Microstrategy moved prices upwards given they were OTC accumulations. Long story short, wallet-to-wallet movements typically have negligible price impact in the immediate term. Everything that occurs on the chain is visible and publicly accessible, allowing anyone, anywhere, at any time, to access and analyze it.

Whale Accumulation Contrasts with $478M Ether ETF Outflows, Highlighting Divergent Market Strategies

• Meanwhile, the price of Ethereum, the second-largest cryptocurrency by market cap has appeared to suffer losses over the week.
• This information serves as a valuable starting point for exploring tokens that may be worth further investigation.
• With millions of transactions and addresses, tracking crypto wallets can be tough.
• For example, the largest Altcoin holder selling 10 million Altcoins and a smaller wallet doing the exact same thing are different.

I agree to receive newsletters from CryptoVantage and accept the data privacy statement. Given such overall accumulation, it shouldn’t be feared that the market is on the cusp of a huge selloff. Yes, it had a bad 2022, but 2023 has for the most part witnessed some positive recovery, with BTC and ETH up by 75% and 62% respectively since January 1. He writes about technology, markets and politics, and has bylines for Forbes, Digital Trends, CCN, Wired, TechCrunch, the Verge, the Sun, the New Internationalist, and TruthOut, among many others.

ETFSwap (ETFS) becomes safe haven investment for Ethereum whales

The meme coin gained 1193% as the crypto market experienced a particularly successful run in early 2024. As explained earlier, meme coins amplify favorable market conditions, and PEPE was no exception. Because of their volatility, meme coins are known to provide better profit margins than most other cryptocurrency narratives. For example, while BTC has gained 157% in the past year, SHIB is up by 203% in the same period. This platform is set to revolutionize crypto trading by integrating artificial intelligence into every aspect of the trading process, allowing traders to have full control of their trading.

Pump Makes RCOF The Best Option

This accumulation could be a great sign for the market since it would attract more people to invest in Ethereum and develop it more. While the crypto market is yet to come into terms with the recent activities by the mystery mega Ethereum whale, the community keeps its eyes open. Such a significant volume of ETH movements to a centralized exchange along with rumors of their transition to an upcoming project like Qubetics has sparked speculations. Besides potential effects on the market, the actions of the whale have brought back the issue of the responsibilities of early birds in the world of cryptocurrencies. The earliest joiners who purchased large quantities of ETH at relatively low prices exercised high control over the market and their decisions resulted in massive price fluctuations.

The Best Crypto Presale Platform: Explore MoonBag’s $10 Projection, PAW’s Early Triumph and $DICE’s Gaming Integration

Dogecoin whales are impressed by how simple it is to trade and take advantage of the platform’s special features by only joining or creating a DeFi wallet. Whale Alert also tracked down a wallet that was involved in the initial coin offering (ICO) of Ethereum move 197 ETH worth $622,685. The wallet had been dormant for nearly nine years prior to the latest transfer, according to Whale Alert. Three different unknown whales shoveled 30,020 ETH; 11,192 ETH and 11,207 ETH to this centralized crypto exchange. These Ethereum lumps were evaluated at $86,959,077; $32,273,912 and $32,683,631. All in all, these on-chain data points say but one thing – whales are actively buying MATIC tokens.

Modern Money for Modern Markets — Part I

Discover why Aave’s tokenomics and Mpeppe’s meme coin rise make them top picks for August 2024 profits and growth potential. The whale has accumulated more ETH and NFTs when the crypto market is fragile. The growing interest of whales in ETH staking and Ethereum ecosystem tokens reflects renewed confidence in the growth potential of this network. This dynamic could play a key role in the continued adoption and maturation of the Ethereum ecosystem. Currently, WBETH holders can trade at a price higher than ETH spot, which might explain the increasing deposits into Binance’s staking program. Celsius, a defunct crypto lending company, has repaid more than half of its creditors, according to a filing made on Monday.

The Allure Of ETFSwap (ETFS) Among Dogecoin Whales

At the time of the transaction, the withdrawn tokens were valued at $1.98 million. Since meme-coins like Dogecoin have underperformed recently, whales are diversifying into utility-focused projects like ETFSwap (ETFS). The utilities of the DeFi platform have made it a hot topic among crypto enthusiasts, who have come out in droves to buy the presale.

Dead Coins: How Many Cryptocurrencies Have Failed?

Understanding whale movements, signals, and behaviors are key to cryptocurrency investing. Most cryptocurrency blockchains are publicly viewable and you use blockchain explorers to see most transactions on them. The level of transparency provides information of items much more than transaction confirmation or its integrity. For example, you can see wallet ranking based on ownership giving insights into supply, distribution, transaction volume, wallet concentration.

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• Market depth is an important variable in the whole equation of tracking movement and not immediately assume capitulation or moon tracks even when you see whale alert tools tweeting or pushing a telegram message.
• In particular, the bears have a 50.25% hold on the market, while the bulls have a 49.75% hold on the market over the last 24 hours, as illustrated above.
• This tool is great for seasoned investors who want to maximize their gains by up to 1,000%, meaning a $1,000 gain can easily be turned into a $10,000 gain.
• Plus, if a crypto whale has multiple wallets (and they often do), identifying, linking, and tracking them can become a significant time drain.
• The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol.
• Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset.
• This purchase, as reported by Lookonchain, reflects a clear bullish stance on the Ethereum market and a simultaneous bearish sentiment towards Bitcoin (BTC).

Focused on solving real-world problems, Qubetics invites crypto enthusiasts to join its whitelist with their email addresses in anticipation of the upcoming presale. Under the leadership of Mr. Shaffy Yaqubi, a blockchain enthusiast with a background in clinical training, Qubetics aims to leverage technology to revolutionise finance and business. The project is also a proud sponsor of TOKEN2049, which will be held at Marina Bay Sands in Singapore on September 18-19, 2024. Bitcoin (BTC) trades above $60,000 on Friday, gaining more than 4% this week so far, but fluctuating within a range between $57,000 and $62,000 for the last 15 days. On-chain data shows contradicting signs, with institutions accumulating Bitcoin while some whales are selling.

Ethereum Whales Buy Massive Amount of Polygon (MATIC) and Aave, RCO Finance (RCOF) Is Next

The sellers also happen to have a slightly stronger hand over the market, with a 50.26% hold over the last 24 hours. This is one of the key ingredients of a breakout, and Dogecoin may be headed for better days ahead. Like Bitcoin, Ethereum’s sellers https://www.cointribune.com/en/crypto-whales-are-accumulating-ethereum/ have a 50.03% dominance over the last 24 hours, while the bulls have a slightly smaller 49.97% dominance. According to CoinGlass, the bulls and bears appear to be evenly matched on all exchanges, according to the Long and Short ratio.

Three bitcoin wallets owned 2.94% of all the bitcoin in circulation in March 2024, according to BitInfoCharts, and the top 110 wallets held more than 15% of all bitcoin. Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology. Therefore, the above instance is just a way by which crypto whales can significantly influence the market, as the power they possess.

Simultaneously, another whale with wallet address “0x968…3c625” sent 12,675 ETH, worth about $33.10 million, to the Coinbase exchange. The recent transfers to these top crypto exchanges have fueled concerns over a potential downturn in the crypto market in the coming days. When crypto prices contract, outflows from non-custodial wallets to centralized ramps, including Binance and Coinbase, tend to rise. The cryptocurrency market is known for its volatility, and whale movements often exacerbate this characteristic. While the exact intentions behind the recent transfer remain speculative, the market’s response has been cautious.

At the forefront of this niche, ETFSwap (ETFS) users and investors enjoy the benefits provided by the innovation and flexibility of the decentralized finance realm while trading their various assets. Some could simply have large balances but are historically unprofitable or have low returns on their investments. Some could be cryptocurrency exchanges holding crypto assets on behalf of their customers. Tracking these wallets might not give helpful insights for investors with smaller-sized portfolios. Since whales can manipulate coin prices, a project with too many whales can be extremely volatile. Therefore, while making a crypto investment strategy, tracking the top crypto whales gives you an edge over the average retail participant.

ETFSwap (ETFS) On A Run To Over 1,000% Rise

This feature allows users to provide liquidity to trading pairs with their digital assets and earn rewards. Furthermore, at $0.01831, ETFS tokens seem more reasonable in comparison to other cryptocurrencies and might generate significant returns for investors. Investors with 1,000,000,000 Dogecoin (DOGE) holdings declined from 48.72% to 47.54% on June 15th and 16th, according to Santiment on-chain analytics. Interestingly, mid-sized whales with balances of 100 million to 1 billion Dogecoin increased their share of Dogecoin supply throughout this period. In contrast to traditional ETF trading platforms, ETFSwap (ETFS) allows trading around-the-clock, so there’s no need to wait for market trading hours. Users of this platform can trade tokenized versions of ETFs covering different industries, including bonds, commodities, fixed income among others.

As things stand, the contraction of Bitcoin prices will negatively impact altcoins, and ETH is no exception. However, if there are losses below immediate support zones by the end of the day, ETH may crumble, aligning with the dump of early August. Analysts predict that this trend might continue, especially with the potential launch of an Ethereum ETF in the coming days.

However, Dogecoin also appears to be ascending within the channel and may be poised for a massive breakout very soon. Dogecoin’s price action has been largely bearish over the better part of the year. CoinGlass data shows that Ethereum’s bulls and bears may be on an even footing.

PYUSD hits $1 billion milestone with the majority of its supply on Solana

Ethereum (ETH) is down nearly 9% on Tuesday following increased selling pressure from ETH ETF investors and whales. The selling pressure has also led to Ethereum co-founder Vitalik Buterin being accused of not believing in ETH as a store of value (SoV). As the crypto community closely watches Ethereum’s performance, the spotlight has shifted from Bitcoin temporarily. Anticipation is growing around the potential approval of Bitcoin exchange-traded funds (ETFs), which could further impact the market dynamics.

• This crypto transaction, completed in one week, illustrates the trend of whales testing new forms of staking.
• In an exclusive report from Deythere.com, many crypto enthusiasts believe the whale sold Ethereum tokens to buy exposure in the upcoming layer-1 EVM-compatible blockchain project known as Qubetics.
• Many believe that ETH whales could be withdrawing their funds from other projects to buy Qubetics.
• Following the breach of the primary support and the bull flag, traders can consider shorts in the short term.
• The comments, opinions, and analyses expressed on Investopedia are for informational purposes online.
• Tracking them will help you analyze their patterns and strategies, such as trade timing, the type of coins they trade, risk management, and response to market conditions.
• While the exact intentions of the whale remain unclear, such large movements are always noteworthy and can significantly impact market dynamics.

Hence printing of USDT or USDC does not always mean prices will increase, it only indicates a spike in demand. Retail can FOMO into the pump and get dumped by smart money just like whale movements on and off exchanges can create a mirage. These crypto whales made Ethereum withdrawals, which came out to a total of 30,440, worth $90 million at the time. Crypto traders often use such insights, as reported by Lookonchain, to gauge whales’ investment habits and anticipate potential market trends. Withdrawing crypto assets from exchanges into dedicated wallets could signal an intention to hold these assets for the long term and suggest a bullish outlook.

In a recent post on X, Lookonchain highlighted that crypto whales are withdrawing LDO, AAVE, UNI, LINK, and ENS in significant volumes from centralized exchanges. The ETFSwap (ETFS) platform has positioned itself to tokenize these Bitcoin (BTC) and EthereuM ETFs and ensure their accessibility to crypto whales and investors. Experts predict a potential ROI of 1200%, with CYBRO tokens available at a presale price of just $0.03 each. This rare, technologically advanced project has already attracted prominent crypto whales and influencers, indicating strong confidence and interest. The recent whale movement has added a layer of intrigue to the market, as investors speculate on the potential impact of such large transfers on ETH’s price trajectory.

Furthermore, the blockchain audit and security company CyberScope has thoroughly examined ETFSwap (ETFS) smart contracts, ensuring a safe user experience. Another whale was seen attempting to leverage-long Ethereum, after previously losing millions trying to do the same move. Lookonchain identified the entity borrowing USDT from the lending platform Compound (COMP) to long ETH.