The recent sharp declines in the cryptocurrency market have brought the actions of large investors back into the spotlight. Popular cryptocurrency analyst Ali Martinez shared noteworthy data by examining the recent transactions of Bitcoin (BTC), Ethereum (ETH), and XRP whales.
According to Martinez’s analysis based on Santiment data, while Bitcoin and Ethereum whales are reducing their holdings, XRP whales are conversely continuing to buy.
According to the analyst’s data, as Bitcoin fell from $79,000 to below $73,000 in the last week, the amount of BTC in the wallets of large investors decreased by more than 34,000. This amount is said to be worth approximately $2.6 billion.
A similar trend was observed on the Ethereum side. Martinez reported that Ethereum whales reduced their holdings by approximately 17,800 ETH in the last seven days. This amount is estimated to have a market value of approximately $40 million.
However, XRP whales appeared to be following a different strategy than Bitcoin and Ethereum investors. According to the analyst, large XRP investors accumulated approximately 65.32 million XRP in the last four days. The total value of these purchases reached approximately $72 million.
Martinez noted a remarkable divergence among the three major cryptocurrencies, stating that while Bitcoin and Ethereum whales are reducing their holdings, accumulation in XRP continues.
*This is not investment advice.
