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What Are Massive Whales Doing in Bitcoin, Ethereum, XRP and LINK? Data Revealed

What are the biggest whales of the cryptocurrency world doing in the BTC, ETH, XRP and LINK market? Here is the latest updated data.

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In a recent analysis, cryptocurrency analysis firm Santiment turned its attention to the behavior of key whales in the crypto market.

With Bitcoin briefly surpassing its $70,000 market cap and Ethereum touching the $4,000 mark for the first time in more than two years, the firm believes it's an opportune time to examine the actions of big whales for some of the highest market cap assets in crypto. believes.

According to Santiment, cryptocurrency prices fluctuate for a variety of reasons, but two key aspects to watch are the behavior of large key whales and small majority holders. The firm notes that prices generally move in the same direction as big whales accumulate or divest assets, while prices tend to move in the opposite direction as small majority asset owners do the same.

Santiment's analysis focuses on how whale and shark wallets, typically defined as wallets worth over $100,000, accumulate and dispose of top assets.

For Bitcoin, the company notes that slight declines in BTC held by sharks and whales are not a major concern. Despite the slight decline over the last two months, the long-term accumulation pattern of these wallets remains strong, with a bulk purchase of 187,960 BTC since January 27.

Santiment's analysis reveals that whale activity has been decreasing for about three months, dating back to several weeks before Bitcoin's all-time high on March 14. However, this is not necessarily a negative sign, as it may reflect a lack of significant profit-making or accumulation opportunities for big whales.

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In terms of altcoins, Santiment observes that wallets holding more than 10 million XRP ($5.1 million or more) are trending well, adding 3.17 billion additional coins to their wallets since the bottom 16 months ago.

However, according to analysts, Chainlink does not present such an optimistic picture. Wallets with more than 100 thousand LINK (about $1.8 million or more) have been in decline for the last four years. While there has been a slight accumulation recovery over the last six months (+17.27 million LINK), Santiment suggests that more confidence from these key whales will be needed to justify continued increases.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

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