The cryptocurrency market analysis firm Santiment, which is committed to providing the most recent information on the cryptocurrency market, reports that, after a four-month period of inactivity, Ethereum whales have resumed the process of accumulation of the second largest digital currency.
ETH whales on the offensive
From the tweet published by the company, we learn that whales holding between 1,000 and 10,000 ETH added 142,000 ethers to their wallets, with a total value of about $407,415,040 at the current rate of this cryptocurrency. The dynamic jump in accumulated coins came after about four months of stagnation. The last time the big players in the Ethereum market operated with such panache was at the end of last year.
According to a post on their official Twitter account, Ethereum’s key stakeholders have added 142,000 more ETH to their portfolios in the last 10 days.
Analysts at Santiment also noted that Binance Coin (BNB) whales have recently increased their buying activity, which could be a sign of an impending price reversal.
On Binance Coin since the beginning of March, you can observe the largest group of transactions involving whales. When trades worth more than $100,000 increase, as is the case today, it usually foreshadows changes in price direction. Be careful, because the biggest jump occurred at the local summit
– informs Santiment.
What’s more, they warn investors that high volatility should persist as the Next Federal Reserve’s decision to raise interest rates approaches. This one is announced for May.
Read Also: The NFT market remains dominated by Ethereum
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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