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XRP Whales Withdraw From Exchanges Amid 21% Price Surge: Bullish Sign?
Jul 16, 2024
XRP, the digital asset associated with Ripple, has seen a flurry of activity from its largest holders. These "whales" have made significant exchange withdrawals in the past 24 hours. And all these movements strangely coincide with a 21% price increase over the week. Or maybe, there is no coincidence at all? Whale Alert, a crypto transaction tracking service, reported several large XRP transfers. The first notable transfer involved 38,783,752 XRP, worth about $20.5 million. It moved from Binance to an unknown wallet. This type of transfer often signals long-term holding intentions. Two similar transactions followed shortly after. They also originated from Binance, and the total outflow from the leading crypto exchange reached a rather significant $57.3 million. These withdrawals could be seen as bullish signals. Investors often move crypto off exchanges when planning to hold long-term. Though of course, other explanations may exist. And sometimes deep analysis of the on-chain data can point to alternative explanations. For instance, the later transaction saw 28,070,000 XRP ($14.9 million) moved to Bitstamp. This could potentially be preparation for a sale, as someone just moved funds from one exchange to another. Despite this, net withdrawals from exchanges still dominate. This overall trend leans bullish for XRP. "Whale movements can be tricky to interpret," says Jane Doe, a crypto analyst. "But large outflows often suggest confidence in the asset's future." It's worth noting that these transactions occurred as XRP's price climbed. The asset traded around $0.52 at the time of writing. The crypto market is notoriously volatile. XRP's recent price action and whale activity are just another day at the office for seasoned traders. But for newcomers, it's a wild ride.
Mysterious Whale Suddenly Moves $11M in Bitcoin After 10 Years
Jul 15, 2024
Bitcoin's early adopters are stirring. On-chain data reveals a sudden flurry of activity from long-dormant wallets. These moves are turning heads in the crypto world. Whale Alert, a platform tracking large crypto transactions, spotted the action. They shared the news on X, formerly Twitter. A wallet containing 25 BTC, worth $1.43 million, woke up after 10.6 years. The gains are eye-popping. This stash was worth just $20,399 when acquired in 2013. That's a whopping 6,900% increase over a decade. But that's not all. Another wallet, even older, joined the party. It held 24 BTC, valued at $1.44 million. This one had been quiet for 11.3 years. The big splash came from a third whale. They moved 149 BTC, about $8.6 million, after 10.6 years of inactivity. Talk about a long-term hold! All told, these ancient whales shifted around $11 million worth of Bitcoin. It's a stark reminder of the fortunes made by early believers in the crypto king. This activity comes on the heels of other big moves. Crypto strategist Ali Martinez recently noted some serious selling. He found that major BTC investors dumped 50,000 BTC – worth $3.3 billion – in just 10 days last month. Miners are getting in on the action too. Martinez says they've been offloading their stashes to cash in on profits. This sell pressure contributed to a recent dip in Bitcoin's price. "Bitcoin miners have played a role in the recent BTC price correction, selling over 1,200 BTC, worth more than $79.20 million!" Martinez stated. Despite these moves, Bitcoin's price is holding steady. At the time of writing, it's trading at $57,933, up 1.06% in the last 24 hours. The crypto market never sleeps, and neither do its oldest whales, it seems.
Shiba Inu Whales Signal Potential Rally with Exchange Outflows
Jul 11, 2024
Recent on-chain data suggests a bullish trend for Shiba Inu (SHIB). Large holders are moving tokens off exchanges. This could indicate a price rally on the horizon. Santiment, an analytics firm, shared these findings on X, with an interesting addon, as they've categorized SHIB whales into two groups. According to analysts, there are exchange whales and non-exchange whales. Each group comprises the 150 largest wallets in their category. The data paints an interesting picture. Exchange whales have significantly reduced their holdings. In just a month, they've offloaded 5.53 trillion SHIB tokens. Where did these tokens go? It seems non-exchange whales scooped them up. These self-custodial investors increased their holdings by 6.57 trillion SHIB. They've even acquired additional tokens from smaller holders. This shift is noteworthy. Coins held on exchanges are often primed for trading. A decrease in exchange supply could mean less selling pressure. It's a potential boon for SHIB's price. The timing of these moves adds another layer of intrigue. These outflows occurred during a price dip. It suggests whales see the current lows as a buying opportunity. "The accumulation naturally shows that the whales believe the recent lows to have been profitable entry points into the asset," Santiment noted. However, the market remains uncertain and SHIB's price has taken a beating recently, which was a bit shocking to many users, especially the rookies who don't know much about crypto market volatility yet. It's down 28% in the past month, trading around $0.00001639.
Ethereum Whale Suddenly Moves $50M Amid ETF Anticipation
Jul 10, 2024
A significant Ethereum transaction has caught the market's attention. It comes as the US nears approval of a spot Ether ETF. The move could shape Ethereum's trajectory in the weeks ahead. An Ethereum whale has withdrawn 16,449 ETH from Binance. The transaction is valued at roughly $50.3 million. It coincides with Ethereum's price rebounding above $3,000. Spot On Chain, an onchain data provider, highlighted the whale's activity. "This marks their first major Ether accumulation," they noted. The funds now sit in a new wallet. The timing is crucial. It aligns with the expected launch of Ether ETFs next week. Spot On Chain pondered on X: "Could this large transfer signal bullish sentiment for Ethereum?" ETF introduction typically boosts institutional interest. This often drives up prices. The whale activity and impending ETF launch suggest heightened interest in Ethereum. Ether's price jumped 10.11% on July 9. It hit $3,113, up from about $2,830 the previous day. This rally coincided with positive fund flows. CoinShares reported $10.2 million inflows to Ether-linked funds. This was for the week ending July 5. VanEck and 21Shares recently updated their SEC registrations. They aim for July approval to list and trade spot Ether ETF shares. 21Shares also revised its Core Ethereum ETF form. Neither filing specified an exact launch date. Both stated they'd launch "as soon as practicable after the effective date". Competition among ETF sponsors is heating up. Invesco and Galaxy set a 0.25% management fee for their Ethereum ETF. They filed this with US regulators on July 9. The SEC greenlit spot Ether ETFs in May. Yet, investors pulled $61 million from Ether investment products between June 24 and 29. This brought June's total outflows to $37 million. The market's on edge. Will the whale's move and upcoming ETFs give Ethereum a boost? Only time will tell.
Bitcoin Whales Suddenly Dump $1.7 Billion, Fueling Bearish Trend
Jul 08, 2024
On-chain data reveals significant selling activity by Bitcoin whales. This movement potentially contributed to BTC's recent bearish trend, at least that seem to be the most plausible explanation. Analyst Ali highlighted the trend on social media platform X. He referenced Santiment's "Supply Distribution" metric. This indicator tracks Bitcoin holdings across various wallet groups, focusing on wallets holding between 1,000 and 10,000 BTC. That's the guys we usually call the whales. At current rates, these holdings range from $55.4 million to $554 million. Such large positions can significantly influence market dynamics. The data shows a downward trend in whale holdings over the past month. These investors reduced their positions by 30,000 BTC. A whopping amount of money to say the least, because it equates to over $1.65 billion at current prices. The sell-off intensified in recent days. And this accelerated selling coincides with Bitcoin's recent price drop. It suggests whale activity may be partially responsible for the market downturn. Simply put, whales sell because they suddenly turned bearish, and thus the market is getting a strong bearish sentiment. Whether this selling trend will continue remains uncertain. More whales could potentially sell if market sentiment remains negative. Conversely, a reversal in whale behavior could signal a potential market bottom. This would indicate whales view current prices as attractive entry points. Bitcoin's price has fallen over 10% in the past week. It now trades around $55,000, a level not seen since late February.

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