Whale activity drop in crypto doesn’t always signal bearish trends or price falls.
Bitcoin and Ethereum show recent bullish trends despite decreased whale transactions.
XRP, TON, and ADA show positive price trends despite reduced whale transactions.
Recent data indicates a decline in large transactions – those exceeding $100,000 – for major cryptocurrencies like Bitcoin, Ethereum, XRP, Toncoin, and Cardano. This trend, observed from late February to early September 2024, suggests a shift in how large holders, often referred to as “whales,” are interacting with the market.
The decline in overall whale activity across most crypto assets has become more and more noticeable. Peak 2024 $100K+ transaction weeks for BTC & ETH compared to recently:
Bitcoin:
March 13-19: 115.1K Whale Transactions
August 21-27: 60.2K Whale Transactions
Ethereum:
March… pic.twitter.com/kBseamXiCT
— Santiment (@santimentfeed) September 3, 2024
However, the overall market picture shows that reduced whale activity does not necessarily translate to an impending price drop or bearish trend.
Bitcoin, for instance, saw a significant decrease in large transactions from March to August 2024…
The post Crypto Whales Are Selling, But Prices Are Rising – What’s Going On? appeared first on Coin Edition.
