The founder and head of the analytical company CryptoQuant, Ki Yong Joo, said that cryptocurrency whales are building walls, preparing for a bullish rally in the digital asset market.
By walls, Ki means a large volume of open orders for the purchase of coins. According to him, the bias towards transactions related to the acquisition of digital assets is increasing on crypto exchanges, if you do not take into account bitcoins and Ethereum (ETH). This fact means that:
đ It will be difficult for bears to dump the exchange rate of virtual currencies;
Rich people foresee a bullish rally and want to launch assets.
Judging by the chart published by Ju, recently Solana (SOL), Cosmos (ATOM) and Polygon (MATIC) have been in the greatest demand among cryptocurrencies. The least interest is shown in Ave (AVE), Bancor (BNT) and BNB (BNB)#AVA #bancor #BNB
Chart reflecting the difference between the volume of orders to buy and sell cryptocurrencies over the past year (green color means the dominance of orders to buy assets, and red â for sale).
In addition, the data released by Ci indicates that all cryptocurrencies from Dogecoin (DOGE) and below the chart may become cheaper with a higher probability than digital assets located above Dogecoin.
It is noteworthy that in the bitcoin market there is a parity between the amount of open positions for buying and selling coins. This means that neither bears nor bulls manage to take the initiative and break through the barriers of support or resistance.
