Bitcoin entered a new phase of development ahead of the April halving and broke through resistance above $71,000. According to the Whale Last Active indicator of 7 ~ 30 days, we have seen an increase in whale activity since the beginning of March 2024. Historically, this has been a precursor to significant bullish runs in the market.
Over 3 months, whales and sharks purchased $319,310 BTC, but small and medium-sized BTC holders - up to 100 coins on their balance sheets - sold 105,260 BTC in January-March, reducing reserves by 0.7% of Bitcoin turnover. Redistribution of BTC in favor of whale and shark wallets before halving is a bullish signal.
Investments in crypto are growing. Cryptocurrency-based investment products attracted $646 million last week, according to a CoinShares report. Total revenues since the beginning of the year increased to $13.8 billion.
According to IntoTheBlock, institutional interest in digital assets related to artificial intelligence projects has been growing since the beginning of the year. The most successful were $FET, $AGIX, $OCEAN and $RLC: their capitalization reached $2.25 billion, $1.38 billion, $649 million and $246 million.
It's worth paying attention to Solana. The successful combination of low interest on social media and a neutral RSI suggests that Solana has the potential to resume growth in the coming days.
Solana and Base account for 43% and 38% of all DEX listings, according to The Block data. At the same time, the share of Ethereum fell to 2%.
