Advertisement
AD

Main navigation

Massive Crypto Whales Are Back in Business, Analyst Expects Major Movements

Advertisement
Tue, 1/11/2022 - 1:53
Massive Crypto Whales Are Back in Business, Analyst Expects Major Movements
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to the market intelligence and on-chain analysis firm Santiment, huge crypto whales — making transactions of over $100,000 — have just increased.

Advertisement

Furthermore, the market intelligence firm added that the “most significant” transactions are Tether (USDT) and USD Coin (USDC). Santiment expects “major market movements,” according to a tweet.

According to a U.Today report earlier this month, data provided by the blockchain analysis firm CryptoQuant shows that Ethereum (ETH) whale investors have been influencing the asset’s price for a long time now.

Data showed that the whales could manipulate ETH’s price by depositing the token onto exchanges and selling at certain points while the prices are elevated.

On Oct. 30, a huge Ethereum whale transferred 19,999.9985 ETH — worth roughly $31.6 million at the time of writing — to the largest crypto exchange by trading volume, Binance, according to Etherscan data.

Similar whale movements could possibly show signs of another bearish market trend. Another reason for whales to move massive amounts of crypto assets to centralized exchanges might be that they are looking for liquidity.

However, it’s not just altcoin whales making big moves. According to a Benzinga report, a Bitcoin (BTC) whale moved a whopping amount of roughly 2,181 BTC — worth approximately $44.7 billion at the time of writing.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD