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Tag: Whales

  • Ethereum Whales Signal Bullish Run With $40 Million Bet

    Ethereum Whales Signal Bullish Run With $40 Million Bet

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    Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, is experiencing a surge in optimism in the cryptocurrency market. The emergence of two new whales, according to crypto tracking platform Spot On Chain, further adds to the bullish sentiment surrounding Ethereum.

    These whales have collectively withdrawn a substantial amount of ETH, totaling nearly 11,700 coins, worth approximately $40 million, from leading cryptocurrency exchange Binance.

    Their significant purchase, made when ETH was priced around $3,450, indicates their confidence in the potential for further price appreciation.

    Ethereum Trading Volume Soars

    The cryptocurrency market is experiencing a surge in optimism, fueled by a strong performance from Ethereum (ETH) and the looming Bitcoin halving event.

    ETH has seen its price jump nearly 10% in the past 24 hours, reaching $3,679 as of today. This impressive gain is accompanied by a significant rise in trading volume, which has spiked by nearly 70%, surpassing $15 billion.

    Source: Coingecko

    Meanwhile, Ethereum’s impressive rally is not an isolated event. The broader cryptocurrency market is experiencing a period of bullish momentum. Bitcoin, the undisputed leader, has also witnessed a significant surge, climbing above the $72,000 mark. This upward trend is largely attributed to the anticipation surrounding the upcoming Bitcoin halving, scheduled for approximately 11 days from now.

    The Bitcoin halving is a pre-programmed event that occurs roughly every four years. It reduces the number of new Bitcoins awarded to miners for verifying transactions on the network.

    Historically, these halving events have been followed by substantial price increases for Bitcoin, as the reduced supply often leads to increased demand and scarcity. Investors are hoping for a similar outcome this time around, contributing to the current marketwide rally.

    Renewed Optimism Grips Crypto Investors

    The recent surge in prices and trading volumes across the cryptocurrency market suggests renewed optimism and bullish sentiment among investors. Analysts and experts are anticipating further price gains for both Ethereum and Bitcoin in the coming days and weeks.

    Featured image from Pexels, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



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  • Can Whales Drive ADA’s Resurrection From Recent Dump?

    Can Whales Drive ADA’s Resurrection From Recent Dump?

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    The Cardano price has been facing a significant amount of bearish pressure over the past week, declining by more than 12%. This recent fall coincides with a broader crypto market downturn, with other major altcoins suffering huge losses over the past week.

    Specifically, Cardano’s price decline has been largely linked to the recent sell-off of all ADA holdings by the Grayscale Digital Large Cap Fund (GDLC). On Thursday, April 4, the fund disclosed its decision to rebalance its portfolio by liquidating its Cardano assets (about 1.6% of the entire holdings).

    Registering such a negative start to April after an underwhelming performance in March doesn’t do well to dispel the increasing concerns of investors. Moreover, the latest on-chain data suggests that the Cardano price might continue to succumb to the bearish pressure.

    Analyst Predicts ADA Price Slump As Whale Activity Slows Down

    Popular crypto pundit Ali Martinez has shared a post on X that Cardano whales have been making fewer moves in the market in recent days. This revelation is based on Santiment’s Whale Transaction Count metric, which tracks the number of ADA transactions worth more than $1 million.

    Whales refer to entities or individuals that own significant amounts of a particular cryptocurrency (Cardano, in this case). They are often viewed as key players in the market, as their buying or selling activities can have a significant impact on the Cardano price, leading to speculation and potential market shifts.

    According to Martinez, the on-chain data shows that there has been a noticeable dip in the activity of Cardano whales, suggesting a possible decline in significant ADA transactions. In an almost vertical move, the whale transaction count dropped from around 400 daily transactions at the beginning of last week to 200 daily transactions by Friday, April 5.

    Cardano Price

    Chart showing ADA whale transaction count, whale holdings, and price | Source: Ali_charts/X

    The crypto analyst mentioned that the recent downturn in whale activity could be a signal for “further price consolidation” or an imminent decline in the Cardano price. A loss of substantial buying activity from large investors can cause the cryptocurrency to succumb to bearish pressure, especially from small traders looking to take some profit.

    Indeed, the Cardano token has made a positive start to the year, reaching a high of $0.8 in early March. However, the altcoin has been on a downward trend since hitting the 2024 peak – collapsing under the pressure of Bitcoin’s price decline.

    Cardano Price At A Glance

    As of this writing, the Cardano price stands at around $0.577, reflecting a 1% decline in the past 24 hours.

    Cardano Price
    Cardano price hovers around $0.58 on the daily timeframe | Source: ADAUSDT chart on TradingView

    Featured image from iStock, chart from TradingView

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Ethereum Whales Quietly Filled Up On ETH While Broader Market Panicked

    Ethereum Whales Quietly Filled Up On ETH While Broader Market Panicked

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    Ethereum crumbled with the market during the last crash and is yet to recover to previous levels. The crash was characterized by sell-offs and liquidations from all angles, which continued even when the price dumped further. Fear of a bear market sparked this as investors wanted to get out before the price fell further. But not everyone followed this trend of dumping.

    Whales have always been known to move differently from smaller investors when it comes to the crypto market and this time was no different. While investors panic sold their holdings at low prices, these whales quietly gobbled up the ETH being dumped on the market, increasing their dominance in the market once again.

    Whales Fill Up On ETH

    In the last few weeks, whales have taken advantage of the declining market values to buy cryptocurrencies at what can be essentially said to be a discount. The price of Ethereum had dumped as low as $2,100 following the crash, leaving even more room for the whales to increase their holdings. Smaller investors had followed suit but only after whales had bought hundreds of millions of dollars worth of ETH.

    Related Reading | Bitcoin Whales Take Advantage Of Market Crash To Gobble Up Millions In BTC

    During this time, the number of addresses holding more than 10,000 ETH on their balances had also increased significantly. These whales had altogether purchased more than $500 million in ETH in only a couple of weeks.

    Ethereum price chart from TradingView.com

    ETH recovers to $2,400 post-crash | Source: ETHUSD on TradingView.com

    This renewed support from whales and smaller investors had worked to slow down the decline of the digital asset. But proved to be not enough to spark a rebound back up to previous values. Despite growing support from these large investors, the market has remained in extreme fear, pointing to intense wariness from investors. This has caused them to hold back from putting any more money in the market.

    Ethereum Struggles To Stay Afloat

    Since the crash towards the low $2,100, Ethereum has had a hard time recovering in the market. While a bounce-back that was triggered by pioneer cryptocurrency bitcoin saw it recover above $2,400, it has not recorded much in the way of upward momentum since then.

    Related Reading | Which Cryptocurrencies Suffered The Worse Collapse Since All-Time Highs?

    Indicators point to the week playing out with continued low momentum for the second-largest cryptocurrency by market cap. It had previously tested the $2,700 point on Wednesday but had promptly taken a beating down that brought it back to $2,400.

    ETH is trading below its 5-day, 20-day, 100-day, and 200-day moving averages for the first time in a year. Market sentiments remain bearish with more downtrend expected to come as support from whales taper off.

    As of the time of writing, the digital asset is trading at $2,461, down 2.97% in the last 24 hours. Trading volume is up significantly over the same time period but is yet to translate into a higher value for the asset.

    Featured image from Nairametrics, chart from TradingView.com

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  • Introducing White Whale’s IDO: THE BOOTSWAP

    Introducing White Whale’s IDO: THE BOOTSWAP

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    Over the last few months, there have been several token launches on Terra. What has been noted, is that there have been two major challenges that continue to occur. First, the initial liquidity pools are just not deep enough. This causes an outrageous manufactured initial price pump, making all the insiders feel really good, but is quite unfortunate for the retail buyer as they are not part of that initial purchase. The second issue is that as soon as the token goes live, all the liquidity at the initial list price is sniped by bots in the first seconds, again forcing the retail buyer to buy in at higher levels.

    White Whale has designed an initial token launch model that addresses both of these issues while at the same time bootstrapping our own protocol owned liquidity efforts… it is called “THE BOOTSWAP”

    So what is a BOOTSWAP?

    Here’s how it works, White Whale is utilizing the latest, freshly audited, open-sourced LBP code graciously provided to the community by the Astroport team. An LBP, or Liquidity Bootstrapping Pool, is a mechanism for launching tokens originally utilized by Balancer that is designed to defer bot activity by starting the token price high and allowing it to float down to price discovery over a pre-set period of time, say 72 hours. LBP’s are also utilized as fundraising tools as the team provides the initial liquidity at a disproportionate ratio, say (98/2 token/stablecoin) and as the tokens are sold the ratio eventually balances out to whatever target ratio is set by the team in the parameters (i.e. 20/80 token/stablecoin), allowing them to claim the stablecoins and so raise capital from the difference.

    This is how it generally works, however at White Whale they are taking a slightly different approach. The team from White Whale has been signaling their intention to pursue Protocol Owned Liquidity for some time now, with that said, unlike most other LBP events, White Whale’s BOOTSWAP event will not be a token sale or fundraiser in any way. Absolutely none of the profits from the event will go to the White Whale team or incubating entities. The team funds will be deposited into the LBP pool (along with WHALE tokens) initially, and at the end of the LBP event, when the liquidity pool balances at our predetermined ratio of 50/50 UST/WHALE, same as your standard LP token… all of that liquidity will migrate straight to TerraSwap and will serve as the perpetual trading liquidity for the UST/WHALE pair. All of the corresponding LP tokens will be deposited into the White Whale War Chest and be owned by the protocol.

    So what does this mean?

    1. From its inception, White Whale should own the lion’s share of its own liquidity. That’s right… POL right from the start, and
    2. It means that because this is not a sale or raise and all of the funds are going straight into the community-owned treasury, there will be no KYC requirements or trading restrictions for this event!

    Questions that are commonly asked are: how does this benefit the regular retail buyer if the price already starts high? What if it stays high and never comes down? White Whale has thought this through and developed a solution for this scenario. Their goal is to distribute WHALE tokens at fair and honest levels to retail buyers. In order to do so, rather than being another project who under-fills the initial pools to manufacture a pump, the plan is to overshoot demand with our initial pool size. They will be depositing 100 million WHALE tokens into the LBP to start. Their reason for this is arguably refreshing – “Because F#&% The Bots, that’s why. They believe this will give everyone who wants to buy liquid WHALE tokens on the first days of trading an opportunity to do so at good levels without all the juicy initial liquidity being stolen by the bots. The starting price will be $1.00, so if bots want to snipe, that’s the price they will be sniping at. It will then float down to price discovery over a period of 72 hours, or until the target ratio is met

     

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  • Whales Are Building Their Positions On Derivatives

    Whales Are Building Their Positions On Derivatives

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    On-chain data shows whales are sending their Bitcoin from spot exchanges to derivatives, indicating that they are building up their positions.

    Bitcoin Whales Build Up Their Positions On Derivative Exchanges

    As pointed out by a CryptoQuant post, Bitcoin whales seem to be moving their crypto from spot exchanges to derivative exchanges.

    The relevant indicator here is the “all exchanges to derivative exchanges flow mean,” which shows the total amount of coins being transferred from spot exchanges to derivative exchanges.

    When the value of this metric shows continuous high values, it means a lot of Bitcoin is being regularly moved to these derivative exchanges, which may hint that whale activity has been going on.

    Low values would imply not many coins are moving in this direction, and could either be staying still, or be rather going the opposite way: from derivatives to spot.

    Now, here is a chart that shows the trend that this indicator has followed over the last couple of years:

    Bitcoin Whales

    The BTC all exchanges to derivatives flow mean vs the price | Source: CryptoQuant

    The above graph has different regions marked based on whether whales seemed to be accumulating at that time or not.

    Related Reading | Despite New ATH, Bitcoin Exchange Reserves Continue To Decline

    The green regions were when the price was mostly moving sideways and the indicator had the whales sending a lot of BTC to derivatives.

    Following these periods of accumulation, the price had always shown a jump up during the period of the above chart.

    However, once the indicator’s value became very low, BTC’s price has seemed to have made a top after which its value dipped down.

    Related Reading | Lucky Buyers Possibly Bag $8K Bitcoin During Early Morning Flash Crash

    Now, as is apparent in the graph, the current trend makes it look like whales have just started another phase of accumulation. This could turn out to be bullish for the future price.

    BTC Price

    At the time of writing, Bitcoin’s price floats around $61.5k, up 2.7% in the last seven days. Over the past month, the crypto has accumulated 42% in gains.

    The below chart shows the trend in the price of the coin over the last five days:

    Bitcoin Price Chart

    BTC's price seems to be rapidly plunging down | Source: BTCUSD on TradingView

    After setting a new all-time high (ATH) of $67k, Bitcoin has been sharply going back down in the past couple of days. It’s unclear at the moment which trajectory the coin might follow next, but if the spot to derivatives flow mean is anything to consider, whales seem to be accumulating. This could help the price bounce back up and set it up to reach higher ATHs.

    Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

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  • Shrimps, Sharks, Whales and Other Fish in Crypto

    Shrimps, Sharks, Whales and Other Fish in Crypto

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    End of September the world celebrated World Maritime Day. The Crypto industry has always been connected to fish-themed concepts, and that comes from conventional trading, where market participants are graded based on their knowledge, experience and success.

    The Crypto boom gave birth to a whole ranking chart of Bitcoin holders and those holding other cryptocurrencies in Bitcoin equivalent:

    • Shrimp: less than 1 BTC
    • Crab: 1 to 10 BTC
    • Octopus: 10 to 50 BTC
    • Fish: 50 to 100 BTC
    • Dolphin: 100 to 500 BTC
    • Shark: 500 to 1000 BTC
    • Whale: >1000 BTC
    • Humpback: >5000 BTC

    It became a cult: in the ICO explosion of 2017-2018, there was a surge of projects with a fish concept and still new ones appear.

    Among the projects that are still addressing the marine concept are:

    🐋 Whale Alert — the most advanced blockchain tracker and analytics system reporting large and interesting transactions as they happen with all the data available through API.

     

     

    **🌊 Ocean Protocol** — an open-source protocol that aims to allow businesses and individuals to exchange and monetize data and data-based services. Ocean’s software is built to facilitate this data exchange, linking users who need data or do not have resources to store it, with those who have resources to spare.

     

    🐬 True Flip — the best 2020 online casino according to Askgamblers, with the dolphin protagonist that has been releasing quality products and developing gamification for 4 years, all built on killer whales, stingrays, jellyfish and a dozen other thoughtful characters. The casino started as a blockchain lottery with the TFL token, and not so long ago the team announced the token to become an independent project within the group.

    🦈 Baby Shark Token (no, it’s not that song) — a token designed to help clean the ocean by using decentralized fundraising. With its unique tokenomics, BabyShark aims to be the first charity token with zero selling pressure from donations.

    🐙 Octopus Protocol — a robust DeFi protocol built on the Binance Smart Chain (BSC), allows issuance, trade, and management of decentralized derivative assets.

    Will this and other tokens continue to develop as “fish” ones or choose something else — we will probably find out later. One is clear: alongside the recently arrived DeFi ranking of Chads, Apes, etc, the classical ocean theme scale of the crypto users will be staying with us forever.

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