Looks like the Whales are still not getting enough of Bitcoin Ethereum and Ripple because as in April, the demand has only intensified!
Despite the highly volatile month of April, the cryptocurrency whales have actually accumulated large portions. On-chain data has revealed that famed and large BTC addresses have broadened their holdings by nearly 100,000 coins in some weeks. This has also been seen in the case of ETH and XRP.
For Bitcoin, April has been on a historic basis a good month always but this year the tables have turned. But the Bitcoin whales have not let volatility affect their resolute to accumulate the primary cryptocurrency. Santiment has in fact categorized these Whale addresses as ‘uber large’ and also pointed that they continue to get richer and accumulate as price range. It also confirmed that BTC whales had purchased 90,000 Bitcoins since April 5th.
Santiment data has further shown that demand for a few altcoins has also increased this month. The number of Ethereum whales has also seen a new record level of 1,311. Ethereum Whales have more than 80 million coins, and the total circulating supply is 115,650,000. This implies that roughly 70% of ETH’s current supply is held by 1,311 addresses.
After the SEC also alleged that the payment processor of conducting unregistered security sales, whales had dumped a good portion of their holdings. But it seems that the whales have their appetites revived.
Apart from the brief surge followed by a subsequent sharp retracement, Bitcoin has indeed remained calm around $54,500. Compared to this, some altcoins continue by posing strong gains against it and have also reduced the primary cryptocurrency’s market dominance to below 49%. The metric comparing BTC’s marketcap with all other crypto assets is down to a new year 3-year low beneath 49%.
Ethereum has also led the charge with some impressive gains. The second-largest crypto spiked to a new all-time high above $2,700. This data is crucial for the coming time, and it needs to be seen where it is heading now! Watch this space for more.