Meanwhile, the top 10 EXCHANGE whale addresses continue falling, with only 3.57 [million] $ETH. This ratio is the highest since the asset’s inception.”
Source: Santiment/Twitter
Ethereum is currently priced at $3,245, meaning that the non-exchange whales hold more than $83.39 billion worth of $ETH.
With $11.58 billion of $ETH in their own bags, the exchanges hold less than 14% compared to the non-exchange whales.
Santiment next looks at the Bitcoin ($BTC) chart and the prevalence of “bull market” versus “bear market” mentions across social media in order to gauge the overall crypto market pulse.
“Our social trends data confirms that the trading crowd feels very much as though crypto is in an official bear market.
Mid-May was the last time bearish sentiment was this prevalent, which is a very promising sign that weak hands are capitulating.”
Source: Santiment/Twitter
Bitcoin last touched the $50,000 level back on December 27th, and even briefly dipped below $40,000 this past Sunday.
$BTC is currently up 3.33% on the day and trading for $42,840.
The crypto insights firm says that whale transactions worth more than $100,000 have declined significantly for both $BTC and $ETH.
“Major whale transactions aren’t quite coming at the frequency they were in October or November.
Our metrics indicate that the $BTC network is getting around 13k transactions per day that exceed $100k in value.
$ETH’s network is seeing about 9k per day.”
Source: Santiment/Twitter
dailyhodl.com
