Whales Rejoice in Panic and Buy ETH and LTC?
Shutterstock/Elzza
Main page Analytics, Litecoin, Altcoins, Ethereum, Cryptocurrency
Hot topic
5 December
47 47

The new report by the company Diar shows that the volume of ownership of ethereum coins by the top 500 investors has increased by 80% from January to early December.

This means that as of January, 1 this year, a group of addresses had 11 million ETH, and 11 months later this figure rose to 20 million. They are currently in circulation, having invested $100 million of additional funds in these tokens over the past months.q

It is likely that the major players follow a specific and extremely simple strategy. They buy cheap digital assets over and over again, despite the fact that their price continues to fall. Moreover, the purchase of coins increases. In the fourth quarter, the demand for ETH, which went down to minus by 90% from the historical maximum, increased by 2.7 times compared to the third quarter.

This action plan is supported by panic selling carried out on the market by retail investors who decide not to take any more risks and quit the game. Earlier, ethereum lost the second line in the capitalization rating of CoinMarketCap, having gone to third place.

Chart of the Day: Whales control 20% of all ethereum, around $2.3B

A similar situation is observed among litecoin holders. In late November - early December, a trend was observed for a sharp increase in demand for LTC. The turnover of this virtual asset began to increase by an average of $550 million per day. At the same time, most transactions accounted for only 40 new digital wallets.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error
Close