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Santiment analysts found an increase in the number of coins on large USDT addresses.
🐳🦈 Whales and sharks provide alpha through #stablecoin behavior, just as they do with their $BTC and #altcoin accumulation and dumping. In the last month, addresses with 10k to 10m #Tether have added $1.06b in buying power, 2.7% of the total supply. 🤑 https://t.co/nBa8wBvmKi pic.twitter.com/aGvs8rZX3x
– Santiment (@santimentfeed) March 6, 2022
According to their observations, over the past month, the total value of stablecoins at addresses with a balance of 10,000 USDT to 1 million USDT increased by $1.06 billion. This is 2.7% of the total supply of “stable coins” from Tether.
The company is convinced that major players are seeking to acquire digital gold at a lower price. By accumulating stablecoins against the backdrop of a falling bitcoin, the whales are “increasing their purchasing power.”
Analysts also saw a net outflow of BTC from centralized exchanges “for 21 out of 26 weeks.”
📊 #Bitcoin continues to see coins moving off of exchanges while prices are near a 6-month bottom. Interestingly, 21 of the past 26 weeks saw $BTC moving more off of exchanges than on to exchanges. Look for major outflow spikes as price rise indicators. https://t.co/Jl0GZqfBlF pic.twitter.com/6Btqp4F7Vl
– Santiment (@santimentfeed) March 7, 2022
Among other things, experts noted an increase in the supply of Ethereum at “whale” addresses against the backdrop of a decrease in the price of the second cryptocurrency in terms of capitalization.
🐳 #Ethereum‘s #billionaire addresses (holding 1m to 10m $ETH) have shown nice price alpha, historically. Currently, these addresses hold 21.6% of all $ETH. They have accumulated 2.2% more of the supply over the past 6 months despite the price correction. https://t.co/DVFx8xFHLq pic.twitter.com/j4C1WQ2asd
– Santiment (@santimentfeed) March 7, 2022
Addresses with balances between 1M ETH and 10M ETH currently hold 21.6% of the total Ether supply.
Earlier, Glassnode analysts noted the steadfastness of bitcoin hodlers amid the war in Ukraine.
#whales #hoarding #USDT #buy #bitcoin #cheaply
