Cryptocurrency Analytics Platform Identifies Bullish Signals for Ethereum, Shiba Inu, and Fetch.ai
Cryptocurrency analytics platform Santiment has identified three digital assets that it believes have long-term bullish prospects. According to Santiment, Ethereum (ETH), Shiba Inu (SHIB), and Fetch.ai (FET) are all experiencing a decrease in supply held on exchanges by their top 10 holders. This reduction of holdings on exchanges is seen as a positive signal for the future performance of these cryptocurrencies.
Reduction in Holdings on Exchanges
Santiment reports that the top 10 largest wallets of Fetch.ai have decreased their FET holdings on exchanges by 26.1% over the past three months. Similarly, the top 10 holders of Ethereum and Shiba Inu have reduced their holdings on exchanges by 4.3% and 2.7%, respectively, in the last 90 days.
Current Prices
At the time of writing, Ethereum is trading at $2,306, Shiba Inu at $0.0000106, and Fetch.ai at $0.729. Fetch.ai has seen a significant increase in price, rising by 259% from its October 23rd price of $0.203.
Ethereum Supply on Exchanges Reaches New Low
Santiment recently reported that the supply of Ethereum on exchanges has reached a new low since the official launch of the cryptocurrency. This indicates that large exchange wallets are moving their coins into smaller wallets or taking them off exchanges entirely.
Hot Take: Positive Signs for Ethereum, Shiba Inu, and Fetch.ai
The reduction in supply held on exchanges by the top 10 holders of Ethereum, Shiba Inu, and Fetch.ai is seen as a bullish long-term signal. This suggests that these cryptocurrencies may experience positive price movements in the future. Additionally, the decrease in Ethereum supply on exchanges indicates a potential shift towards long-term holding strategies among investors. Overall, these trends indicate growing confidence and optimism in the prospects of these digital assets.
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