Crypto Whales Accumulate $230 Million in Ethereum: Analyst
A well-known analyst reveals that large cryptocurrency whales have purchased hundreds of millions of dollars worth of Ethereum (ETH) in the past week. The analyst, Ali Martinez, shares on Twitter that deep-pocketed traders have acquired over 100,000 ETH, equivalent to $230 million.
Ethereum is currently trading at $2,171. Meanwhile, Shiba Inu (SHIB), a meme-inspired cryptocurrency often compared to Dogecoin (DOGE), appears poised for an upward rally. Martinez notes that SHIB has broken its diagonal resistance and could potentially reach $0.0000140 if it maintains support at $0.0000103.
Lastly, Martinez analyzes the smart contract protocol Fantom (FTM). He suggests that FTM’s network growth indicates increasing demand for the token. With a rising number of new addresses and a bullish trend in network growth, FTM’s price may soon reflect this surge in user interest.
Fantom is currently trading at $0.39.
Hot Take: Crypto Whales Bullish on Ethereum and Altcoins
Crypto whales continue to make significant moves in the market, with Ethereum being a primary target for accumulation. The surge in purchases by these influential investors indicates a positive sentiment towards ETH and its potential for growth. Additionally, altcoins like Shiba Inu and Fantom are also attracting attention, as they show signs of breaking out and gaining momentum. This activity from crypto whales suggests that they anticipate significant price increases in these assets. As always, it’s essential to stay informed and monitor these trends for potential investment opportunities.
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