Lưu trữ cho từ khóa: whales

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Toncoin turns bullish, whale transactions decline

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Toncoin is witnessing bullish sentiment for the first time after the recent price plunge amid declining whale transactions.

According to data provided by IntoTheBlock, the bullish sentiment around Toncoin (TON) has increased over the past 24 hours. 

TON recorded a 4.7% surge in the past 24 hours and is trading at $5.6 at the time of writing. The asset’s market cap surpassed the $14 billion mark, overtaking Tron (TRX) to become the ninth-largest cryptocurrency.

TON price – Aug. 29 | Source: crypto.news

The native token of The Open Network saw a 99% increase in its daily trading volume, reaching $1.3 billion.

Toncoin took a deep dive from $6.8 to $5.3 on Aug. 25 when Pavel Durov, the founder and CEO of Telegram, was arrested at an airport near Paris. Per a crypto.news report on Aug. 28, Durov faced six charges including terrorism and child abuse content, and is under supervised release.

Data from ITB shows that the number of whale transactions consisting of at least $100,000 worth of TON declined from 2,100 on Aug. 26 to 864 on Aug. 28 as the bearish momentum around the asset showed signs of a cooldown.

TON whale activity – Aug. 29 | Source: IntoTheBlock

Moreover, the number of TON tokens in retail addresses — holding less than 0.1% of the asset’s supply — increased from 438 million to 591 million coins, marking a new all-time high. 

At this point, the Toncoin whale concentration has declined by 3%, dropping to 88% of the total supply.

On Aug. 27, the number of TON daily active addresses reached an ATH of 2.23 million unique wallets with 43.82 million non-zero addresses.

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Whales accumulated 13m TON while the price was falling

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The detention of Pavel Durov, the founder and CEO of Telegram, increased the Toncoin selling pressure while large whales continued their accumulation.

According to data provided by IntoTheBlock, 92% of the Toncoin (TON) supply is held by whales and investors holding over 0.1% of the asset’s 5.1 billion total supply. The remaining 8% of TON tokens are currently sitting in retail addresses, holding less than 0.1% of the total supply.

TON whale accumulation – Aug. 26 | Source: IntoTheBlock

Data shows that large TON holders accumulated 13.14 million tokens as the asset’s price plunged below the $6 mark — hitting a local bottom of $5.32 — on Aug. 25. 

The Toncoin price plunged 20% after Durov was arrested in France where he might face up to 20 years in prison. TON’s market cap suddenly decreased by $3.8 billion, making it fall from the eighth to 11th spot among leading cryptocurrencies.

However, TON soon started to recover some of its losses as the crypto community started showing support for the Telegram founder. 

Toncoin is up by 2% in the past 24 hours and is trading at $5.62 at the time of writing. The asset’s market capitalization surpassed the $14 billion mark with a daily trading volume of $1.2 billion.

TON price and RSI – Aug. 26 | Source: crypto.news

Notably, TON briefly touched an intraday high of $5.93 earlier today but couldn’t hold longer due to increased selling pressure.

Data shows that Toncoin is slightly oversold at this price point with a Relative Strength Index of 44. High price fluctuations could be normal for TON as fear surrounds the asset.

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Bitcoin

Bitcoin reaches $61k, old coins enter chain

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Bitcoin has finally breached the $61,000 mark again after a week of bearish consolidations. 

Bitcoin (BTC) is up by 4% in the past 24 hours and is trading at $61,050 at the time of writing, with its market cap surpassing the $1.2 trillion mark for the first time in the past week.

BTC price, whale activity, RSI and dormant circulation – Aug. 20 | Source: Santiment

Moreover, Bitcoin’s daily trading volume increased by 49%, reaching $29 billion. Following the price surge, old BTC holders have started making movements. According to data provided by Santiment, Bitcoin’s five-year dormant rose from 117 BTC to 728 BTC over the past day.

Additionally, the asset’s one-year dormant circulation increased from 1,806 BTC to 6,759 BTC in the same timeframe, showing that long-term Bitcoin holders might be looking for potential profits at this price point.

Data from the market intelligence platform shows that the number of whale transactions consisting of at least $100,000 worth of BTC rose from 5,041 to 7,565 unique transactions over the past 24 hours. Short-term profit-taking is usually expected in similar conditions due to the increased whale activity, trading volume and old BTC movements.

On the other hand, the Bitcoin Relative Strength Index remains below the 50 mark, indicating that the flagship cryptocurrency is not overbought despite the price surge. 

Bitcoin’s bullish momentum has triggered a market-wide surge. Per data from CoinGecko, the global cryptocurrency market capitalization increased by 2.8% over the past 24 hours and is currently sitting at $2.24 trillion.

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Theo Crypto News

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Whales keep accumulating Aave as prices hit overbought levels

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Whales have been accumulating Aave as its price started to rise over the past week, though the token has now entered the overbought zone.

According to data provided by IntoTheBlock, whales holding over 1% of Aave’s (AAVE) circulating supply have accumulated a total of 9.74 million tokens, accounting for over 60% of the AAVE total supply.

AAVE’s large holders’ inflow also increased over the past 24 hours, reaching 291,000 tokens, per ITB data, showing increased interest from whales as the AAVE price recorded an impressive 44% run in the last 30 days.

Data also shows an increased large Aave holders’ outflow, reaching 271,000. However, due to the rising price, the movement cannot be attributed to whales’ selling pressure. Instead, the indicator might show heightened withdrawals from exchanges.

According to Santiment, the number of whale transactions consisting of at least $100,000 worth of AAVE increased by over six times since Aug. 18, reaching 153 unique transactions in the past 24 hours alone.

AAVE price, RSI and whale activity – Aug. 21 | Source: Santiment

As the AAVE price and whale accumulation surge, its Relative Strength Index enters the 70 mark, per Santiment data. The indicator shows that the asset is currently overbought and short-term profit-taking could be natural from both small and large token holders.

AAVE is up 7% in the past 24 hours and is trading at $137.2 at the time of writing. Despite the current price rally, AAVE is still short by 79% from its all-time high of $666 in May 2021. The native token of the Aave protocol is currently the 44th-largest cryptocurrency with a market cap of over $2 billion. 

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Theo Crypto News

Altcoin

Ethereum gas fees drop to all-time low amid declining whale activity

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Ethereum’s gas prices and whale activity have declined as its price dropped below the $2,600 mark.

According to an X post by CryptoQuant, the daily mean gas price on the Ethereum (ETH) network plunged to an all-time low of 2.9 Gwei, worth around $0.026, on Aug. 18. The average ETH gas price recorded a mild hike and is currently sitting at 3 Gwei.

Data shows that only 115 ETH, worth around $300,000, were burned as gas prices hit an ATL. ETH’s price consolidated around the $2,600 mark amid market-wide uncertainty.

One of the main reasons behind the steep decline in the price of Ethereum gas is the Dencun upgrade, which was launched in March of this year. Dencun allowed layer 2 networks to execute their data blobs on the Ethereum mainnet, causing a significant fee drop.

However, the CryptoQuant analyst claims that the declining network fees could potentially cause long-term problems such as “user and liquidity fragmentation.” 

The analyst pointed out that the ETH supply has increased by 197,000 tokens while the price plunged 35% despite the approval of the long-awaited spot ETH exchange-traded funds in the U.S.

Ethereum’s whale activity has also been declining alongside its fees. According to data from Santiment, the number of whale transactions consisting of at least $100,000 worth of ETH has consistently fallen over the past week — dropping from 5,371 on Aug. 12 to 2,138 unique transactions at the time of reporting.

ETH price and whale activity – Aug. 19 | Source: Santiment

ETH is down by 3% in the past 24 hours and is trading at $2,580 at the time of writing. Its daily trading volume, however, increased by 32%, surpassing the $10 billion mark.

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Theo Crypto News

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94% of TRX holders in profit amid quick price recovery

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The majority of TRON holders are currently in profit but mixed social and on-chain signals have been dominating the asset.

TRON (TRX) is up by 2.2% in the past 24 hours and is trading at $0.136 at the time of writing, while its market cap is currently sitting at $11.8 billion with a daily trading volume of almost $300 million, per data from crypto.news.

TRX price, open interest, funding rate and sentiment – Aug. 19 | Source: Santiment

Santiment metrics reveal that TRX’s price surge from $0.126 has led to a significant increase in total open interest over the past week, climbing from $47 million on August 12 to $71 million at the time of reporting, reaching a five-month high.

A sudden surge in TRX’s open interest could potentially mean higher liquidations that can cause high price fluctuations.

Data from the market intelligence platform shows that the total funding rates aggregated by TRX rose to 0.012% after falling to the negative zone on Aug. 18. Historically, TRX faces a price correction despite traders’ bullish stance on the asset. Quite similarly, the weighted sentiment around TRON remains mostly bullish, per Santiment.

TRON’s high concentration raises volatility risks

According to data provided by IntoTheBlock, roughly 94% of TRX holders are currently in profit despite the price being 55% down from its all-time high of $0.30 in January 2018. Only 3% of TRX addresses have accumulated the asset between $0.136 and $0.166 and the remaining tokens are neither in profit nor at loss.

When the amount of holders in profit reaches a very high level, some addresses could potentially take profits before the price declines.

It wouldn’t be surprising if TRX faces high price volatility due to its token concentration. Per ITB data, over 56% of Tron tokens are sitting in whale wallets and 34% belong to retail investors. While on-chain indicators show the possibility of a price downturn, TRX could still hike due to increased positive sentiment on social platforms.

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Theo Crypto News

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Bitcoin triggers bullish sentiment among investors, long-term holders

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Bitcoin briefly touched a local high of $60,100 earlier today and is currently hovering at around $58,894 at last check Sunday.

The leading cryptocurrency is up for three straight days, but still in a consolidation phase.

Bitcoin (BTC) daily trading volume decreased by 42% and is currently hovering around $14.7 billion.

BTC price, whale activity and dormant circulation – Aug. 18 | Source: Santiment

When an asset’s trading volume declines, it’s usually a sign of a cool-down and lower price volatility.

According to data provided by Santiment, Bitcoin’s five-year dormant circulation is currently sitting at 104 BTC, one of the lowest levels seen this year.

Notably, this metric rose to 16,592 BTC on July 23 when the Bitcoin price was hovering around the $66,000 mark.

Moreover, the asset’s one-year dormant circulation plunged from 6,040 BTC on Aug. 15 to 1,412 BTC at the reporting time. 

The declining dormant circulation often hints at long-term holders’ profit-taking and is usually increased during high price points. At this point, long-term Bitcoin addresses have either taken profits or gone back to sleep.

Per data from Santiment, the number of whale transactions consisting of at least $100,000 worth of BTC has been consistently decreasing over the past three days — dropping from 9,295 on Aug. 15 to 5,309 unique transactions at the reporting time.

Declining whale activity often decreases an asset’s price volatility as token holders expect a lower chance of whale price manipulations.

According to a crypto.news report on Aug. 17, spot Bitcoin exchange-traded funds in the U.S. closed the week with over $36 million in net inflows. This was one of the main reasons behind the bullish sentiment around BTC that helped it recover the $59,000 mark.

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Theo Crypto News

Altcoin

Ethereum looks bullish, whale activity declines

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On-chain indicators look bullish for Ethereum as the whale activity around the asset declines.

Ethereum (ETH) declined by 3.8% in the past 24 hours and is trading at $2,620 at the time of writing. The asset’s market cap is currently sitting at $315 billion. ETH’s daily trading volume, however, increased by 3%, reaching $15.6 billion.

ETH price, funding rate, open interest, RSI and whale activity – Aug. 15 | Source: Santiment

According to data provided by Santiment, the Ethereum total open interest decreased from $5.28 billion on Aug. 12 to $5.05 billion at the reporting time. Usually, lower price volatility would be expected with the decline in an asset’s open interest due to a lower amount of liquidations.

Data from the market intelligence platform shows that the total funding rates aggregated by ETH plunged below the zero market for the first time since October 2023 — currently sitting at negative 0.0002%.

Historically, a negative funding rate has triggered a short-term bullish momentum for Ethereum despite traders expecting a price fall.

Per Santiment, the number of whale transactions consisting of at least $100,000 worth of ETH has been constantly decreasing over the past three days — falling from 5,371 on Aug. 12 to 4,346 unique transactions over the past day.

Moreover, the Ethereum Relative Strength Index is also showing that the asset is slightly oversold — currently hovering at the 42 mark. It’s important to note that a further selloff could trigger FUD and take the ETH price further below.

One of the main reasons behind the recent decline in the ETH price is the Jump Trading selloff. The company has already accumulated over $64 million ETH tokens from different platforms and looks ready for sale. 

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Theo Crypto News

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Bitcoin could see short-term price surge amid increased whale activity

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Bitcoin has been moving sideways recently, but a key indicator shows a potential price surge might be ahead.

The Bitcoin (BTC) price has been consolidating close to the $59,000 mark over the past day with a brief surge to $60,680 earlier. BTC is up by 0.6% in the past 24 hours and is trading at $58,900 at the time of writing.

BTC price, whale activity, funding rate, exchange activity and dormant circulation – Aug. 13 | Source: Santiment

Moreover, the flagship cryptocurrency witnessed a 24% increase in its daily trading volume, currently hovering around $34.8 billion. 

According to data provided by Santiment, the total funding rate aggregated by Bitcoin plunged to negative 0.0016% — showing that traders are betting on the asset’s price fall. However, the BTC price has historically recorded short-term gains as the funding rate dropped to the red zone.

Data from the market intelligence platform shows that Bitcoin also saw increased whale activity. Per Santiment, the number of whale transactions consisting of at least $100,000 worth of BTC rose from 5,148 to 8,234 unique transactions over the past 24 hours.

At this point, whales are showing their readiness for short-term profit-taking.

According to data from Santiment, the Bitcoin exchange inflows increased by 119% in the last day — rising from 20,255 to 44,323 BTC tokens. The asset’s exchange outflow also surged from 24,911 to 40,378 Bitcoins in the same timeframe.

Notably, the 365-day BTC dormant circulation also increased from 1,402 to 4,444 BTC tokens over the past day, per Santiment. The movement shows that long-term Bitcoin holders might try to take profits at this price point.

Spot Bitcoin exchange-traded funds in the United States recorded $27.8 million in inflows on Aug. 12. This also adds to Bitcoin’s bullish momentum after a bearish start to August.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News