Whales are buying Bitcoin, Fantom and selling Shiba inu token

Bitcoin whales accumulation

Data are showing that big players are no longer in favour of the Shiba Inu token purchase, instead, they are moving toward Ethereum rival blockchains. 

In the crypto market, people have always taken steps with new and innovative projects instead of following old crypto projects or short-term vision-based projects because they know very well that money always exists with trends and innovations. Here we can ignore Bitcoin from this fact because Bitcoin is the standard of the crypto industry as a base cryptocurrency.

According to the data available by WhaleStats, the majority of the top 100 ETH wallet holders are showing huge interest in Fantom (FTM). Fantom secured its position in the top 10 crypto assets by the whales. 

Right now the price of FTM is $1.45 and this price is 5.5% high over the last 24 hours trade price, while 14.4% down over the last 30 days trade price, which is an unexpected downturn for the ecosystem of Fantom.

Interest by such 100 ETH holders’ wallets also showed that they are getting out of the Shiba Inu meme boat because they are no more positive with this Dogecoin rival. The current price of the Shiba Inu token is $0.00002663 which is 8% high over the last 24 hours and this price is 9.26% high over the last 30 days trade price, which is still a better positive sign over Fantom but only in terms of price.

Besides this analysis, crypto & blockchain analytics platform Santiment noted that Bitcoin whales are continuously accumulating Bitcoin and this accumulation rate has been high since the Russia vs Ukraine war. 

The current momentum of the crypto market is showing bullish nature to move toward a big pump because the majority of the crypto assets are recovering rapidly and this is a sign that last year’s bull run still has some remaining fun for this crypto industry. 

The current crypto fear and greed index is 60, which is hinting that people are rapidly moving toward buy pressure but at the same time huge sell risk is in existence, as a usual event.

Read also: Mt.Gox CEO says exchange trustee may return $6B worth of Bitcoins to former users