Crypto insights firm Santiment says that deep-pocketed Ethereum investors have started aggressively accumulating ETH after four months of inactivity.
The accumulation spike comes after a nearly four-month-long stagnation period dating back to the end of last year.
“Ethereum’s key stakeholders are showing some accumulation, adding 142,000 more ETH to their bags over the past 10 days.
After a long dump going back to mid-December, this is the most sustained level of accumulation we’ve seen in over four months.”
“Binance Coin has seen its largest grouping of whale transactions since early March. When $100,000+ transactions spike, as they are now, it typically foreshadows price direction changes. Be cautious, as the largest spike occurred at a local top.”
Furthermore, the analytics firm is warning investors that the heavy volatility displayed across crypto markets over the weekend should continue as the Federal Reserve’s next interest rate hike decision approaches.
“Crypto markets have retraced significantly this weekend, particularly altcoin prices. If you have been waiting for major price volatility, expect for it to continue into Monday and Tuesday as the Fed approaches their May interest rate hike decision.”
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/MoVille
The post Ethereum Whales Have Accumulated $407,415,040 in ETH in Just 10 Days: Analytics Firm Santiment appeared first on The Daily Hodl.