XRP Whales Increase, ETH Whales Decreases
Increased BTC whale activity
There has been increased BTC whale activity during September to the present day, despite the current bear market. The intermittent BTC bullish momentum is most likely a result of whales that are purchasing BTC in large quantities.
From 27 September the wallets that hold between 100 BTC and 10,000 BTC have a total amount of over 46,173 BTC. The whales are accumulating BTC during this period, probably buying the dip and hodling. Notably, the increase in BTC whale activity coincides with a decrease in Tether USD whale activity.
BTC Whale activities- Cryptonews
XRP Whales
Over the last two weeks XRP maintained a bullish momentum because the market expects a positive settlement between Ripple Holdings and the US Securities and Exchange Commission (SEC) on the lawsuit pertaining to the alleged securities fraud. Santiments reports that there are whales and sharks that hold between 10 million and 100 million XRP since 2020.
Whale Alert reports that there has been movement of large volumes of XRP among wallets as a result of its recent rally. In fact, it points out that over 70,339,320 million XRP had been moved among from exchanges to unidentified wallets.
Large amount of XRP moved
Here is another example of a transfer large sum of XRP, a sign of whale activity.
XRP transfer – Whalealert
These examples of the transfer of large amounts of XRP within the last few days are just a tip of the iceberg. The reason is that there are many more such transfers of XRP from one wallet to another.
SHIB Whales
Whales hold large quantities of SHIB tokens due to its popularity. At the time of writing, a total of 1, 221, 998 wallets hold SHIB. There are more than 100 SHIB whales with an average holding of 1, 960 billion SHIB, equivalent to about $21,055,523. According to Whalestats, whales hold 20% of the total supply of SHIB. The following graph shows whale activity of SHIB since July, 2022.
SHIB whale transactions- Whalestats
However, the statistics show a decline in whale activities, as the amount of SHIB holding has decreased in October. Notably, most SHIB whales also hold large amounts of ETH, Tether USD, GateChainToken (GT) and Chain.
Ethereum (ETH) Whales
ETH is in the hands of many whales as well. As a fact, the top 5,000 Ethereum wallets hold an average of 7,463 ETH, translating to about $10,394,837 per wallet. However, there has been a decline in whale activity from mid September up to the present. The reason for this could be the transition of the Ethereum blockchain from the proof-of-work to the proof-of-stake (PoS) consensus mechanism that took place on 15 September 2022.
ETH whale activity- Whalestats
According to Santiment, there was a sharp increase in ETH wallets in recent days.
Source: Santiment
BSC whale activities
There are also many whales who hold and trade the Binance Chain Token. As a fact, BNB Chain has over 4 000 whales who hold an average of 387 BNB, worth about $362, 049 per wallet. The BNB Chain whale activity was constant for a month now, from 10 September 2022 to the present day.
BNB Chain Whale activity- Whalestats
Despite the bear market there is massive accumulation of different cryptocurrencies on the market.
