A well-known crypto market analyst has reported that in recent weeks, high-net-worth investors have been accumulating Ethereum (ETH) and Ripple (XRP), while withdrawing approximately 1 billion dollars’ worth of Bitcoin (BTC) from cryptocurrency exchanges. In a statement made on social media, the analyst pointed out that about 25,000 BTC has been withdrawn from known exchange wallets in the last two weeks.
At the time of writing, Bitcoin is trading at $37,215, down 1.5% in the last 24 hours. The analyst emphasized the crypto whales’ particular interest in Ethereum, noting that high-net-worth traders have been accumulating ETH for the first time in nine months, which could be a strong signal for a potential rise.
Regarding Ripple, the analyst’s statements revealed that on-chain data shows whales have purchased about 11 million XRP last week, valued at approximately 6.82 million dollars. These purchases are also considered a positive indicator for Ripple.
Thus, in the last two weeks, high-net-worth investors have been accumulating Ethereum and Ripple, pulling a significant amount of Bitcoin from the cryptocurrency exchanges. The article notes that Ethereum was trading at $2,047 and XRP at $0.612 at the time of writing.
In conclusion, the recent activities of crypto whales, especially regarding Ethereum and Ripple, indicate a positive market sentiment, and investors are showing great interest in these two cryptocurrencies.
