xrp cryptocurrency price

Smart Money Whales Have Accumulated Over $2,664,000,000 Worth of One Altcoin: Crypto Insights Firm Santiment

Smart Money Whales Have Accumulated Over $2,664,000,000 Worth of One Altcoin: Crypto Insights Firm Santiment
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Crypto insights firm Santiment says that wealthy crypto investors have been hoarding heavily in a single, highly capitalized coin as the markets undergo price drops.

Santiment tells its 117,000 Twitter followers that whales, or wallets containing between 1 million and 10 million XRP, have amassed more than 19 million of the eighth-largest cryptocurrency in the past three months.

XRP is currently priced around $0.81, but smart money millionaires have maintained their one-year trend of accumulating more supply. Addresses with 1 million to 10 million XRP hold 3.31 billion, including a 6% increase in their holdings in the past three months.”

source: Santiment / Twitter

XRP is trading at $0.81 at the time of writing, indicating that smart money whales now own more than $2.66 billion in XRP.

Santiment also has its eye on Ethereum (ETH). According to the analytics company, the drop in Ethereum transaction fees may encourage users to participate in the network.

“Now, we may see a new wave of interest in ETH driven by lower (er) barriers to entry. New addresses interacting with ETH are showing the same (forked) pattern.

Early to say, but might it be a sign of a renewed core strength of the second largest coin? “

Source: Santiment

Looking at Bitcoin, the cryptocurrency analytics firm says there is a bullish sign looming in its fearful and skeptical market. According to Santiment, trader sentiment indicates that BTC is already forming support.

“With Bitcoin temporarily dropping back below $48,000, trader sentiment has now slipped back into bearish territory, as people are now skeptical of a return to mid-November prices. Historically, negative sentiment is an early sign of Bitcoin price decline.”

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source: Santiment / Twitter

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Featured Image: Shutterstock / Tithi Luadthong / Natalia Siiatovskaia

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