Who are Crypto whales?
Crypto whales are individuals or entities that hold large sums of crypto in the millions or even billions of Dollars , If these entities decide to move their crypto they an cause a dynamic shift in the market`s forces of demand and supply.
According to blockchain tracking service Whale Alert, crypto whales have transferred hundreds of millions of dollars worth of Ethereum (ETH) and Shiba Inu (SHIB).In multiple transactions within hours of each other th ecoins worth hundreds of millions of dollars, were transfrerd to unknown multiple wallets..
Recent Actitity
Whale Alert obtained on-chain data on Ethereum that shows a large crypto holder moved 150,000 ETH in three separate transactions to the Kraken exchange.
At the time of the transfer, the total value of the ETH moved was approximately $269.8 million. The transfers were made in three chunks seach approximately 50,000 each.
In the case of Shibainu ($SHIBA) on-chain data retrieved shows nearly 4.5 trillion SHIB estiamted at about $36 million was moved from from an unknown wallet to another unknown wallet.
On-chain data also shows that large crypto holders relocated varying amounts of XRP exacly 75,300,000 approximating $42 million to unkown wallets and Solana (SOL), 1,600,000 worth $55.74 million making a combined value of over $98 million, according to Whale Alert.
Conclusion
Could all these transfers be a result of the current price pump all throughout the crypto market . whereas it is too early to tell but seems like the crypto market is experiencing a sort of pre bull market which is unusual at this time of the year.
