{"id":518343,"date":"2023-02-01T15:00:11","date_gmt":"2023-02-01T15:00:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=518343"},"modified":"2024-06-11T11:24:31","modified_gmt":"2024-06-11T11:24:31","slug":"bitcoin-ethereum-whale-activities-plummets","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-ethereum-whale-activities-plummets\/","title":{"rendered":"Bitcoin and Ethereum Whale Activities Plummet – Are Whales Getting Bored?"},"content":{"rendered":"

Over the past few weeks, Bitcoin and Ethereum have moved significantly, initiating a bull run. While the rally seems to be nonstop, one thing worth noting is that the frontline cryptos seem to be lagging behind at the backend. On Tuesday, On-chain analysis platform Glassnode<\/span> reported<\/span><\/a> that whale participation on Bitcoin and Ethereum is fading away.<\/span><\/p>\n

\"BTC
BTC Amount of Supply Last Active 3y 5y. | Source: Glassnode<\/a><\/figcaption><\/figure>\n

The <\/span>Bitcoin<\/span> amount of supply last active for 3-5 years has recorded a two-year low. Glassnode added that total Ethereum wallets holding 10,000 ETH tokens and above have also plummeted to a 1 month low.\u00a0<\/span><\/p>\n

Bitcoin And Ethereum Whale Activities Drops<\/span><\/h2>\n

As reported by Glassnode, Bitcoin\u2019s 3-5-year supply had dropped to a two-year low, at 2,144,828.279 BTC, lower than its previous low, which was around 2,144,844.528 BTC. <\/span><\/p>\n

Ethereum whales have also followed suit. The number of wallets holding 10,000 ETH and more <\/span>dropped to a one-month low<\/span><\/a> of 1,194 ETH.<\/span><\/p>\n

\"BTC
BTC Amount of Supply Last Active 3y 5y. | Source: Glassnode<\/a><\/figcaption><\/figure>\n

The lowest level recorded before this figure was 1,195 <\/span>ETH <\/span><\/a>which was seen as of January 30, 2023. Following the Glassnode report, communities in the crypto market are beginning to wonder and suggest that whales might be getting bored. However, Bitcoin and Ethereum are part of the crypto assets that have gained significantly since the beginning of the year.\u00a0<\/span><\/p>\n

Related Reading: Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet<\/a><\/div>\n

Bitcoin, in particular, after dropping by over 50% from its all-time high amid the crypto winter, is beginning to indicate a rebound as it has recently crossed the $23,000 mark. Similarly, Ethereum, after dropping nearly 60% from its peak, has recently crossed $1,600, achieving a two-month high since bear season.<\/span><\/p>\n

Furthermore, Glassnode said that the number of <\/span>Bitcoin<\/span> wallets holding at least 1,000 BTC plummeted to a three-year low of 2,027, affirming the concept that whales might be lacking interest in Bitcoin, the largest crypto by market cap.\u00a0<\/span><\/p>\n

Are Whales Getting Bored?<\/span><\/h2>\n

Though it may seem like whales are getting bored, given the proven report from Glassnode, both crypto assets are still moving significantly in price and trading volume. <\/span><\/p>\n

Over the past 30 days, Bitcoin trading volume had surged from $12.9 billion, seen early last month when BTC traded at the $16,000 region to above $31.9 billion with a market price ranging above $23,000.<\/span><\/p>\n

Related Reading: Time To Sell Bitcoin And Crypto? \u2018Big Short\u2019 Michael Burry Tweets \u2018Sell\u2019<\/a><\/div>\n

Its market cap also mirrored the upward movement surging by 39% in the past 30 days from $322 billion as of January 1 to $443 billion on February 1. <\/span><\/p>\n

Similarly, <\/span>Ethereum<\/span><\/a> trading volume has spiked from its $3.5 billion 24-hour trading volume seen earlier this year to $7 billion recorded in the past 24 hours. ETH’s market cap has also increased 31.8% in the last 30 days from $146 billion on January 1 to $190 billion as of February 1.<\/span><\/p>\n

\"ETH
ETH price is moving sideways on the 4-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Meanwhile, ETH is currently in an uptrend at the time of writing, up by nearly 1% in the last 24 hours. The price chart indicates a further upward momentum as after a retracement comes a reversal.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Bitcoin, on the other hand, is up 1% in the last 24 hours. Looking at the <\/span>price chart<\/span><\/a>, BTC has been consolidating for the past few days. Should the price move away from the consolidation zone, we could see a significant movement either to the upside or downside.<\/span><\/p>\n

Featured image from Unsplash, Chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

Over the past few weeks, Bitcoin and Ethereum have moved significantly, initiating a bull run. While the rally seems to be nonstop, one thing worth noting is that the frontline cryptos seem to be lagging behind at the backend. On Tuesday, On-chain analysis platform Glassnode reported that whale participation on Bitcoin and Ethereum is fading away. The Bitcoin amount of supply last active for 3-5 years has recorded a two-year low. Glassnode added that total Ethereum wallets holding 10,000 ETH tokens and above have also plummeted to a 1 month low.\u00a0 Bitcoin And Ethereum Whale Activities Drops As reported by Glassnode, Bitcoin\u2019s 3-5-year supply had dropped to a two-year low, at 2,144,828.279 BTC, lower than its previous low, which was around 2,144,844.528 BTC. Ethereum whales have also followed suit. The number of wallets holding 10,000 ETH and more dropped to a one-month low of 1,194 ETH. The lowest level recorded before this figure was 1,195 ETH which was seen as of January 30, 2023. Following the Glassnode report, communities in the crypto market are beginning to wonder and suggest that whales might be getting bored. However, Bitcoin and Ethereum are part of the crypto assets that have gained significantly since the beginning of the year.\u00a0 Related Reading: Ethereum Price Holds Ground And Sees Fresh Rally, Bulls Are Not Done Yet Bitcoin, in particular, after dropping by over 50% from its all-time high amid the crypto winter, is beginning to indicate a rebound as it has recently crossed the $23,000 mark. Similarly, Ethereum, after dropping nearly 60% from its peak, has recently crossed $1,600, achieving a two-month high since bear season. Furthermore, Glassnode said that the number of Bitcoin wallets holding at least 1,000 BTC plummeted to a three-year low of 2,027, affirming the concept that whales might be lacking interest in Bitcoin, the largest crypto by market cap.\u00a0 Are Whales Getting Bored? Though it may seem like whales are getting bored, given the proven report from Glassnode, both crypto assets are still moving significantly in price and trading volume. Over the past 30 days, Bitcoin trading volume had surged from $12.9 billion, seen early last month when BTC traded at the $16,000 region to above $31.9 billion with a market price ranging above $23,000. Related Reading: Time To Sell Bitcoin And Crypto? \u2018Big Short\u2019 Michael Burry Tweets \u2018Sell\u2019 Its market cap also mirrored the upward movement surging by 39% in the past 30 days from $322 billion as of January 1 to $443 billion on February 1. Similarly, Ethereum trading volume has spiked from its $3.5 billion 24-hour trading volume seen earlier this year to $7 billion recorded in the past 24 hours. ETH’s market cap has also increased 31.8% in the last 30 days from $146 billion on January 1 to $190 billion as of February 1. Meanwhile, ETH is currently in an uptrend at the time of writing, up by nearly 1% in the last 24 hours. The price chart indicates a further upward momentum as after a retracement comes a reversal.\u00a0 Bitcoin, on the other hand, is up 1% in the last 24 hours. Looking at the price chart, BTC has been consolidating for the past few days. Should the price move away from the consolidation zone, we could see a significant movement either to the upside or downside. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":518350,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361,3,83362,13625],"tags":[428,1119,14690,8323,1946],"class_list":["post-518343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","category-news","category-eth","category-ethereum","tag-bitcoin","tag-btc","tag-crypto-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\nBitcoin and Ethereum Whale Activities Plummet - Are Whales Getting Bored?<\/title>\n<meta name=\"description\" content=\"Over the past few weeks, Bitcoin and Ethereum have moved significantly, initiating a bull run.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/bitcoin-ethereum-whale-activities-plummets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin and Ethereum Whale Activities Plummet - 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HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. 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HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/uniquehot.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin and Ethereum Whale Activities Plummet – Are Whales Getting Bored?","url":"http:\/\/uniquehot.com\/news\/bitcoin-ethereum-whale-activities-plummets\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-ethereum-whale-activities-plummets\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-1-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-1-scaled.jpg?fit=2560%2C1854"},"articleSection":"BTC","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","crypto news","eth","ethereum"],"dateCreated":"2023-02-01T15:00:11Z","datePublished":"2023-02-01T15:00:11Z","dateModified":"2024-06-11T11:24:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin and Ethereum Whale Activities Plummet – Are Whales Getting Bored?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-ethereum-whale-activities-plummets\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-ethereum-whale-activities-plummets\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin-1-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin-1-scaled.jpg?fit=2560%2C1854\"},\"articleSection\":\"BTC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"crypto news\",\"eth\",\"ethereum\"],\"dateCreated\":\"2023-02-01T15:00:11Z\",\"datePublished\":\"2023-02-01T15:00:11Z\",\"dateModified\":\"2024-06-11T11:24:31Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/02\/Bitcoin-1-scaled.jpg?fit=2560%2C1854","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/518343"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=518343"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/518343\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/518350"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=518343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=518343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=518343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}