High net worth investors are quietly putting capital into some cryptos amid the recent bullish happening at the flagship crypto market.
Unsurprisingly, all the cryptos seen by Nairametrics recording high cash inflows are based and built on Ethereum, and the amount of each held by the high net worth investors addresses has hit one-year highs in the previous week, according to a crypto analytics firm – Santiment.
As investors give the world flagship crypto the much-needed attention, Bitcoin’s market price has been ranging between $12.7k and $13.3k, as crypto whales of many respective $ETH-based #altcoins have added to their non-exchange bags. $ETH, $LINK, $REN, $ELF, $KNC, & $ZRX are among those recently hitting one-year highs.
🐳 With most eyes on #Bitcoin's market price between this $12.7k and $13.3k range, whales of many respective $ETH-based #altcoins have added to their non-exchange bags. $ETH, $LINK, $REN, $ELF, $KNC, & $ZRX are among those recently hitting one-year highs. https://t.co/JRk8mdEaAx pic.twitter.com/2J2wTDy2Ox
— Santiment (@santimentfeed) October 26, 2020
What you should know
All seems to be going well for these crypto’s derivative Ethereum. At the time of writing this publication, Ethereum traded at $387.51 with a daily trading volume of $10,620,097,122.
- ETH price is up 0.2% in the last 24 hours. It has a circulating supply of 110 million coins and a max supply of ∞ coins.
- There are good news and bad news for #Ethereum’s quest to again surpass the $420 price barrier.
- The good news is that miners aren’t selling, and there is a big increase in new $ETH addresses being created, and pre-existing addresses have shown increased inactivity.
- The bad news is that social sentiment is bordering on the euphoric territory, and daily active deposits have jumped in a big way.