The cryptosphere has latched onto its price metrics in search of a massive alt season. That could take your board assets to the moon, which have been craving the push. Successively, crypto folks have been looking at investment options, time frame of a peak season, consideration of whales, among others.
In succession, a proponent of the coin market sheds light on the peak of altcoins and the star cryptocurrency Bitcoin. The proponent cites that since Bitcoin is in line with the trajectory of gold from 1999-2011. It is still far from the rising wedge for a top, which would be in 2023. Conversely, alternatives have been following dotcom and are on the rising wedge, which would fuel bullish pressure in 2022. Conversely, ETH, ADA , and DOT have emerged as potential alternatives for whales.
Are the whales betting big on these altcoins?
Ethereum is a digital asset, which BTC whales, rather than any whale, would not fail to consider. Due to its dominance on the public services front, despite the limitations that have slowed expansion to a defined perimeter. However, most of the restrictions will be removed after the merger with ETH 2.0. Also, a positive update for the community arrives as Twitter adds the Ethereum wallet to the tip jar.
Speaking of numbers, the daily net exchange flow on the Ethereum chain is now +76.5M. While the ETH balance on exchanges has reached a 3-month high of 14,646,625.967 ETH. Average transaction volume (7D-MA) has reached a monthly low of 0.091 ETH. Additionally, the average rate paid (7D-MA) has reached a 5-month low of $19.73.
On the other hand, the number of ETH withdrawals on exchanges (7D-MA) has hit a 20-month low of 865,125. The average price of gasoline for (7D-MA) has reached a monthly low of 78,994 Gwei. Conversely, the rising stakes in ETH 2.0 deposit contracts could also be fueled by whales to a large degree.
Cardano with its solid fundamentals, robust developments, along with its PoS mechanism, level of decentralization, and environmentally friendly initiatives. Makes it an ideal bag for not only BTC whales, but other larger whales as well.
The on-chain metrics previously cited by CoinPedia had outperformed Bitcoin and Ethereum. With higher 24-hour transaction volumes, adjusted transaction volumes, and lower fees. However, the current trading volume for 24 hours is $18.03. While the adjusted transaction volumes are at $33.67B, which is below Bitcoin.
The realized market cap is currently at $36.11B, which is gradually moving south from the peaks. Active addresses are 3,416,249, while the 24-hour count is 219,514. Successively, the addresses that have a balance greater than $10 M are located at 495, while those greater than $1 M are located at 3690. While the number of addresses with balances greater than $100 thousand is located at 27,886.
Polkadot with its parachute auctions has attracted the interest of the masses, including retailers and deep pocket whalers. In addition, the success of the projects that have acquired slots has persuaded more projects, thus stiff competition has become evident. Also, energy efficient and green features along with Web 3.0 have been fueling its prominence.
Learning from sources, the 24-hour active supply is 134,813,847.37, while the 24-hour active addresses are 24,205. Addresses with a balance greater than $10M are at a count of 291. The numbers are at 1132 for balances greater than $1M, while 4064 addresses have balances greater than $100k. Which indicates to retailers that they have a bigger bag of DOT.
DOT is priced about 64.66% below its ATH, and the healthy market cap makes it a potential stock for whales. Strong fundamentals, developments, and utility make it an even more attractive purchase.
In short, the aforementioned digital assets are ideal to store and store for retailers and whales. The larger investors holding the assets will eventually persuade more retailers and institutions to follow suit. With a peak season looming on the horizon, these soaring towerers are poised to soar to greater heights.
This post BTC whales stacking ETH, ADA and DOT, 40% gains ahead of altcoin season?
was published first on https://coinpedia.org/news/btc-whales-stacking-eth-ada-and-dot/