In addition to storing digital assets, Crypto wallets tell stories about the occurrence or trend of the cryptocurrency market. More interesting is the story of whales, a wallet, a bigger participant. Tracking of these addresses can provide insight into market sentiment. Often acts as a quiet signal of the future trend. For example, one of the biggest cryptocurrencies, Ethereum and Cardano, seems to be talking about two different stories.
Branch path -Ethics whales go out slowly while ADA GIANTS enters
In X's recent post, Alphractal CEO and founder Joao Wedson, a social media platform, shared the chain insights about the difference in whale activities between Ether Leeum and Cardano.
The relevant indicators here are ETH and ADA large holders sharing TOP100 metrics, tracking the percentage of the total consumables of Cardano owned by Ether Lee and the best wallets. This metrics are especially useful for identifying whether the main holder accumulates or distributes coins.
Source: @joao_wedson on X
In X's post, Wedson pointed out that the top 100 holders of ether tokens are continuously reducing their possession. Analysts explained that since May, their share of Ether Leeum has dropped from 22%to about 19.6%. This means that a large -scale investor's stake has decreased 2.9 million ETH over that period.
Source: @joao_wedson on X
Wedson, meanwhile, emphasized that the top 100 ADAs are accumulating every day. He explained that the signal is a signal that a strategic position is occurring in anticipation of a strong rally in the future, showing trust in the tokens.
What can this mean?
Crypto Pundit pointed out that these big addresses are related to the exchange, but they do not remove that Cardano is more attractive. “From this point of view, Cardano looks more attractive based on big athletes, ”Wedson said.
WEDSON, which looked like a prominent advice, began the importance of closely following the wise movement of this encryption whale, as it can reveal where the market is heading.
In the press time, Ether Leeum, the king of Altcoin, reflects a 0.6%price increase over the last 24 hours, with about $ 3,766. According to Coingecko data, ETH's price was more than 3% last week.
Cardano, on the other hand, is worth $ 0.8297, reflecting a 0.6%price increase over the last 24 hours. The seven -day behavior of the ADA was also hardly impressive, and it ended a week with a loss of about 1.5% of its value.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Chart of TradingView, the main image of Unsplash
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