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🐳 The decline in overall whale activity across most crypto assets has become more and more noticeable. Peak 2024 $100K+ transaction weeks for BTC & ETH compared to recently:Data from Santiment reveals a stark contrast in whale activity between March and August 2024. During the week of March 13-19, Bitcoin recorded an impressive 115,100 whale transactions, each valued at $100,000 or more. However, by Aug. 21-27, this number had almost halved to 60,200 transactions.
Santiment added that overall, among activity by whales, there remains a steady flow of accumulation despite fewer overall transactions. August closed in the negative for most crypto assets; Ethereum closed the month down 22.6%. Expectations remain bearish for September, which is typically bearish not just for crypto but across all asset classes.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
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