https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Crypto Whales: Massive Bitcoin and YFI Accumulation?, Forex-News, Forex-News
Bitcoin
$19,232.27
+391.62
Ethereum
$597.86
+4.55
Litecoin
$89.33
+2.58
DigitalCash
$106.49
+1.16
Monero
$128.53
-1.23
Nxt
$0.01
-0
Ethereum Classic
$6.29
+0.04
Dogecoin
$0.00
-0

Crypto Whales: Massive Bitcoin and YFI Accumulation?

6
, Crypto Whales: Massive Bitcoin and YFI Accumulation?, Forex-News, Forex-News


, Crypto Whales: Massive Bitcoin and YFI Accumulation?, Forex-News, Forex-News

Crypto whales started the week quite actively with cryptocurrencies like ETH, BTC, YFI, LINK. Therefore, this time we want to give you a summary of their activity, but it seems that so far the accumulation of BTC and YFI predominates in the actions of crypto whales.

From Monday 14th to 16th September 2020, 746,563 ETH, 49,600 BTC, 562 YFI and 6,816,607 LINK have been mobilized. The predominant trend regarding BTC and YFI is accumulation, but we will develop the details below.

, Crypto Whales: Massive Bitcoin and YFI Accumulation?, Forex-News, Forex-News
Summary chart of crypto whale activity with ETH, BTC, YFI and LINK from September 14-16, 2020, where Bitcoin and YFI accumulation predominates. Source: Whale Alert

Ethereum and Link: no accumulation

Right now it seems that crypto whales don’t want to accumulate ETH or LINK. Rather, they mobilize their tokens between unknown wallets and then partially take them to exchanges for profit.

, Crypto Whales: Massive Bitcoin and YFI Accumulation?, Forex-News, Forex-News

According to reports from Whale Alert, there have been ten operations using ETH since Monday. However, 85.50% of the total was simply transferred between unknown wallets. In the case of LINK, the trend was similar, with 83.87% transferred between unknown wallets.

Evidently, ETH movements have increased considerably since the rise of DeFi found on the Ethereum blockchain, and that is why we could explain the 108,189 ETH that entered from unknown wallets to exchanges.

YFI and Bitcoin are being hoarded by crypto whales

In contrast to the other cryptocurrencies described above, the trend of crypto whales with respect to YFI and BTC has been predominantly cumulative. In the period described, 18 operations with BTC and 11 with YFI have been reported.

81.48% of the total BTC mobilized has been accumulated by Bitcoin whales. This translates to 40,461 BTC that passed from exchanges to unknown wallets.

In the case of YFI, the trend is less definitive, since out of 862 tokens mobilized, only 471 were accumulated (54.64%). However, even if only narrowly, it is still predominant.

YFI hit its all-time high on September 12, and has since had a pullback, but it’s still more valuable than BTC right now. According to CoinMarketCap, this cryptocurrency changes hands at a price of 34,866.27 USD (-4.85% in 24 hours).

Meanwhile, in the case of Bitcoin, the Bitcoin whales may have further supported its small rally. By accumulating they drew liquidity from the market, and in 24 hours BTC has risen 1.92%, reaching 10,977.46 USD according to CoinDesk. This is all at the time of writing this post.

, Crypto Whales: Massive Bitcoin and YFI Accumulation?, Forex-News, Forex-News
Bitcoin price chart from September 14 to 16. Source: CoinDesk

Final comments

Obviously this is just a brief summary of the activity of crypto whales with the main cryptocurrencies available in the market. The accumulation of Bitcoin is notorious, and to a lesser extent that of YFI. However, in the case of YFI, we may be about to witness liquidations to take advantage of economic benefits before it can continue to decline.

With regard to ETH and LINK, factors such as the performance of decentralized finance can change the trend from one moment to the next. Therefore, it is necessary to maintain constant monitoring in this regard. The monitoring that we do from CryptoTendency will always be available to you, in order to facilitate your understanding of the impact of crypto whales on the cryptocurrency ecosystem.



, Crypto Whales: Massive Bitcoin and YFI Accumulation?, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Crypto Whales: Massive Bitcoin and YFI Accumulation?, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More