Crypto whales increase their holdings in Ethereum, Pepe, and ONDO
Release: 2024/08/03 16:10 Reading: 806
Crypto whales are accumulating more Ethereum (ETH), Pepe (PEPE), and ONDO, indicating potential price surges. This bullish trend stems from increased institutional buying, which often attracts retail investors and sustains price momentum.
On Ethereum, whales have significantly increased their netflow by 167%, reflecting a greater influx of ETH purchases over sales. This influx suggests positive sentiment and could result in price appreciation.
In the case of PEPE, a surge in whale addresses holding between 10,000 and 10 million tokens signals increased investor interest and potential price hikes. However, it's crucial to note that PEPE's Market Value to Realized Value (MVRV) ratio suggests overvaluation, indicating potential profit-taking and downward price pressure.
Ondo (ONDO) has witnessed a steady influx of large holders over the past 30 days, suggesting institutional accumulation. Continued buying pressure from ONDO whales throughout August could significantly drive up its price.
In conclusion, the interest of crypto whales in Ethereum, Pepe, and ONDO highlights their potential for price increases.
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