In a recent analysis, it was observed that ‘Ethereum whales’ are rapidly selling their holdings, unlike their Bitcoin counterparts. This news comes despite both cryptocurrencies trading in the red.
As per the report by crypto analyst sunnydecree on Tuesday, large Ethereum holders are seen aggressively offloading their ETH piles, a situation not mirrored by Bitcoin whales.
Data from Santiment confirms this divergence, showing top Ethereum addresses and exchanges accumulating more ETH while Bitcoin whales remain stable. Currently, about 8.5% of the total ETH supply is on exchanges, while Bitcoin’s exchange reserves are nearing multi-year lows.
The steadfastness of Bitcoin whales indicates a long-term conviction even in bearish conditions. In contrast, Ethereum holders seem more willing to sell or rotate into other assets when prices fall.
This behavior suggests a relative decline in confidence among ETH mega-holders compared to resilient Bitcoiners with a more inelastic supply. However, this could be a strategic move by Ethereum whales to reposition before a potential bull run.
While the strongest holders from both camps appear ready to accumulate more during this period of discounted prices, data reveals Bitcoin whales exhibiting greater reserves of patience and commitment, vital for long-term value storage.
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