It’s been just revealed that the Bitcoin whales have been accumulating ETH and they are now holding record levels of the coin according to Santiment.
Santiment said that Bitcoin whales who hold “between 100 and 10,000 BTC” started accumulating amid the price crash.
“… the whale trend is continuing to be accumulating. Over the past couple of days it hasn’t been, but since the start of the crash they’ve been moving up. They could afford to be early and that seems what they are doing,” Santiment says.
“Bitcoin’s fear, uncertainty, and doubt (FUD) remains high, as traders are polarized on whether prices can push back below $30k again,” according to the notes.
They continue and note that “For now though, prices have jumped back on crowd fear. Markets move in the opposite direction of crowd expectation.”
The online publication the Daily Hodl notes that the crypto analytics firm further argues that Bitcoin was the better asset to hold relative to altcoins as prices fell.
“Those who have stayed strong in Bitcoin on the crypto downswing have been relatively rewarded compared to high-risk altcoin traders,” they said.
They continued and said that “BTC has fallen just -4.5% the past 3 days through the volatility, while $DOGE (-26.1%) & other alts have dropped hard.”
We suggest that you check out more details about all this in the original article.
Regarding the price of ETH, at the moment of writing this article, ETH is trading in the red and the coin is priced at $1,777.69.
Ethereum in the news
In other news, it’s been revealed that Ethereum is making headlines due to the latest achievement. It’s been just revealed that the Bank of Israel, the Israeli Central Bank today announced they would use Ethereum blockchain technology for its CBDC pilot program, as reported by Bloomberg.
The first trial for digital Shekel is set to be an internal pilot run as per the country’s financial daily Globes.
The deputy governor of the Israeli central bank Andrew Abir said that the digital shekel will pose no risk to the banking system.