Cryptocurrency whales, or large investors, are buying hundreds of millions of ether, since analysts point out an organic rotation of the investor mentality to Altcoins with more upward potential.
Nine “Mass” whales of “massive” whales bought a cumulative value of $ 456 million (ETH) of Bitgo and Galaxy Digital, the Blockchain Arkham data platform said on a Tuesday X mail.
The growing demand for whales for the second largest cryptocurrency in the world indicates the “natural rotation” of the market in Ether and other Altcoins with more upward potential, according to Nicolai Sondergaard, research analyst of the Crypto Nansen intelligence platform.
“Much of this seems like a natural rotation, investors are blocked in the profits of Bitcoin’s Run and move to other tokens to capture the upside potential,” the analyst told Cointelegraph, adding:
“Ether in particular benefits because it has a strong current mentality and an impulse from Ether Treasury companies.”
While the recent movements of ether whales are “notable”, the “broader trend is simply that the flows are extending beyond Bitcoin as market participants seek the next movement,” said the analyst.
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Even so, Bitcoin’s growing profits can be a precursor of more “mental investor” focusing on Ether, Sondergaard added.
The cryptographic analyst Willy Woo also pointed out the growing capital rotation of Bitcoin (BTC) to the ether.
“The flow to eth, at 0.9b USD per day (silver), is now approaching BTC (orange) entries,” the analyst wrote on a Tuesday X mailAnd he added that the last ticket streak “began when Eth Treasury Co, Bitmine de Tom Lee, began his accumulation of eth.”
These comments occurred a week after a Bitcoin whale worth more than $ 11 billion sold $ 2.59 billion in Bitcoin, rotating the funds in a spot ether of $ 2.2 billion and a perpetual position of ether of $ 577 million in the hyperllic of decentralized exchange, Coingraph reported.
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Smart money merchants are buying Altcoins: Nansen data
The most successful cryptocurrency merchants in the industry by returns, tracked as merchants of “smart money” on the Nansen blockchain intelligence platform, are already turning Altcoins, stealing the expectations of the investors of a 2025 Altcoin season.
When observing their great capitalization tokens acquisitions, smart money merchants acquired $ 1.2 million in tokens chainlink (link), tokens of $ 967,000 in Ethena (ENA) and tokens Lido Dao (Ldo) of $ 614,000, Nansen The data show.
The increasing link acquisitions may have been in response to the presentation of Bitwise asset management to launch a bag -based background based on links with the United States Stock Exchange and Securities Commission, Cointelegraph reported Tuesday.
However, these cumulative acquisitions of Altcoin pale compared to the $ 28 million ether acquired by an inactive whale, which has been inactive since 2021, Cointelegraph reported Tuesday.
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