The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Whales Buying Loads of Ethereum, Reports Santiment – But This Analyst Warns the Price of ETH Is in Danger

by Daily Hodl Staff
March 5, 2020
in Ethereum

New data from the crypto analytics firm Santiment shows Ethereum whales are stocking up on the second most popular digital asset.

According to Santiment, holders of significant amounts of Ethereum are displaying confidence in the cryptocurrency despite current volatility in the market. 

“The top 100 holders of Ethereum are once again beginning to accumulate higher percentages of the total token supply, in spite of the ongoing consolidation that has been occurring for the past couple of weeks.“

Santiment says the pattern suggests a potential price upside for the digital asset, although it may take a while before the value of the cryptocurrency starts to take off. 

“Generally, when this kind of accumulation starts to mount, it’s a signal that those who have the most stake in ETH (and other respective tokens) are beginning to have a collective sentiment of the token being undervalued and believe it’s a great mid to long-term hold play.

Sometimes these price rises take a bit of time after these accumulation rises, but it is generally a good sign for Ethereum bulls.”

Source: Santiment

However, in the short term, a popular crypto trader and analyst warns the price of ETH may tank in what he calls a “red pill” scenario. 

While bullish on ETH in the long run, Escobar predicts that the price of the cryptocurrency may plummet due to a lack of a strong buy-side volume. He says that if the cryptocurrency breaches the lower boundary of the trading range at $210, Ethereum’s price could drop to $192.

$ETH

Red Pill timeline was off, but happenin rn. pic.twitter.com/8EGsQs8I9d

— ESCO?AR ? (@TraderEscobar) March 4, 2020

At time of writing, Ethereum’s price is hovering at $226, down 0.03% in the last 24 hours, according to CoinMarketCap.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/kkssr

Submit a Press Release

Industry Announcements

  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
  • Duelbits Announces Landmark Collaboration With Football Icon Luis Suárez
    November 29, 2023
  • BinaryX Launches AI Chat Game ‘AI Hero’ With Limited NFT Mints
    November 28, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$41,622.15
$41,622.15
0.44%
Ethereum
$2,205.41
$2,205.41
1.77%
Cardano
$0.400176
$0.400176
2.05%
XRP
$0.613502
$0.613502
3.25%
Dogecoin
$0.088428
$0.088428
1.75%

Spotlight

  • Bitcoin Forming Bullish Picture As BTC Gears Up To Leave 15-Month Accumulation Phase Behind: Crypto Analyst
    November 28, 2023
  • 100 Biggest Tether Whales Add $1,670,000,000 in USDT in Six Months, Says Analytics Firm Santiment
    November 28, 2023
  • Whales Start Shifting DEX Token Ahead of Massive $505,500,000 Unlock
    November 28, 2023
  • ‘One of Most Bullish Charts I’ve Seen’ – Ex-Goldman Sachs Executive Details Ethereum Outlook As ETH Prints New Pattern
    November 28, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl