A closely followed analyst says that crypto whales have gobbled up hundreds of millions of dollars worth of top altcoin Ethereum (ETH) during the last seven days.
In a new thread, crypto strategist Ali Martinez tells his 36,100 followers on the social media platform X that deep-pocketed traders have accumulated tens of thousands of ETH over the past week.
“Some of the largest Ethereum whales have been on a buying spree, scooping up over 100,000 ETH in just the past week – that’s a whopping $230 million!”
Ethereum is trading for $2,171 at time of writing.
Moving on to dog-themed meme asset Shiba Inu (SHIB), Martinez notes that the Dogecoin (DOGE) rival appears to be on the cusp of a rally to the upside after breaking above its diagonal resistance.
“Shiba Inu is showing signs of breakout! If SHIB maintains the crucial support level at $0.0000103, the next stop for SHIB could be $0.0000140.”
SHIB is trading for $0.0000109 at time of writing.
Wrapping up his analysis with the smart contract protocol Fantom (FTM), Martinez says that the altcoin is flashing a bullish signal as an uptrend in its network growth points toward higher demand for the token.
“The Fantom network is witnessing a bullish sign with a steady rise in new addresses, consistently making higher highs and higher lows. This uptrend in network growth suggests a surging demand for FTM. Such a spike in user interest could soon start reflecting in FTM’s price.”
Fantom is trading for $0.39 at time of writing.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
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 losses 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.
Generated Image: Midjourney
