Cryptocurrency analytics platform Santiment is naming three digital assets that it says possess long-term bullish prospects.
Santiment says that Ethereum (ETH), Shiba Inu (SHIB) and the artificial intelligence-focused crypto project Fetch.ai (FET) are witnessing a reduction of the supply held on exchanges by their top 10 holders.
According to Santiment, the moving of the three crypto assets by the respective top 10 holders from exchanges is a “bullish long-term signal”.
The crypto analytics platform says that in the case of Fetch.ai, the top 10 largest wallets have reduced their FET holdings on exchanges by 26.1% in the last three months. The top 10 holders of Ethereum and Shiba Inu, on the other hand, have cut their holdings on exchanges by 4.3% and 2.7%, respectively, over the past 90 days.
Ethereum is trading at $2,306 at time of writing, while Shiba Inu is changing hands at $0.0000106. Fetch.ai is priced at $0.729 at time of writing, up by 259% from its October 23rd price of $0.203.
Earlier this week, Santiment said that the supply of Ethereum on exchanges had reached a new low since the official launch of the second-largest crypto asset by market cap.
“As Ethereum’s market value hangs just above $2,170, the largest exchange wallets continue to move coins into smaller wallets or off exchanges entirely. 240,000 ETH has been collectively moved from these wallets in 24 hours, a 2.99% drop in coins held.”
Don'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: DALLE3
