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.
[adinserter block="1"]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.”
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