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New Ether whales increased by 68 amid price drop

New Ether whales increased by 68 amid price drop The recent decline in the cryptocurrency market may have become a golden opportunity for people to bag more of their favorite cryptocurrencies, and those they believe to be promising. This seems to be the case of Ethereum cryptocurrency, as the number of Ether whales grew by […]

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The recent decline in the cryptocurrency market may have become a golden opportunity for people to bag more of their favorite cryptocurrencies, and those they believe to be promising. This seems to be the case of Ethereum cryptocurrency, as the number of Ether whales grew by 68 in the past three days when the crypto had a drop in price.

Ether whales are increasing in number

Data shared from Santiment, a crypto market insight, and behavioral reports provider showed that numerous Ethereum cryptocurrencies were acquired as the price dropped. The number of new crypto investors holding at least 1,000 to 10,000 ETH surged by 68, making the new list of Ether whales presently. 

At the time of writing, this would mean that 68 new addresses are holding between $348,000 to $3,480,000. Remarkably, these new Ether whales all joined the network within the past three days, as the data noted. During this time, the cryptocurrency was gradually decreasing in price, to the extent it declined to $326 on Saturday. This accounts for a 30.2 percent drop from the $367 recorded on the last day of August.

The tweet reads:

“ @santimentfeed‘s holder distribution chart shows that as #Ethereum was falling, there was a spike in the number of addresses with millions of dollars in #ETH, colloquially known as whales. Roughly 68 new whales holding 1K to 10K $ETH have joined the network in the past 3 days.”

Most likely, what triggered the birth of new Ether whales relates to the booming decentralized finance (DeFi) industry, which runs on the Ethereum network. Besides, Ethers are significantly being locked up in many DeFi protocols, which is somewhat creating a high demand for the cryptocurrency.

Some whales foresaw Ether drop coming

Separate information from Santiment somewhat indicates that some Ethereum whales might have sensed the coming Ether price freefall in the past week. About 100 biggest ETH exchange addresses began cashing out as the crypto neared its recent high. Not being greedy per se. 

Per Santiment, these addresses shaded their holdings from 16.92 million to 15.89 million in the past week.

Source: https://www.cryptopolitan.com/ether-whales-increased-by-68-amid-price-drop/

Blockchain

XRP, Tron, Tezos Price Analysis: 01 March

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XRP could be in line for another sell-off as the 200-SMA looked to cross above the 50-SMA. Down the ladder, Tron and Tezos were projected to stick to a fixed channel, with a breakout largely dependent on the future movement of market leaders Bitcoin and Ethereum.

XRP

Source: XRP/USD, TradingView

The bearish nature of XRP’s market was evident on its 4-hour chart as the price remained below the 200-SMA (green) despite a slight recovery at the time of writing. Moreover, the long-term moving average looked positioned to cross above the 50-SMA (blue). The last time this development took place was when a lawsuit was announced by the U.S. Securities and Exchange Commission against Ripple which resulted in a massive price drop and a bear market that lasted for over a month.

The MACD line floated just above the signal line but momentum seemed weak on the buying side. The Stochastic RSI also tipped in favor of the bulls. A strong sell-off could be avoided if the indicators maintain a positive stance. If the sell-off does take place at the current level, $0.25 support could be in focus.

Tron [TRX]

Source: TRX/USD, TradingView

Tron continued to trade rangebound between $0.05 and $0.04 as momentum switched sides between the buyers and sellers. The Awesome Oscillator flashed green at the time of writing as momentum diverted back to the buyers.  The 24-hour trading volumes surged by over 27% and clocked in at $1.76 billion.

While it looked like Tron was poised to rise above its overhead resistance, low volatility according to the Bollinger Bands worked against a bullish outcome. That could change if buying picks up over the coming sessions. Conversely, a pullback in the broader market could see Tron move towards $0.036 support.

Tezos [XTZ]

Source: XTZ/USD, TradingView

A horizontal pattern formed on Tezos‘ 4-hour chart as the price oscillated between a resistance and support line since bouncing back from the $3.2 mark. For traders, sell signals were present on the upper trendline and buy signals on the lower trendline. Considering Tezos’ strong correlation with Bitcoin, the state of the king coin could determine the direction of a breakout from the channel.

The next resistance level lied at $4.3, while the next support rested at $2.7. The MACD line moved above the signal line as bullish momentum was on the up. The RSI also pointed north from around the 50-level.


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Source: https://ambcrypto.com/xrp-tron-tezos-price-analysis-01-march

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Why countries like the US can do better in terms of crypto adoption

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The interest in cryptocurrencies has been on the rise and the general awareness of the technology and its function as a digital asset has risen substantially in the past few years. While the United States has been open to innovation, the lack of regulatory clarity within the country has raised various concerns between people and businesses in crypto.

Whereas Asia has been enabling wide-spread adoption of cryptocurrency with countries like Japan and Hong Kong trying to form guidelines around cryptos. However, apart from the regulatory differences, the biggest difference could also be with regard to user behavior in these two regions.

Amber Group partner, Annabelle Huang, who recently appeared in Anthony Pompliano’s podcast stated that although the innovations were taking place in the United States of America, the greater chunk of adoption was coming from countries in Asia. The continent has also remained a hub for miners and crypto exchanges and according to Messari’s report, by the end of 2019 six out of ten of the largest cryptocurrency firms are located in Asia.

Huang noted:

“…The biggest difference is just the sentiment and the drive of people. I think in the States, just because there are a lot of regulatory constraints and concerns, people sometimes are more hesitant towards driving the business forward. But, in Asia, I think people are more eager to test things out, get things going on the ground. So, we do see a lot of early adoption in Asia.”

Asia has been a focal point for crypto adoption and nearly 42% of the market capitalization is based in the continent.

Source: Messari

The advantage Asia has been offering to new crypto projects is mainly due to the cultural mentality according to Huang who noted that:

“I think we see in Asia, in Korea and Japan, it is hard for people to find yield anywhere. […] Especially like, I guess, in Japan right, all the yields are negative and I think people are perhaps more inclined to find more opportunities and more acceptable to new things, so that’s why I think crypto adoption in Korea and Japan are highest among the world.”

Although China has remained apprehensive about cryptocurrencies, the country has been inching closer to launch its own Digital currency Electronic Payment [DCEP] system. As the market corrects itself, the coming changes in the market could also trigger changes in the sentiment across the globe about crypto, however, the regulations continue to remain in the gray area.


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Source: https://ambcrypto.com/why-countries-like-the-us-can-do-better-in-terms-of-crypto-adoption

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Hathor opens doors for Bitcoin traders

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KuCoin launches trading services for the trading pair HTR / BTC at 10:00 AM on March 2, 2021 (UTC).

The HTR / USDT trading pair is currently open for HTR.

HTR has also launched a grant program for projects that want to develop the Hathor ecosystem and contribute to the global adoption of blockchains.

Apply Now! #BuildOnHathor #HTR

https://landing.hathor.network/grantprogram2021

Disclaimer: This article is a paid post and must not be considered as news/advice. 


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Source: https://ambcrypto.com/hathor-opens-doors-for-bitcoin-traders

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