[ad_1]
Crypto analytics platform Santiment reveals that gains made by Bitcoin (BTC) whales after the bull run ended last year were not cashed out in fiat currencies.
Santiment says that when the bull market ended in 2021, Bitcoin whales converted their profits into stablecoins.
According to the analytics platform, the number of stablecoins holding more than $100,000 in dollar-pegged crypto assets increased by 53% to 1,689% in one year.
“It’s no secret that Bitcoin’s whales have been spilling out as crypto markets retraced in 2022. But instead of cashing in fiat, 2021 profits are sitting in stablecoins. As pictured, USDT, USDC, DAI and BUSD exploded with new big addresses.
Source: Santiment/Twitter
Santiment reveals that the number of large Tether (USDT) addresses increased by 53% in one year, while the number of deep-pocketed Dai (DAI), USD Coin (USDC) and Binance USD (BUSD) addresses increased by 271%, 926% and 1689%, respectively, over the same period.
When it comes to Cardano (ADA), Santiment says the smart contract protocol whales added over $60 million worth of ADA after offloading the digital asset late last year.
“Cardano is experiencing a mini-surge at this hour, and addresses holding between one million and 100 million ADA may be a primary validator to watch for a price breakout. After dumping 568.4 million coins over the past two last months of 2022, they added 217.2 million ADA to start 2023.”
Source: Santiment/Twitter
Cardano is trading at $0.277 at the time of writing.
Don’t miss a beat Subscribe to receive crypto email alerts straight to your inbox Check price action Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest headlines Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.
Generated Image: Midjourney
|
Sources 2/ https://news.google.com/__i/rss/rd/articles/CBMijgFodHRwczovL2RhaWx5aG9kbC5jb20vMjAyMy8wMS8wNy9iaXRjb2luLXdoYWxlcy11bmxvYWRlZC1idGMtYXMtbWFya2V0LXJldmVyc2VkLWFuZC1wYXJrZWQtdGhlaXItcHJvZml0cy1pbi10aGlzLWNyeXB0by1hc3NldC1jbGFzcy1zYW50aW1lbnQv0gEA?oc=5 The mention sources can contact us to remove/changing this article |
[ad_2]