- Santiment identifies Ethereum, Shiba Inu, and Fetch.ai as cryptocurrencies displaying bullish signals due to a substantial reduction in supply held on exchanges by their top 10 holders.
- The article explores how these strategic movements, particularly Fetch.ai’s impressive 259% surge in two months, indicate long-term optimism in the crypto market.
Cryptocurrency enthusiasts are closely eyeing three digital assets that have recently captured the attention of the market, and according to Santiment, a prominent cryptocurrency analytics platform, these assets are flashing bullish signals that hint at long-term prosperity. Ethereum (ETH), Shiba Inu (SHIB), and Fetch.ai (FET) are the chosen trio, all exhibiting a significant reduction in supply held on exchanges by their top 10 holders.
Santiment categorizes the recent movements of these crypto assets by their respective top 10 holders as a “bullish long-term signal.” In the case of Fetch.ai, the top 10 largest wallets have collectively decreased their FET holdings on exchanges by an impressive 26.1% over the last three months. Ethereum and Shiba Inu, two giants in the crypto space, have also seen reductions in their holdings on exchanges, with the top 10 holders cutting their Ethereum holdings by 4.3% and Shiba Inu holdings by 2.7% over the past 90 days.
As of the latest data, Ethereum is currently trading at $2,306, and Shiba Inu is changing hands at $0.0000106. Notably, Fetch.ai has experienced a staggering 259% surge in value since October 23rd, reaching a current price of $0.729.
Fetch.ai: An Artificial Intelligence Gem
Fetch.ai, an artificial intelligence-focused cryptocurrency project, has emerged as a standout performer, with its value skyrocketing by 259% in just two months. The significant reduction in FET holdings on exchanges by the top 10 wallets indicates a strategic move by major investors, fostering optimism among traders and investors alike.
Ethereum and Shiba Inu: A Synchronized Symphony
Ethereum and Shiba Inu, two well-established players in the crypto arena, have demonstrated synchronized movements with a decrease in holdings on exchanges. Ethereum’s price, hovering around $2,306, is coupled with a recent observation by Santiment revealing a 2.99% drop in Ethereum holdings on exchanges within a 24-hour period. Shiba Inu, priced at $0.0000106, showcases a similar trend, reinforcing the narrative of a long-term bullish trajectory.
Earlier this week, Santiment reported that the supply of Ethereum on exchanges had reached a new low since its official launch, accentuating the ongoing trend of large exchange wallets redistributing coins into smaller wallets or completely withdrawing them from exchanges. This strategic maneuvering by major holders continues to instill confidence in the market, painting a promising picture for the future of these digital assets.
In conclusion, the crypto trio of Ethereum, Shiba Inu, and Fetch.ai is currently under the spotlight, with Santiment’s insights suggesting a bullish trajectory in the long run. The deliberate reduction in holdings on exchanges by the top 10 wallets amplifies the confidence of market participants, signaling a potential period of sustained growth for these digital assets. As the crypto landscape continues to evolve, these three assets stand out as key players to watch, captivating the attention of both seasoned and novice investors alike.
