Open Analytics - 4. Ethereum
We know that whales respond to market situations earlier than other users do.
Recent weeks, particularly after October 26, have seen a large increase in the quantity of whale arrivals and departures as well as overall whale activity.
On November 24, at the lowest price of ETH, 1.199 dollar was taken out of the whale wallet.
Ethereum withdrawals from the whale wallet have started to increase since December 6st.
Since Dec 8th, the price of Ethereum has increased significantly at the same time, an indication of intense whale activity and whales trading ETH for stablecoins.
When comparing stablecoins like USDC, USDT, BUSD and DAI which have helped most whales withdraw money in the last 30 days, USDC comes out on top. The massive volume of FTX token withdrawals on October 31st, which occurred just less than ten days before the FTX exchange declared bankruptcy, is the most important data point in the charts. This large volume, which is equivalent to 833 million dollars, negatively affected the market.
Recently, whales' wallets have received more inflows than outflows, and a large portion of these inflows have been stablecoins, indicating that whales have reduced their risk.
Volume changes for USDT and DAI have decreased significantly.
The largest share on the Uniswap platform is USDC to WTH exchanges.
Whales have shown great interest in exchanging their tokens for WTH on the Uniswap platform, and the majority have done so.
Since November 21, the volume of swaps and their average has increased and reached its peak on November 23.
Surprisingly, whales have even handled a high percentage of WBTC to WETH transactions at around 4.73%, followed by USDC to WETH at 9.21%.
Whales made the most daily transfers to decentralized exchanges, with Uniswap receiving 74.9% of these transfers, followed by Coinbase with 9.1%.
This high amount and the current market situation indicate that stablecoins are exchanged with altcoins on Uniswap.
Since November 23, centralized exchanges such as Coinbase and Binance have seen an increase in the number of transactions of wallets owned by whales with large shares.
As you can see, due to the negative publicity surrounding the FTX exchange and whales withdrawing their assets from this exchange, the number of transfer transactions made from this exchange has increased sharply in the last two weeks.
Sales numbers for distinct NFTs from the top 10 sets are displayed in the charts.
The counterparty holds 54.8% of the market share, while 26,370 sales were the highest.
We see a sharp drop in weekly numbers for the platform, which hit 1,655 on June 27th and 1,760 on November 14th.
With a sales share of 11.1% nft, mutantapey is the next best platform, surpassing Clone X in terms of sales with 5126 nft.
Conclusion
The results from each segment show that the whales began their activity before the market crashed.
Whales have switched to lower-risk tokens in order to control the risk of high-risk assets on centralised exchanges like Coinbase and Binance as well as decentralised exchanges like Uniswap. \n One indication of a market crash is a rise in the stablecoin held by whales, and in such situations, whales try to reduce risk and leave high-risk assets.
As a result, the market's bullishness and bearishness are directly correlated with the entry and exit of ETH, the second-largest market coin by market cap, from whales' wallets.
Introduction
What is Cryptomarket?
Crypto exchanges are the stock exchanges of the digital world. And just as stock exchanges list hundreds or thousands of stocks, crypto exchanges make it possible to buy, sell, and swap hundreds or thousands of digital currencies. Collectively, those currencies constitute the crypto market.
What does NFT mean?
NFT means non-fungible tokens (NFTs), which are generally created using the same type of programming used for cryptocurrencies. In simple terms these cryptographic assets are based on blockchain technology. They cannot be exchanged or traded equivalently like other cryptographic assets. Like Bitcoin or Ethereum
Methodology
There are wallets in this dashboard with more than $10 million in ETH.
The answers to the following queries are provided on this dashboard:
- What cryptocurrencies are the whale wallet's Ethereum blockchain inputs and outputs
- How much has the balance in their wallet changed over the past 30 days
- What kind of tokens were transferred, where did they come from, and where were they headed
- Which tokens have whales on the UniSwap platform traded the most recently
- NFTs