Blockchain analytics firm centimenthas found that whales with capital between 1 million and 10 million XRP continue to accumulate even during volatility in the digital asset markets.
The richest outside the stock markets, according to Santiment Ripple (XRP) increased their wallets, aggregated assets by 2.4% in just 11 days.
“XRP whales holding between 1 million and 10 million XRP continue to accumulate massively and have now started to hold the highest percentage of the asset supply in 2 months. These over-the-counter wallets currently hold 6.12% of all XRP.”
Santiment stated that the whale group holding at least 10 million XRP accounts for the majority of the total supply of the coin.
Yes, that’s correct, Brad. For reference, here are the top 3 tiers of whales, all using different axes. The yellow line is the one you’re referring to, which is the tier of addresses holding 10M or more $XRP. They tend to be fairly inactive, and currently hold 73% of the supply. pic.twitter.com/ubGUpscPU2
— Santiment (@santimentfeed) May 26, 2022
Santiment underlined that the number of rich Bitcoin wallets has also increased recently. Despite the drop in Bitcoin price, the firm has 100 to 1,000 Bitcoin (BTC) He stated that the amount of wallets holding between them has increased.
“Bitcoin continues to trade at $29,600, while the amount of key whale addresses (holding 100 to 1,000 BTC) continues to accumulate from late January. Historically, we’ve seen a correlation between price and the amount of addresses for this layer.”
Sharing data on Ethereum (ETH), the firm states that transaction fees have recently dropped to $2.54, the lowest since July for the smart contract platform. Santiment underlined that the price of ETH has historically increased after fees fell below $5.
At the time of writing, XRP was valued at $0.40, while Bitcoin was trading at $29,290 and Ethereum at $1,802.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.