Ethereum

Value

PEPE

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whales-increase-holdings-in-ethereum-pepe-and-ondo/" data-wpel-link="internal">Whales Increase Holdings in Ethereum, PEPE, and ONDO</a> 
Interest from crypto whales in an asset often signals a potential price rally. Individual <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> gain confidence when they see large investors increasing their trading activities. This increased confidence typically leads to more buying activity and sustainable price rallies. We examine three altcoins that have recently made headlines. 
<h2 class="p1" style="text-align: justify" id="what-s-happening-with-ethereum">What’s Happening with Ethereum?</h2> 
As the market anticipates more inflows from spot exchange-traded funds, Ethereum whales have increased their holdings. Onchain <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> from IntoTheBlock revealed a 167% increase in the net flow of large holders over the past seven days. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-375990 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-1.webp" alt="" width="1200" height="800"> 
Large holders are addresses that own more than 0.1% of an asset’s circulating supply. The net flow of large holders measures the difference between the assets these investors buy and sell over a certain period. When this metric rises, it indicates that whale addresses are purchasing more assets. 
At the time of writing, Ethereum was trading at $3,311. It is preparing to surpass its 20-day exponential moving average (EMA), which tracks the average price over the last 20 trading days. This crossover usually indicates an increase in buying pressure. If it occurs, Ethereum’s price could rise to $3,448. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-375989 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/eth-grafik.png" alt="" width="2770" height="1358"> 
<h2 class="p1" style="text-align: justify" id="interest-in-pepe-continues">Interest in PEPE Continues</h2> 
The frog-themed <a href="https://en.coin-turk.com/meme-coins-create-massive-gains-for-investors/" data-wpel-link="internal">memecoin</a> PEPE has seen an increase in whale addresses. According to Santiment, 85,400 addresses currently hold between 10,000 and 10,000,000 PEPE tokens, marking the highest number since its launch in April 2023. In the last month alone, the number of these PEPE holders has increased by 12%. This occurred despite the token consolidating within a price range during that period. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-375988 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/pepe.png" alt="" width="3840" height="1300"> 
PEPE whales have recently increased their holdings due to the profitability of holding the token. Readings from the Market Value to Realized Value (MVRV) ratio indicate that the memecoin is currently overvalued, suggesting that investors might sell for profit. 
At the time of writing, PEPE’s MVRV ratio was positive according to various moving averages. Specifically, the 30-day and 365-day moving averages recorded MVRV ratios of 8% and 97.58%, respectively. However, it is important to note that consistent selling could put downward pressure on PEPE’s price. If selling pressure starts to exceed supply, the memecoin’s value could drop to $0.0000099. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-375987 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/pepe-grafik.png" alt="" width="2770" height="1358"> 
<h2 class="p1" style="text-align: justify" id="possible-scenarios-for-ondo">Possible Scenarios for ONDO</h2> 
According to IntoTheBlock, Ondo Finance’s governance token ONDO saw an increase in large holders’ inflows over the past 30 days. During this period, this increased by 19%. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-375986 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/ondo.webp" alt="" width="1200" height="800"> 
This data tracks the amount of cryptocurrency flowing into wallets owned by large holders. When it rises, it indicates increased buying pressure from significant investors. ONDO whales could push the altcoin’s price to $0.99 if they continue accumulating in August. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter wp-image-375985 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/ondo-grafik.png" alt="" width="2770" height="1358"> 
However, if profit-taking activity continues, it will put downward pressure on the token’s price, potentially causing it to drop to $0.84. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/whales-increase-holdings-in-ethereum-pepe-and-ondo/" data-wpel-link="internal">Whales Increase Holdings in Ethereum, PEPE, and ONDO</a></h5>
The post <a href="https://en.coin-turk.com/whales-increase-holdings-in-ethereum-pepe-and-ondo/" data-wpel-link="internal">Whales Increase Holdings in Ethereum, PEPE, and ONDO</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Whales Increase Holdings in Ethereum, PEPE, and ONDO

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