In addition to storage of digital assets, crypto wallets tell stories about events or trends in the cryptocurrency market. Even more interesting are the stories told by the portfolios of the greatest participants – the whales. The monitoring of the transactions of these addresses can offer an overview of the feeling of the market, as they often act as silent signals of future trends. For example, the whales of two of the largest cryptocurrencies – Ethereum and Cardano – seem to tell some stories at the moment – two different but linked tales.
Diverging paths – ETH whales slowly come out, while the giants ada enter
In a recent article on X, the social media platform, the CEO and founder of Alphractal, Joao Wedson, shared information on the chain on an increasing divergence in the activities of the whales of Ethereum and Cardano.
The relevant indicators here are the metrics ETH and ADA Grande Hauter Top100, which follow the percentage of total supplies of Ethereum and Cardano owned by the best portfolios. This metric is particularly useful for determining whether the main holders accumulate or distribute their parts.
Source: @joao_wedson on X
In the post on X, Wedson stressed that the 100 best holders of ether tokens have constantly reduced their assets. The analyst explained that, since May, their share of Ethereum’s offer has increased from 22% to around 19.6%. This means that the assets of large investors decreased 2.9 million ETH during this period.
Source: @joao_wedson on X
On the other hand, Wedson stressed that the 100 best holders of ADA have “gradually accumulated day by day”. He explained that this signals confidence in the token and could be a sign that strategic positions occur in anticipation of future bullish rallies.
What could that mean?
The Crypto Pundit continued to emphasize that these large addresses are associated with exchanges, but that does not detract from the fact that Cardano seems more attractive for the moment. “”From this point of view, Cardano currently seems more attractive according to the behavior of great players, “said Wedson.
In what seemed to be protruding advice, Wedson restored the importance of following the intelligent movements that these cryptographic whales make because they can reveal where the market is heading.
At the time of the press, Ethereum, the “King of Altcoins”, is estimated at around $ 3,766, reflecting a price increase of 0.6% in the last 24 hours. According to Coingecko data, the price of the ETH experienced a slightly impressive performance of more than 3% last week.
Cardano, on the other hand, is worth $ 0.8297, reflecting a price leap of 0.6% in the last 24 hours. The 7 -day ADA action was also barely impressive, which ended the week with around 1.5% of its value.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Felash star image, tradingView graphic
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