Whale dem don gather $180M for WBTC and ETH
On August 19, big institutional whales dem increase dia holdings for wrapped Bitcoin (WBTC) and Ethereum (ETH) seriously, according to ChainInfo data wey BlockBeats News report. For one day, dem buy 277.5 WBTC wey worth $32.06 million plus 2,493 ETH wey worth $10.65 million. Dem total position now na 1,196.2 WBTC (about $141 million if WBTC price na $118,057) and 8,711 ETH (around $38.7 million if ETH price na $4,442), total about $180 million. This big accumulation show say institutional confidence dey grow for cryptocurrency market and e dey hint say market get better outlook based on current market conditions.
Bullish
Plenti big whale gather for WBTC and ETH normally mean sey big institution get strong belief and e dey reduce sell pressure. Tin dem wey don happen before—like how whales buy Bitcoin and Ethereum for 2021—na before price dem rise. For short time, dis buying increase fit give immediate support and calm down wahala wey dey. For long term, constant institution interest dey usually support better market feeling and fit push price go higher.