Altcoins are witnessing a significant uptrend in the digital assets market, with ADA surpassing the $0.65 threshold and SOL approaching the $100 mark, as reported in a recent update by Santiment, a behavioral analytics firm. Recent data shows ADA is valued at $0.590085, while SOL trades at $97.50. However, attention is drawn to ETH, SHIB, FET, and DENT.
Notably, these four digital assets have seen significant movements in their top 10 respective exchange wallets, with a conspicuous trend of coins being withdrawn from exchanges. This development suggests a noteworthy shift as, when top investors withdraw their holdings from exchanges, it reduces the selling pressure on the market, paving the way for potential price surges.
Ethereum shows a decrease in its top exchange wallets, with a current supply of 7.79 million held by these addresses. Consequently, Ethereum is valued at $2,171.52, a subtle 0.31% uptick in the past day. This trend, indicating a reduction in selling pressure, could signal a bullish outlook for Ethereum.
SHIB, another popular crypto asset, also mirrors this trend with its supply held by top exchange addresses at 177.92 million. Moreover, SHIB has shown resilience with a slight market uptick of 1.74% and is valued at $0.000010. This trend could suggest a growing confidence among SHIB investors.
Fetch.ai (FET), with its supply at 179.94 million in top exchange wallets, presents an intriguing scenario. The currency has experienced a 4.66% rise in the last 24 hours, priced at $0.732707. This movement hints at a positive sentiment prevailing among FET holders.
Dent (DENT), however, displays a contrasting trend. The supply in its top exchange wallets has surged to 50.09 billion. Nevertheless, Dent’s price today is $0.001116, reflecting a 5.29% increase. This anomaly suggests a varied investor behavior compared to other cryptocurrencies.
The reduction in exchange wallet holdings for ETH, SHIB, and FET might imply a strategic move by investors. By offloading coins from exchanges, they may gear up for long-term holding, anticipating future price increases underscoring a bullish sentiment in the market.
