Thursday, March 4, 2021

Whales preparing for new records in Bitcoin? Which altcoins are performing well?

In a new report on market conditions, crypto analytics firm Santiment says the big Bitcoin (BTC) and Ethereum (ETH) holders are preparing themselves for a rally.


Santiment says individuals holding 1000 or more Bitcoins dominate a larger share of the BTC market, suggesting that whales may be on the verge of triggering a strong upward reversal.

    “The largest holders of Bitcoin (1,000+ BTC) now hold 42.56% of the total supply after holding 43.29% on February 8 (the highest level in 54 weeks). A return of over 43% will be an indication that the whales want to feed another rally. "

Whales also hold a significant portion of Ethereum, according to Santiment: “Ethereum's top 10 off-the-exchange whale addresses hold the most ETH token supply (16.86M) since July 2016. On March 1, 1.03M single-day tokens were added to these addresses. Highest daily bounce in 6 weeks! ”

Although whales seem to be preparing for cryptocurrency number one and two to pave the way to new heights, according to Santiment data; Cryptocurrencies such as Polygon (MATIC), blockchain game currency Enjin (ENJ), Theta blockchain governance token Theta Fuel (TFUEL) and XinFin (XDC) outperform all other cryptocurrencies, especially BTC.

    “While Bitcoin's volatility continues (as it briefly did yesterday) while trying to exceed $ 50,000 again, altcoins mostly earn from the number one cryptocurrency. MATIC, ENJ, TFUEL and XDCE are just one of the few projects that lay the foundations. ”

Recently, Santiment also announced the fastest growing Ethereum-based projects for the month of February. Respectively:

    Gnosis (GNO)
    Status (SNT)
    Decentraland (MANA)
    UMA Protocol (UMA)
    Chainlink (LINK)
    Skale Network (SKL)
    MakerDAO (MKR)
    Ocean Protocol (OCEAN)
    Golem Project (GLM)
    Santiment Network Token (SAN) 

Amazon announced that it will support Ethereum!

Amazon announced that they will support Ethereum (ETH), according to a statement on its official website. In the statement, it was stated that Amazon Web Services users can connect to the Ethereum main network. Amazon announced on its official website that Amazon Web Services (AWS) users can create Ethereum nodes and connect to the Ethereum mainnet within minutes.
ANNOUNCEMENT OF SUPPORT FROM AMAZON TO ETHEREUM In the statement, it was stated that Amazon Managed Blockchain also supports Hyperledger, a fork of Ethereum and designed for enterprise applications. This service was originally only available for users on the US East Coast, but now customers can also reach Ethereum in AWS regions in the East US, Asia Pacific and Europe.

What is happening in the markets today?

On the market today, eyes are on Fed Chairman Powell's speech. He is expected to speak about the recently rising borrowing costs. Fed Interest Rate will be announced within 2 weeks. This is Powell's final speech before explaining. He had ignored so far the rising bond yields and inflation figures, stating that he saw the potential for economic growth.


    President Joe Biden accepted some restrictions on the economic support package. As a result of restrictions, US citizens must have some qualifications to benefit from the new support package. It seems that a stricter process will be followed than the previous support package. This development warmed the moderate Democrats to the point.

    In the US, the Non-Manufacturing Purchasing Managers Index and Non-Farm Employment Change data fell below expectations, weakening the dollar yesterday. If the Unemployment Benefit Applications data, which will be announced today, does not meet the expectations, the pressure to sell may increase.

    News that the distribution of AstraZeneca vaccine will increase on the Euro side and Germany's announcement on Monday that it will reduce restrictions created an optimistic atmosphere in the Eurozone. EURUSD closed the day flat in the 1.2050 region.

    GBPUSD, on the other hand, is in the trend support region at 1.3950. In the budget announced by Rishi Sunak last day, it was observed that the support to the economy increased and additional budget was allocated to help businesses damaged by the corona. The statement created an optimistic atmosphere on the Sterling side.

    On the Australian side, there was a record $ 10 billion budget surplus. After the news, AUDUSD rose above 0.78.

    The pressure is high on the ounce gold side. The price is trying to hold above $ 1700. The rise of US treasury bonds increases the selling pressure on ounce gold prices.

    WTI was on the rise ahead of today's OPEC + meeting, to over $ 61 a barrel. Against Russia's readiness to increase oil production, it is among the rumors that Saudi Arabia is not very friendly to this idea.

    On the Bitcoin side, the price started to retreat after testing the 52,650 level the other day. It has difficulty holding above the 50,000 level.

Gold is dead, Bitcoin and Ethereum are getting stronger!

Billionaire businessperson Mark Cuban said in a post on Twitter that while Bitcoin and Ether were getting stronger, gold was "dead". "Gold is dead, Peter. Accept this," Cuban said in a reply to cryptocurrency strategist Peter Schiff.

Mark Cuban, the famous billionaire who owns the Dallas Mavericks from the NBA teams, said to the anti-cryptocurrency strategist Peter Schiff, "Gold is dead Peter, accept this," he shared on his Twitter account. While Bitcoin (BTC) and Ether (ETH) got stronger, gold "died", Cuban said in his statement.
Responding to the comment made by the famous strategist Peter Schiff, known for his anti-Bitcoin statements, Cuban said that gold will disappear and die as a store of value.

In this process, Schiff, who made a name for himself with his negative comments for Bitcoin, continues to make negative comments due to the constant record of the Bitcoin / Dollar parity. Interpreting Wall Street companies' buying Bitcoin as' stupid ', Cuban told Schiff, "Let me help you, Peter. Gold is at least as exaggerated as cryptocurrency. Do we really need a gold jewel?" he replied.

After the discussion, the billionaire businessperson shared the negative future of gold as follows:

"What we see today being built with crypto is only in the proof-of-concept phase. As technology improves, becomes cheaper and faster, there will be new applications, and even those applications will surpass what we know today as crypto," Cuban said in his statement. 

Following Bill Gates's announcement, Bitcoin fell below $ 50,000.

After Bill Gates, in the US, Massachusetts Senator Warren called "it has a speculative nature" and Bitcoin moves below $ 50,000, which he saw earlier in the week and withdrew.

Bill Gates, the founder of Microsoft, emphasized that he has never bought Bitcoin until today during a conversation held through the social communication network Clubhouse and said that he preferred investments that create concrete products such as vaccines. Warren answered CNBC's questions, saying that Bitcoin, which he called "speculative," would experience a "burst".

The largest volume unit of the crypto money markets, Bitcoin, after seeing the new peak of $ 58,330 on February 21, dropped to $ 44,000 with sales on February 21, although it turned its direction upward, but could not exceed $ 50,000.

Bitcoin, which fluctuated between 47 thousand 228 and 49 thousand 671 dollars in the last 24 hours, increased by 0.49 percent to 49 thousand 188 dollars, while the weekly loss of the unit was calculated as 2.19 percent. Bitcoin's total market volume also declined to $ 917 billion, down by about $ 2.0 billion.

The total market volume in all markets remained unchanged at $ 1.51 trillion in the last 24 hours. With the rapid climb in Bitcoin with the new year, the total market volume exceeded the $ 1.0 trillion mark on January 7 and $ 1.5 trillion on February 15.

With the impact of the recovery movements in the cryptocurrency markets, the value of 29 units fell from the highest volume 100 units in the last 24 hours, while two of the top 10 units were among those that fell.

In the 35,068 market where 8 thousand 660 cryptocurrencies are traded, 60.7 percent of the total market volume was Bitcoin and 11.7 percent was Ethereum. Thus, the total volume of the two largest cryptocurrencies accounted for about three-quarters of the total volumes of all units. The 24-hour trading volume in all markets decreased by $ 11 billion to $ 120 billion.