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🔥 Day 8 Hot Topic: XRP ETF Goes Live
REX-Osprey XRP ETF (XRPR) to Launch This Week! XRPR will be the first spot ETF tracking the performance of the world’s third-largest cryptocurrency, XRP, launched by REX-Osprey (also the team behind SSK). According to Bloomberg Senior ETF Analyst Eric Balchunas,
The rally in Bitcoin may be delayed a bit, but the ideal environment has been created for price increase! - Coin Bulletin
While the volatility in the crypto markets continues, Bitcoin whales continue to increase their holdings, with wallets holding (100+ BTC.
According to the data shared by Santiment, the number of wallets holding more than 100 BTC increased by 135 in February, while wallets with less than 100 BTC decreased by 138,680.
Small investors, especially those who entered the market in the last 6 months, sell due to the inability to withstand volatility, while large investors take advantage of the declines. Throughout history, similar scenarios have occurred, and when whales accumulate BTC during declines, it is generally considered a signal of a market rise.
Santiment notes that this accumulation model could push Bitcoin's market value up in the long run. However, it is emphasized that the effect of whales may take weeks or months to reflect in prices. While small investors' panic selling allows Bitcoin to fall into stronger hands, this indicates a significant transformation process in the market.