According to market observers, on April 25th, whale addresses made total token transfers of 1.3 billion dollars to the cryptocurrency exchange Coinbase, which could potentially be a massive buying signal for Bitcoin and Ethereum. According to Etherscan data, five transfers totaling 1.3 billion dollars were made to Coinbase on April 25th, ranging from 150 million to 350 million dollars each.
Whale Movements Excite Investors
Investors often view large stablecoin deposits on exchanges as a sign of an upcoming rise, indicating possible large purchase orders soon. Significant amounts of cryptocurrency deposits on exchanges could signal a potential sale, making investors cautious against a crisis. Crypto commentator Lark Davis shared his thoughts on the matter:
“If this is really a whale purchase at current prices, then yes, it could have a significant impact on the price of the assets they bought, which at this level are almost certainly just Bitcoin and Ethereum.”
However, crypto analysts agree that whale movements are never a guaranteed indicator for the crypto market, and Davis stated:
“Whale movements are closely watched but we never know what they are doing.”
Notable Figures Make Striking Statements
Davis also mentioned that whales might place limit orders instead of buying assets outright, which could create stronger support levels for the cryptocurrencies they invest in, forming a price support layer in the buying process. However, he warned that it is never certain how these large transfers will affect the market. Meanwhile, Youtuber Brian Jung argued that transferring significant funds to a single crypto token could positively change the market, explaining that additional liquidity would help raise the prices of other cryptocurrencies:
“If this amount was distributed to a single altcoin‘ with a market value of 100 million dollars, it would definitely raise the price, but I can’t imagine any sensible whale doing this because it would almost make it impossible for them to profit.”
During this process, despite a slight decrease in market sentiment according to the Fear and Greed Index, a significant fund movement occurred. The Greed score dropped from 64.04 to a neutral level of 59.78 in the last 24 hours, indicating that investors are shifting their focus away from accumulation.
