Ethereum whales have been bullish for a long time now, even through the stretched-out bear market of the last year, and their accumulation trends prove this. According to Santiment, the largest Ethereum wallets have been stacking up ETH at an alarming rate, suggesting that these large investors expect the price to keep going up.

Ethereum Whales Buy $124 Billion Worth Of Tokens

Santiment reports that the top 200 Ethereum whales have been buying ETH since November 21, 2022. This was just a few weeks after the FTX crypto exchange filed for bankruptcy, sending cryptocurrency prices across the space into a downward spiral. ETH prices would eventually fall as low as $900 and as fear grew, so did the opportunity for buying.

However, even after prices began to recover once more, breaking above $1,000, these large investors did not reduce their buying. Santiment reveals that they continued to purchase tokens and by November 2022, these top 200 Ethereum wallets have bought up $124 billion worth of ETH.

Source: Santiment on X

In total, these addresses increased their holdings by a whopping 30%, and they now hold a collective 62.76 million tokens. This figure means that the top 200 Ethereum wallets now command approximately 52% of the total ETH supply.

The whale buying spree has not been the only bullish development for Ethereum though as there has been a marked increase in the number of new ETH wallets that are being created. Santiment notes that on Tuesday, November 21, a total of 94,700 new wallets were created on the network, a new 4-month high. This could point to a return of interest in the ecosystem and adoption could trigger a price recovery.

ETH On The Cusp Of Recovery

Although the price of Ethereum has been hit hard following the news of Binance and its CEO Changpeng Zhao hitting the space hard, it has maintained a reasonable price level just below $2,000. This ensures that forecasts are still valid and the chances of recovery remain high.

Crypto analyst FieryTrading has forecasted that the Ethereum price could cross back into the $2,350 territory soon. The analyst notes that the [rice had been on a continuous consolidation trend following the rise from $1,500 to $2,100. Given this, FieryTrading expects the altcoin to break out of its current ‘bull-flag’ as the market rallies.

“Bull-flags are bullish continuation patterns, to bullish price action is the most likely result from this pattern,” FieryTrading explains. Once this breakout happens, then the analyst places the “Target at 2400$ for the coming weeks.”

ETH is currently sitting at $1,996 at the time of this writing with small losses of 0.45% in the last 24 hours. It is performing better than Bitcoin which has fallen 2.24% in the same timeframe to trade at $36,480.

ETH price reclaims $2,000 | Source: ETHUSD on Tradingview.com

Featured image from Bitcoinist, chart from Tradingview.com

It’s been a tough month so far for DOGE, the ticker for Dogecoin, the native cryptocurrency of the Dogecoin blockchain. Dogecoin was unable to muster sustained upside on Tuesday in wake of softer-than-expected US inflation data, failing in its attempts to push back above $0.095 after finding resistance at its 21 and 50-Day Moving Averages.

The dog meme-inspired cryptocurrency has since dropped back under $0.09 once again on Wednesday amid a more hawkish than the market was expecting tone on the need for further interest rate rises from the US Federal Reserve at its latest policy announcement. At current levels around $0.089, DOGE/USD is changing hands lower by around 2.3% on the day on Wednesday and is down around 4.0% this week and 16% this month. Price predictions thus remain subdued. 

The bulls had been hoping for a so-called “Santa Rally” to save the day, but it is currently looking much more likely that Dogecoin is going to emulate its December in 2021, where it lost over 20% than its December in 2020, when it surged 24%.

Price Prediction – Dogecoin In The Doldrums

Dogecoin’s promising end to November which had some bulls hoping for a retest of the post-Elon Musk takeover of Twitter high in the $0.16 area did not translate into further Dogecoin upside in December. Indeed, the cryptocurrency for now appears content to ebb within recent ranges and doesn’t seem to carry much of a bullish or bearish technical bias for the time being. According to DOGE/USD’s 14-day Relative Strength Index score of above 40, Dogecoin is currently fairly positioned.

DOGE/USD is close to the 61.8% Fibonacci retracement level back from the early November highs around $0.16 to the annual lows under $0.05, having failed to hold above the 50% Fibonacci level a few weeks ago. Dogecoin continues to trade above an important uptrend likely to come into play if the cryptocurrency continues to fall to the low-$0.08s. A break below this upwards trendline could open the door to a drop towards a key area of resistance in the $0.07s, where the November double bottom, 200DMA and 78.6% Fibonacci retracement level reside.

Elon Musk No Longer The World’s Richest Person, Can Dogecoin Recover?

According to Forbe’s updated rich list, as reported by CNBC, Tesla, SpaceX and Twitter CEO Elon Musk is no longer the world’s richest person. A fall in the value of Tesla’s stock price, as well as a valuation of Twitter that puts it at only around 50% of what Musk paid for it, means that Bernard Arnault, the CEO and Chairman of European luxury brand group LVMH, now ranks as the world’s richest person.

Does this matter to Dogecoin? Not really. Elon Musk is known to be a big fan of the cryptocurrency and so if he suddenly lost all of his wealth, power and ability to promote Dogecoin, then that might be a problem. But he has lost none of those things, only his status as the world’s richest person. He still owns Twitter and there is still significant speculation that he might integrate Dogecoin into a future Twitter payments system.

Altcoins Offering Quicker Returns

Cryptocurrencies have been trading sideways for a few weeks now, leading some traders to start looking at alternatives with more potential in the short term. Listed below are some of the leading presales in the market, allowing investors to get in on the ground floor.

Dash 2 Trade (D2T) – Presale Enters Final Stage

Those interested in investing in a promising crypto trading platform start-up should look no further than Dash 2 Trade. The up-and-coming analytics and social trading platform hopes to take the crypto trading space by storm with its host of unique features.

These include trading signals, social sentiment and on-chain indicators, a pre-sale token scoring system, a token listing alert system and a strategy back-testing tool. Dash 2 Trade’s ecosystem will be powered by the D2T token, which users will need to buy and hold in order to access the platform’s features. 

Dash 2 Trade is currently conducting a token pre-sale at highly discounted rates and sales recently surpassed $9.7 million. The pre-sale dashboard is going to be released on Friday, with the development team currently running ahead of schedule. Tokens are currently selling for $0.0533 each and will be listed on multiple centralized exchanges in around one month.

Visit Dash 2 Trade here

Calvaria (RIA) – Final Presale Stage Now

Major blockchain-based games like Axie Infinity lost significant traction in 2022. As a result, many investors interested in the crypto gaming space are looking for alternative avenues. Calvaria, an up-and-coming play-to-earn battle card crypto game, could be a good alternative. Calvaria seeks to boost crypto adoption by creating a bridge between the real world and crypto, a fun and accessible crypto game.

Investors should consider Calvaria’s RIA token pre-sale. Calvaria has now raised $2.44 million, with a crypto whale scooping up $97.5K in one purchase last week. The presale is in the final stage, with only 21% of tokens left.

Visit Calvaria Now

RobotEra (TARO)

RobotEra (TARO) is a Sandbox-style Metaverse that will enable gamers to play as robots and participate in the creation of its virtual world, including NFT-based land, buildings, and other in-game items. Due to launch in an alpha version in the first quarter of next year, it also plans to let players link up with other metaverses, in the process creating a multi-verse where NFTs from different platforms can interoperate.

1 TARO is currently selling for 0.020 USDT (it can be bought using either USDT or ETH), although this price will rise to $0.025 in the second stage of its presale. The project has now raised more than $545K in funds in the few weeks since the launch of the pre-sale. 

Visit RobotEra Now

Controversial tech entrepreneur Elon Musk is no longer the world’s richest person, according to Forbes Magazine.

Musk has slipped below French fashion tycoon Bernard Arnault. As of today, the two are valued at $185.4 billion and $185.3 billion, respectively. 

Indian coal magnate Gautam Adani comes in third place with a net worth of $134.8 billion. 

Amazon founder Jeff Bezos’s fortune stands at $115 billion. Berkshire Hathaway CEO Warren Buffett, who is also known as one of the harshest cryptocurrency critics, is also in the top five with a net worth of $107 billion. 

Musk’s net worth has taken a severe hit due to the disastrous performance of the Tesla stock, which is down a whopping 57% on the year-to-date basis. At press time, TSLA is down 3.85% as the e-car manufacturer is struggling to deal with slowing demand. 

Arnault serves as the chief executive officer of Louis Vuitton SE, the largest luxury goods company in the world. LVMH controls such prominent brands as Christian Dior, Sephora, Louis Vuitton, Tiffany & Co, Marc Jacobs, Stella McCartney, Loewe, Kenzo, and others. On top of that, the luxury conglomerate controls watch company TAG Heuer.  

The French tycoon’s fortune received a boost from LVMH’s stronger-than-expected third-quarter earnings that were reported in November. 

Unlike Tesla cars, luxury goods continue to see strong demand, with Louis Vuitton and Dior seeing organic growth in 2022.

Arnault originally became the world’s richest person back in May 2021. Back then, Bezos and Musk were in second and third places, respectively.

The French magnate, who turned 73 in March, has been at the helm of his luxury goods empire for decades. The ageing LVMH boss will have to decide which one of his five children will take his throne.  

Fresh data shows that the world’s biggest Ethereum (ETH) whales are hoarding meme coin Shiba Inu (SHIB) to the tune of nearly $10 million worth each, on average.

The latest numbers from WhaleStats reveal the investment behavior of the 100 wealthiest non-exchange Ethereum addresses.

The whale-monitoring website shows that the average Shiba Inu holdings are 469.2 billion SHIB tokens valued at $9,818,431, making SHIB the biggest altcoin holding among Ethereum whales, other than ETH itself.

WhaleStats also reports that over the past 24 hours deep-pocketed crypto investors favored virtual world The Sandbox, with an average purchase of 30,000 SAND tokens for $63,000.

The whale wallets are also keen on 3D virtual reality world Decentraland (MANA), as WhaleStats reveals that it’s currently the most widely held crypto asset among the whales.

Overall, MANA accounts for 2.29% of total whale holdings and worth $149,809,490.

In addition to Ethereum itself and several dollar-pegged stablecoins, also in the mega whales’ top-10 holdings is FTX Token (FTT), the native asset of the popular FTX cryptocurrency exchange. Deep-pocketed Ethereum wallets hold an average of 226,394 FTT tokens worth $8,898,439.

The wealthy investors are also fond of layer-2 scaling solution Polygon, with the average bag holding 1,816,554 MATIC at a value of $1,987,571.

Recently, crypto analytics firm Santiment reported that the richest Ethereum investors have started aggressively accumulating ETH after four months of inactivity. Whales holding between 1,000 and 10,000 Ethereum have suddenly added a combined 142,000 ETH, worth about $400,014,000 at time of writing.

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Ricardo Salinas Pliego is the third richest man in Mexico who has been making headlines for his stance on bitcoin. The billionaire saw Elektra, a supermarket chain, become the first to accept bitcoin payments in the future. He has also been a strong advocate for investing in the digital asset as opposed to traditional assets. This time around, the billionaire has shocked investors after revealing that he now holds the majority of his portfolio in bitcoin.

60% To Bitcoin

During the Bitcoin conference that is being held in Miami, billionaire Ricardo Salinas made a shocking revelation. He said that the majority of his portfolio was in bitcoin and bitcoin equities, making up a total of 60% of the said portfolio. This is up significantly from the 10% of his total net worth that Salinas had said was in the digital asset last year. Going by this means that Salinas currently has billions of dollars worth of exposure to the pioneer cryptocurrency.

Bit

Although the allocated portion of the billionaire’s portfolio to bitcoin is large, it is no surprise that he chose to take the plunge. For the longest time, Salinas has been advising investors to put a portion of their portfolios into the digital asset. Often advising against storing wealth in fiat currencies.

BTC continues on downtrend | Source: BTCUSD on TradingView.com

It’s A No For Bonds

Bonds have been a way for the ultra-wealthy to secure safe returns for the longest time. However, with inflation rates rising faster than the interest rates on these bonds, interest in them has declined over time and Salinas looks to have sworn them off completely.

When asked about his portfolio allocation, the billionaire said that he did not have any portion of his portfolio in bitcoin. Rather, he had a liquid portfolio that was made up of bitcoin and other hard asset stocks. “I definitely don’t have any bonds,” Salinas revealed. “I have a liquid portfolio—I have 60% in Bitcoin and Bitcoin equities, and then 40% in hard asset stocks like oil and gas and gold miners, and that’s where I am.”

Related Reading | The NFL’s First Team To Accept Crypto? The Tennessee Titans

He proceeded to blast bond investments which he said were a terrible choice. Given that interest rates have refused to go up and the resulting bond sell-offs that have been taking place globally, the billionaire’s stance on bonds is not a shock.

“Bond investment is a terrible investment. I wouldn’t touch a bond with a 10-foot pole,” the billionaire said. “It’s just the worst thing. I mean, the best thing that can happen to you is you get back your $100. That’s the best thing that can happen.”

Ricardo Salinas Pliego is rated as the third richest man in Mexico with a net worth o around $13 billion. He owns Grupo Elektra, a retail supermarket chain, a company that he inherited from his father, and TV Azteca, a Mexican TV broadcaster. 

Featured image from OI Canadian, chart from TradingView.com

Indian Premier League (IPL), the richest cricket league in the world has barred IPL franchises from associating with crypto companies. The Board of Control for Cricket in India (BCCI) has issued a directive to all IPL teams barring them from signing any sponsorship deals with crypto exchanges. According to a report in ET, two IPL teams have already scrapped their deals with crypto companies and called it a major loss.

“It’s a major opportunity loss. The kind of money they were offering for the main sponsorship was 1.5 times what the current sponsor is paying,” one executive said. “They wanted to build their brand with our association and were ready to pay for that.”

BCCI’s decision to bar crypto advertisements during IPL is primarily because of the lack of regulation in the crypto market. The Indian cricket board also noted that the directive will follow until clear regulations are passed by the government. The decision comes at a time when the Indian crypto bill is scheduled for discussion during the upcoming winter session of the parliament.

IPL Teams Miffed With the Decision

IPL franchises were not happy with the latest directive from the BCCI and pointed towards how ICC events have no such issue. Two major Indian crypto exchanges signed an INR 50 crore deal with the ICC for the advertisement slots.

IPL is the biggest sports league in a cricket frenzy country which sees billions in investment from major brands for advertisements slots. Crypto companies ruled the recently concluded ICC T20 event bagging numerous advertisement slots.  CoinSwitch Kuber and CoinDCX run multiple ads during the tournament generating a lot of hype and interest from the public.

This is not the first time when crypto advertisements have come under scrutiny in India. Earlier a PIL filed in the Delhi High Court demanded a ban on misleading crypto advertisements. The Indian high court then ordered standardized disclaimers on crypto advertisements running on Indian TV.