Despite the gathering of Bitcoin which has seen prices jump around 27% since the start of the year, on-chain data suggests that Bitcoin whales do not use the pump as an opportunity to sell their goods. According to some analysts, it is a sign of confidence that the recent rally signals the beginning of a long time bull market.
According to data from crypto analytics firm Glassnode, the number of Bitcoin addresses containing between 1,000 and 10,000 Bitcoin (or so-called whale addresses) has remained broadly stable at just over 1,900 since early December. Shark Bitcoin addresses, which hold between 100 and 1,000 Bitcoins, have also remained stable in numbers in recent weeks. According to Glassnode, there were around 14,000 last seen.
Fish and crabs piled up
Bitcoin bulls will be pleased to know that two major cohorts of addresses have continued to accumulate the world’s largest cryptocurrency by market capitalization over the past few weeks and at an accelerating rate since the collapse of FTX in early November. According to Glassnode, the number of Crab Bitcoin addresses (which contain 1 to 10 Bitcoins) has increased from less than 760,000 before FTX’s collapse to almost 830,000 last week.
During the same period, the number of Fish addresses (which contain 10 to 100 Bitcoins) increased from around 135,000 to almost 140,000, near its all-time high.
This suggests that medium to large sized Bitcoin investors are 1) using the price drop triggered by the FTX collapse as a buying opportunity and 2) not selling their holdings as prices return to highs. pre-FTX implosion.
Small investors have not yet invested
Big and tall Bitcoin investors are clearly showing strong signs of 1) wanting to buy the dip and 2) not wanting to sell the rally over the past few weeks and months. But Bitcoin bulls shouldn’t get too excited just yet.
Indeed, we have yet to see an acceleration in the growth of new Shrimp addresses (holding less than 1 Bitcoin) that typically occurs during bull markets. Indeed, according to data from Glassnode, the number of Shrimp addresses has stagnated around 42 million for the past few weeks, after experiencing a short-lived spike to nearly 43 million immediately following the FTX collapse.
If this number begins to rise rapidly, as has happened in recent periods of rapid bitcoin price gains, such as in 2019 and from late 2020 to early 2021, this would signal that small retail investors are getting involved. again, which would be a bullish sign. .
Altcoins to consider
Cryptocurrency markets have been doing well since the start of 2023, but the longer-term bear market still remains in play. Investors could still consider diversifying their holdings with the discounted presale tokens of some promising crypto projects and promising. Here is a list of a few that analysts at InsideBitcoins believe have the potential to perform well.
FightOut (FGHT) – Presale Now
The young mobile cryptocurrency niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, until now, prevented them from reaching mainstream audiences. FightOut, which bills itself as the future of the movement to win, wants to change that in 2023. FightOut is a brand new web3 fitness app and gym channel that rewards its users for training, challenging and competing in a first-of-its-kind fitness metaverse.
While existing M2E apps such as STEPN only track steps and require expensive non-fungible token (NFT) purchases to participate, FightOut takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and does not not require any expensive buy-ins to participate. FightOut seeks to combine the physical and web3 worlds.
The project aims to eventually acquire gyms in every major city in the world, while simultaneously promoting an integrated web3 fitness experience. At the center of FightOut’s digital ecosystem will be its smartphone app, which according to FightOut’s white paper is expected to launch in the second quarter of 2023.
The FightOut app will leverage smartphones and wearable technology to measure and track physical performance. The app will have its own in-house tokenized economy, where users can earn rewards for completing M2E tasks, and can create their own soulbound token avatar, through which the user can interact with the metaverse Fight Out.
FGHT is the token that powers the FightOut metaverse ecosystem. Users will pay to participate in competitions and leagues with FGHT, and winnings will be paid out in FGHT.
FGHT can also be used in peer-to-peer fitness betting. FightOut FGHT tokens are currently selling at 60.06 for 1 USDT, and interested investors are encouraged to act quickly to secure their tokens, as the pre-sale has already raised nearly $3.0 million in just a few weeks. FGHT is the token that will power the FightOut crypto ecosystem.
Calvaria (RIA) – Presale almost over
RIA, the token that will power the afterlife fantasy-themed NFT battle card game Calvaria, is also currently on presale. The play-to-earn (P2E) crypto gaming startup has raised nearly $3.0 million in just a few months since launching its pre-sale. Only around 12% of his tokens remain up for grabs.
Calvaria is looking to bring crypto gaming into the mainstream by tapping into a huge existing market – the market for physical battle card games (think viral sensations of the past like Pokemon and Yu-Gi-Oh). And with the crypto gambling space set to grow from $4.6 billion in 2022 to $65.7 billion by 2027, according to analysis by Markets and Markets, there is plenty of room for massive growth. Calvaria is expected to launch its fantasy-themed card game “Duels of Eternity” in the second quarter of 2023.
C+Charge (CCHG) – Presale now underway
The carbon credit industry should be worth $2.4 trillion by 2027. Democratizing access to rack up these benefits is going to drive massive business in the years to come and it’s something crypto startup C+Charge hopes to achieve. C+Charge is currently building a blockchain-based Peer-to-Peer (P2P) payment system for EV charging stations that will allow electric vehicle (EV) drivers to earn carbon credits.
C+Charge aims to reinforce the role of carbon credits as a key incentive for the adoption of electric vehicles. Right now, big electric vehicle makers like Tesla are making millions selling carbon credits to polluters. C+Charge wants to democratize the carbon credit market by allowing more of these rewards to end up in the hands of electric vehicle owners, rather than just large corporations.
C+Charge has just launched its presale of the CCHG token that its platform will use to pay at EV charging stations. The tokens are currently selling at $0.013 each, but by the time the presale ends, that will have increased by 80%. Investors interested in jumping into a promising eco-friendly cryptocurrency project early should act quickly, as the project has already raised over $300,000 in just a few weeks since the presale kicked off.
Investors should note that the remaining tokens could be recovered quickly. A crypto whale recently scooped over $99 from CCHG in a single transaction, as can be verified here at BscScan.
Meta Masters Guild (MEMAG)
Meta Masters Guild is an up-and-coming Web3 mobile gaming ecosystem that claims to create fun and addictive games that use non-fungible tokens (NFTs), allowing community members to earn rewards, as well as wager and trade. Development of the game is already underway, with the team set to launch its first Meta Karts title in the coming months.
The promising crypto gaming startup is currently conducting a pre-sale of its MEMAG tokens, which are currently being sold for $0.007 each. According to some observers, this is a godsend. Moreover, this price will have risen to $0.023 by the seventh leg of the presale, meaning that early investors could be sitting on paper gains of over 300% by the end of the presale.