According to a recent on-chain study, Bitcoin whales that entered the market more than a decade ago have started to activate. With the BTC price up by more than 360,000% from its record, concerns of increased sell pressure from these whales could lead to panic selling. However, the entrance of fresh money from new institutional investors is seen as a positive factor that can help absorb any selling pressure in the future.
Potential Sell Pressure from Bitcoin Whales
The activation of veteran Bitcoin whales has caused some concern among crypto traders. However, Ivan on Tech, a renowned blockchain speaker and educator from Sweden, believes there is no need to worry in the long term perspective. It is possible that these coins are being held by a hacker and may forever remain locked with no way to sell on a Centralized Exchange (CEX).
Solana Ecosystem to Dominate In the Next Bull Market
Ivan on Tech also noted that the Solana ecosystem will be one of the best performers in the next bull market due to its economics. Compared to Ethereum or Polygon, Solana offers one of the cheapest options for developers to airdrop NFTs to a global community.
Related: Solana Price Prediction 2023, 2024, 2025, 2026 – 2030:
Implications of SEC vs Ripple for the Altcoin Market
The popular crypto content creator with over 495k YouTube subscribers, Ivan on Tech, emphasized the importance of closely watching the SEC vs Ripple case for the prosperity of the industry. The final ruling will have a significant impact on the altcoin market.
Ivan on Tech highlighted that ongoing crypto regulation in Europe, particularly the MiCA, will play a vital role in pushing forward the adoption of genuine blockchain projects.Return of Dormant Bitcoin Whales Raises Concerns Among Traders.
Source: https://coinpedia.org/bitcoin/btc-live-news-return-of-dormant-bitcoin-whales-raises-concerns-among-traders/