🐳 There are currently 6,392 wallets holding between 1K and 100K Ethereum. Over the past month alone, these key whale and shark wallets have rapidly added more coins as retail traders have taken profit.

During these past 30 days, a net of +1.49M more $ETH has been accumulated by this group, increasing their holdings by +3.72%. They currently hold 26.98% of the entire supply of crypto's #2 market cap asset.

📊 Bitcoin traders have mostly gone long on prices ever since yesterday's dip bottomed out, and have been slightly rewarded. Meanwhile, Ethereum traders have shifted from longing to shorting based on whatever the asset's price has done most recently.

Exchange funding rates are always prone to get liquidated when swinging from one extreme to the other. The best entry points are typically when other traders are betting against a coin, and best exit points are when others are very bullish.

Use this chart to keep tabs on when the $BTC and $ETH funding rates begin swinging in one direction to identify prime trading opportunities.

🧑‍💻 While most of crypto stays flat Tuesday, Chainlink (+7.7%) and Ethereum (+6.3%) have continued to break out. These two projects are known for their top ranked developing teams. Over the past 30 days, $LINK has had the 2nd most notable github events and $ETH is in 8th.

Is this the week we see Bitcoin challenge the $112K all-time high? Has retail sold off enough to justify pumping whale portfolios? We discuss crypto's top cap, along with Ethereum, XRP, and Solana, with Thinking Crypto in our latest market update!

📈 As crypto markets attempt to rally at the end of the work week, crypto networks continue to grow over time. Here are the total amount of holders for select top caps:

🪙 Ethereum $ETH: 148.38M Holders

🪙 Bitcoin $BTC: 55.39M Holders

🪙 Dogecoin $DOGE: 7.97M Holders

🪙 Tether $USDT: 7.79M Holders

🪙 XRP $XRP: 6.53M Holders

🪙 Cardano $ADA: 4.49M Holders

🪙 USD Coin $USDC: 3.30M Holders

🪙 Chainlink $LINK: 766.01K Holders

🧑‍💻 Here are crypto's top ETH-based coins by development activity. Directional indicators represent each project's ranking positioning since last month:

📈1) Chainlink $LINK 🥇

📈 2) Starknet $STRK 🥈

➡️ 3) Ethereum $ETH 🥉

📈 4) Eigenlayer $EIGEN

📉 5) Status $SNT

📈 6) sUSD $SUSD

📈 7) Synthetix $SNX

📉 8) Decentraland $MANA

📉 9) Lido DAO $LDO

📈 10) Lido Staked Ethereum $stETH 📖

Read about the Santiment methodology for filtering notable github activity data from project repositories, and why it is so useful for crypto trading!

🇺🇸 As Jerome Powell speaks on the state of U.S. inflation, we are seeing two very different stories between Bitcoin and Ethereum.

🫣 Bitcoin mentions across social media show 1.3 bullish comments for every 1 bearish comment. This reflects the crowd's high association between $BTC and the stock market, with its success highly contingent on a healthy American economy.

🥳 Ethereum mentions across social media show 3.0 bullish comments for every 1 bearish comment. This is likely due to the fact that $ETH's market value has soared +41% in just under 4 weeks. For retailers, the average trader is now excited about crypto's #2 asset after largely sidestepping it for the past 3 years.

💸 Percent of Total Supply in Profit is a straightforward metric that shows how much of a cryptocurrency’s current circulating supply is held at a profit—meaning the coins were bought at a lower price than they’re worth today. Currently, some notable top caps' supply in profit stats look like:

🪙 Bitcoin $BTC: 98.4%

🪙 Ethereum $ETH: 71.5%

🪙 XRP $XRP: 98.3%

🪙 Dogecoin $DOGE: 77.9%

🪙 Cardano $ADA: 71.0%

🪙 Chainlink $LINK: 80.5%

Even a tiny gain like +0.00001% counts as being “in profit,” making this a simple, yes-or-no measurement of market positioning, for every single coin. It helps investors quickly understand whether most holders are likely feeling optimistic or jaded, based on how their holdings have performed since entering circulation.

As more coins are mined, we will naturally see each coin see more and more of its total supply in profit. But by measuring the ratio of the asset's total supply in profit, we get a clear long-term picture of the market mood at a given moment because it focuses only on the currently available supply. Since crypto supply often increases over time, using percentages avoids misleading conclusions and helps investors gauge whether a coin is relatively overbought or oversold.

When combined with other metrics like MVRV (Market Value to Realized Value), RSI (Relative Strength Index), or Network Realized Profit/Loss, Percent in Profit becomes even more powerful. Crypto is a zero-sum game. So when large portions of a network are heavily in profit, the odds of profit-taking and a short-term pullback rise. But when most holders are sitting at a loss, it often indicates fear, undervaluation, and a potential opportunity to enter or add to a position before a price recovery.

Despite the all-time high celebrations, crypto never sleeps. And making the most informed decisions from here will likely come down to following key whale wallets and avoiding crowd think. We talk markets with Thinking Crypto.

📉 Ethereum has under 4.9% of its supply on exchanges for the first time in its 10+ year history. And Bitcoin's supply on exchanges is down to just 7.1% for the first time since November, 2018.

🗓️ Over the past 5 years, there is:

👉 1.7M less Bitcoin on exchanges

👉 15.3M less Ethereum on exchanges