According to Glassnode's data, when BTC whales accumulate, ETH whales sell. What's going on here?Famous figures in the Bitcoin industry have seized the opportunity to shoot their peers in the Ethereum community, but they also need to pay attention to the legal issues surrounding this industry
According to Glassnode's data, when BTC whales accumulate, ETH whales sell. What's going on here?
Famous figures in the Bitcoin industry have seized the opportunity to shoot their peers in the Ethereum community, but they also need to pay attention to the legal issues surrounding this industry. Steven Lubka, the head of private customer service for Bitcoin Financial Services Swan, mentioned in an interview with Decrypt that his company has discovered a large number of high net worth individuals (HNWIs) seeking to exchange Ethereum (ETH) for Bitcoin (BTC). This phenomenon has sparked a series of discussions and theories on social media, involving significant differences in whale activity. This further highlights the legal issues in the field of encryption, which require careful research and discussion.
Ethereum faces regulatory pressure, while Bitcoin is not, "he said.
His voice resonated with Jesse Shrader, CEO and co founder of Amboss, a lightning network data analysis company. Bitcoin provides a simple function: a better currency, "Schrader said. On the other hand, although Ethereum provides fascinating complexity, it may lose control due to changes in smart contracts and critical hard fork protocols
But Glassnode's data and conclusions seem incomplete. Has the chart been adjusted correctly for the pledge? "Asked Kunal Goel, senior research analyst at Messari. He explained to Decrypt, "Transferring to a pledge contract may seem like selling on the chain, but it's not really selling at all." Currently, pledges in the Ethereum network require users to lock (or pledge) 32 ETHs in the smart contract to help verify transactions in the blockchain. This seems to be one of the reasons why large entities are reducing their holdings. Goel added that although the significant difference in dollar amounts between major holders does not prevent whales from being compared, "the data needs to be correct
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