Are Investors Selling Bitcoin For StableCoins and Altcoins?


The data from wallet tracker Nansen, suggests that Crypto traders are switching bitcoin positions for stable coins. Popular Crypto whale who goes by the name Crypto Messiah, In a new episode of Delta-Fi, sheds light on the data from Nansen.


According to the data, a huge number of investors are trading their bitcoin and other cryptocurrency positions for stablecoins. These stablecoins will remain pegged to fiat money, making a way for traders to exit the market.

“Somebody asked Nansen on Twitter and wanted to know, ‘Do you guys track the farms? Or are these guys moving to stablecoins because they’re farming?’ But you know what, for me it kind of looks like a bit of de-risking.”

The Crypto Whale says, in order to determine which wallets are worth watching Nansen uses various methods and parameters. He doesn’t think all the wallets are whale wallets, perhaps some could be of people who have shown great performance.

“I don’t think all of them are whale wallets but the idea here is that these guys are educated, informed participants. And they’ve actually got an indicator now which shows you the stablecoin percentage allocation of the smart money”

Investment in Keeper DAO

He also mentions his own portfolio, he has been strengthening positions in the crypto projects he believes are of great potential and fundamentals and will shoot up after the correction phase.

The Whale has recently made a big buy-in Keeper DAO(ROOK), currently, he has 5000 ROOK worth $1.5 Million. Keeper DAO is an on-chain liquidity underwriter for Defi. it is currently trading at $329.75 with a 24hr rise of 2.1%.

Show More

Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Related Articles

Back to top button