Whales Drown Retail Investors With Mass Selling, Expert Recommends Staying Calm and Buying ETH, ADA, and DTX

Whales Drown Retail Investors With Mass Selling, Expert Recommends Staying Calm and Buying ETH, ADA, and DTX

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July 8, 2024 by Editor's Desk
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The crypto market fear and greed scale moves to ‘Fear’ for the first time in months, due to the German government selling its seized BTC and leveraged traders capitulating. But for those who’ve been in crypto for a while, it’s just another time to buy the dip and know that prices will rise again. Ethereum
Whales Drown Retail Investors With Mass Selling, Expert Recommends Staying Calm and Buying ETH, ADA, and DTX

The crypto market fear and greed scale moves to ‘Fear’ for the first time in months, due to the German government selling its seized BTC and leveraged traders capitulating. But for those who’ve been in crypto for a while, it’s just another time to buy the dip and know that prices will rise again.

Ethereum (ETH), Cardano (ADA), and DTX Exchange (DTX) are some of the top picks to scoop up.

 

German Government tanks the price of Bitcoin – ETH price follows.

It’s been a rough few weeks for crypto with a lot of FUD (Fear, Uncertainty, and Doubt) and whale selling coming all at once.

According to data from Arkham Intelligence and analysis by Blockworks, the German and US Governments’ recent moves account for almost half a billion worth of Bitcoin being sold or transferred to exchanges, at an average price of $62,435.

The two governments still hold approximately $18 billion worth of crypto.

A German politician criticized Germany’s reckless moves, suggesting that the BTC could be used and invested. Tron’s Justin Sun has even offered to negotiate with the government to stop them from selling and destroying the price.

This, plus news of delayed rate cuts from the Fed and the upcoming repayments from Mt Gox, have triggered fear in the market, crashing the BTC price, ETH price, and many other cryptos. Some Crypto Twitter users suspect this is a concerted effort to bring down Ethereum’s price, ahead of the ETH spot ETF approvals.

According to on-chain data from LookonChain, one whale tried (and failed) to cover their leveraged positions on DeFi lending platform Aave as the ETH price fell, with two other whales doing the same for Compound. In total, the three whales deposited 28,558 of Ethereum (worth approx $82.2M) to Binance, causing the price to drop further. Many other leveraged traders are being liquidated, putting extra selling pressure on the ETH price.

However, given that Ethereum is not affected directly by the majority of the news, the recent dip to $2800 could represent a great buying opportunity, before Ethereum Spot ETF approvals.

This is especially relevant since it took time before the BTC price was positively affected by the institutional investors piling into the BTC Spot ETFs.

 

Is Cardano (ADA) a sleeping giant, set to rise again?

Cardano (ADA) is one of those projects with lots of maxis, who believe not just in the tech but also in the social justice ethos of the chain. Unlike other chains, Cardano (ADA) spent a lot of time researching the best way to build and create an ecosystem.

Critics say it was too long, with Cardano (ADA) accounting for just 0.15% of the TVL (Total Value Locked) across all chains. Contrast this with Ethereum’s $102 billion in TVL.

But fans point to recent technical developments and say Cardano (ADA) is just biding its time before it makes use of all the research put in, to become a well-used and profitable blockchain.

As Cardano (ADA) is now trading at lows of $0.34 last seen in November 2023, this could be a good time to sweep up some ADA for the long term.

 

Will presale coin DTX Exchange triumph in the current macroeconomic climate?

We all know to “buy low and sell high”, but how can you be sure when the bottom is in?

You can’t. But you can make some educated guesses about future highs, as we have attempted with the Ethereum price and Cardano (ADA).

Another angle is to buy a coin in presale, with a great concept, that is set to rise no matter what the market does.

DTX Exchange is one such coin, currently in stage 2 of presale. The price is up by 200% and with a further 200% increase to go, before it launches at $0.12.

And there’s more. DTX Exchange isn’t a memecoin without functionality, but rather a new solution to integrate TradFi (Traditional Finance) and CeFi (Centralized Finance) with DeFi (Decentralized Finance).

How? By offering a decentralized trading platform built on the blockchain – and with access to over 100,000 financial products and trading pairs.

The current falling Bitcoin, Cardano (ADA), and Ethereum prices contrast with the rising S&P 500, showing the decoupling of crypto with TradFi.

This highlights the need to enable crypto traders to access all kinds of assets, so they can diversify their portfolios, with anonymity and no KYC.

Visit DTX presale