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Lido, a liquid staking service for cryptocurrencies like Ethereum, noted a surge in profit-taking activities by LDO holders. On-chain data reveals that whales are taking profits in LDO, consistently since December 25, 2023.
Bitcoin price is range bound close to the psychologically important $40,000 level, nearly two weeks post Spot ETF approval by the Securities and Exchange Commission. Retail traders holding less than 1 BTC have shed their holdings, evident by the decline in Bitcoin wallets since October 2023.
Ethereum transaction volume noted a surge on January 25, according to Santiment data. This increase in transactions indicates that there was a large volume exchange of Ether between market participants on exchange platforms.
Bitcoin price has been on a steep decline since January 11, when spot BTC exchange-traded funds (ETFs) started trading. The load-shedding exercise was provoked by news of Grayscale Bitcoin Trust redemptions, but things could change soon, according to investment bank JPMorgan.
Bitcoin currently trades around $41,094 after dropping 4.60% on Thursday, putting an end to the $2,000 trading range. This move comes after Adam from GeeksLive noted that the volatility level of BTC dropped to a new low in a month.
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Cryptocurrencies Price Prediction: Ethereum, Binance & Shiba Inu – American Wrap 25 January – FXStreet
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