Key Points
- Despite declining prices, the Crypto Fear and Greed index shows buyers are still optimistic and greedy.
- Bitcoin and Ethereum holders remain profitable, while sentiment around Solana has declined.
Buyers Remain Greedy Amid Falling Crypto Prices
The Crypto Fear and Greed index, at the time of writing, was at 70. This suggests that despite falling prices, the market still had an appetite for buying cryptocurrencies.
Whale addresses have begun accumulating large amounts of Bitcoin (BTC). This is coupled with retail investors showing interest in the king coin. Despite a recent correction in BTC’s price, the overall addresses have remained largely profitable as indicated by the MVRV ratio.
Ethereum Holders Profitable, Solana Sentiment Declines
Retail investors in Ethereum (ETH) have shown increased greed and accumulation in recent days. However, the same cannot be said for whales, who have been selling their holdings. Despite this, ETH holders have remained extremely profitable.
The presence of long-term ETH holders is significantly higher compared to BTC addresses. These long-term holders could potentially aid in Ethereum’s sustainable growth in the future.
On the other hand, Solana (SOL) has been majorly affected by the recent change in market tides. Over the past week, SOL’s price has fallen by more than 12%. The social volume around SOL has also fallen, indicating a decline in the token’s popularity. Furthermore, the weighted sentiment around SOL has also fallen, suggesting an increase in negative comments about the token.
